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Profile picture for kathleenoliver

Any options for investor owned properties with underwater mortgages?

I own a property that is rented.  However, the mortgage is NOT owned by Freddie Mac or Fannie Mae.  Any options for these types of mortgages?
  • July 19 2012 - Saint Charles
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Answers (3)

Profile picture for user1515826
Do you have a jumbo underwater mortgage?  Any estimate on CMV, and what was original price at closing?
  • September 15 2012
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Profile picture for daveskow

1) contact present lender for any option they can provide
2) pay balance down to the level that a refinance is possible

  • July 19 2012
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Kathleen,

The short answer is no.  Unfortunately you have few options if you are owned by Fannie Mae or Freddie Mac.

Who do you make your payments to and how far under water are you?
  • July 19 2012
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