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LawTalk, Attorney
Category: Real Estate Law
Satisfied Customers: 34884
Experience:  I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.
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I bought a house and lived there as primary residence for

Customer Question

I bought a house and lived there as primary residence for couple of years. Then I put it for rent for two years. Now I am going to move into one of the rooms while still renting out other rooms to existing tenants. One of the reasons I was considering this move was because I was hoping that I could reapply for refinancing at a lower rate if it could be now once again considered my primary residence, now that I moved back in. Would the banks still give me a favorable rate in such a case or they would apply the harder assessment and higher rate that they usually apply to rental property owners?
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  LawTalk replied 6 months ago.
Good afternoon,I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today. So long as you are living in your home as your primary residence, then it will be much more realistic for you to get a refinanced mortgage on your property. Your rate and chances of getting a refinanced mortgage would be better because you live in the home. You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.I hope that I have been able to fully answer your question. Please be so kind as to rate my service to you. That is the only way I am credited for assisting you.I wish you and yours the best in 2016,Doug
Expert:  LawTalk replied 6 months ago.
Good afternoon,Do you have any additional questions that you would like me to address for you?In case you would like a phone call to further discuss these issues you have raised, I will make that offer to you. You are certainly not obligated to accept a call offer, but many people do find it helpful for clarification purposes, as well as to allow them to ask additional questions.As I have provided you with the information you asked for, would you please now rate my service to you so I can be compensated for assisting you?Thanks in advance,Doug

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