Is it a refinance or purchase?

04-30-2009, 01:43 PM

Junior Member

Join Date: Apr 2009

Posts: 7

Is it a refinance or purchase?

What is the name of your state (only U.S. law)? IA

I am currently buying a house through a contract with a small bank. It was a repossession. I would like to "refinance" but not sure what to do. When I look around on line to find info, it always asks if I want to purchase or refinance, and I am not sure. The bank does not report my payments to the credit although I wish they would. I have NEVER missed a payment or been late. Have been in this contract about 18 months. It does state in contract that I would have to refinance or have a balloon payment in 10 years. I would like to see about doing it now as I have worked on house and it is worth alot more than i owe and have some bills to pay off. Please let me know best place to start.

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