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Any options for refinance?

Zillow is currently estimating my home's value at $159,000 and my current loan is $205,000. This loan was obtained through the Acorn program in 2007 and is not owned by fannie mae or freddie mac. My current interest rate is 7.0% and I was hoping to refinance to take advantage of the low rates. Are there any options with any of the government programs that have come out in the last few years?
  • April 30 2012 - Smith Mills
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Answers (2)

Unfortunately your situation is a problem that the Gov. is going to have to address. The only thing you can do right now is to ask your current Lender for a Loan Modification if you don't have the money to bring your balance down. This is a problem for a lot of responsible home owners. They're falling through the cracks of the system!

  • May 01 2012
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Zillow appraised values have been off on many occasions.  Have a mortgage company pull an AVM (Automated Valuation Model) for you. 
  • April 30 2012
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