Qualifying for Refinancing When Your Income Has Dropped

As unemployment rises, many people are finding themselves out of work and their families are down to one, or even no, income. As these families struggle to keep their homes from foreclosure, they may consider refinancing. But can they qualify for a new mortgage when their income has dropped? Carmen Wong Ulrich answers this question and explains what to do if you can't afford to get a new mortgage.

 






















 

 

If you have a financial question you'd like Carmen to tackle, post it here in the comments or email us directly at ivcommunity@mail.ivillage.com


Watch Carmen Wong Ulrich's 'On The Money' Saturdays at 8PM ET on CNBC! Find more information on coping with the economy with our Bail Yourself Out resources.

Like this? Want more?
preview
Connect with Us
Follow Our Pins

Yummy recipes, DIY projects, home decor, fashion and more curated by iVillage staffers.

Follow Our Tweets

The very dirty truth about fashion internships... DUN DUN @srslytheshow http://t.co/wfewf

On Instagram

Behind-the-scenes pics from iVillage.

Best of the Web