Profile picture for Ry_merrill

Any hope for owner whose loan is greater than 105% of current value?

In one&half years, owner will have to start paying on the principle.  WHen that occurs, owner will probably have to default / see home mortgage holder foreclose.
  • April 16 2009 - Concord
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (4)

FHA Principle Reduction-September 2010 official launch from the Treasury Dept. These loans are closing everyday thru the FHA Prinicpal Reduction Program. The borrower receives a new FHA mortgage at the CMV-Current Market Value. Not at the underwater value owed. The current lender then shorts the difference and recoups thru utilizing tarp.
  • June 11 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

If you have a current Fannie Mae loan and owe up to 105% I can help you refinance using the Refi-Plus(r) program. Call me at 978-457-6777
  • June 08 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Take a look at http://makinghomeaffordable.gov/. Not all banks have received the details on how this program will be implemented within their companies (i.e. Countrywide), but at least it gives you (or your client) some additional information... Good luck.
  • April 17 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You might want to look in to a modification.

  • April 17 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.