OfflineIs there any way an individual who is currently unemployed, with an excellent credit rating refinance his current ARM before it is recast? This person recently started a home based business but does not have any income for the past 20 months as he was a full-time home-based health care provider for his wife who died of breast cancer in February?
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Yes, it may be difficult to do. There are still, as far as my understanding today - which may change tomorrow, companies that will do stated income loans if you have above a 720 credit score. You have to look around - a lot. You will be told many, many times that what you are looking for does not exists but let persistence win. The best people to talk to are mortgage brokers.
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