Getting a New Mortgage with Same Lender?

[erdavis67]

My current home mortgage is at 7.75% with Washington Mutual. I was considering calling them up and seeing about a new mortgage product. However I won't qualify for a new mortgage although the payments are lower...What should I do?

[Rick T]

There is more than one lender out there. If your current lender won't refinance your existing loan for you in order to get a lower interest rate, pick up the local phone book and do a little shopping for a new loan at a better interest rate.