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Replies (5)
- Matt Perillie, "therenovationloanguy"
- Contributions:7
You may have few options. Depending upon who currently owns your mortgage. If your loan is owned by Fannie Mae or Freddie Mac, there are some programs vailable thru them. If it is not, a mortgage modification may be what you need. [content removed by moderator]
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:3421
As mentioned, your best chance is if your loan is owned by Fannie Mae or Freddie Mac. They each have a website where you can plug in your address and it will tell you if your loan is owned by either of them.
If so, you would want to find a lender who offers the HARP program.
You also might be able to do a streamline refinance if your loan is FHA.
It sounds like you can afford your payments and just want to see if refinance is possible. Modification would NOT be appropriate in that situation.
If so, you would want to find a lender who offers the HARP program.
You also might be able to do a streamline refinance if your loan is FHA.
It sounds like you can afford your payments and just want to see if refinance is possible. Modification would NOT be appropriate in that situation.
- Virginia Callaway, "ladyva05"
- Contributions:92
the only way you would be able to do it is through by bringing money to the table at closing
- Steve O'Day, "Northstar Mortgage"
- Contributions:4
This is happening a lot and your not alone. If you have a Fannie Mae or Freddie Mac loan you may qualify for the "Making Home Affordable" program. Here are the links:
Freddie Mac
Fannie Mae
If you have an FHA loan a Streamline Refinance with no appraisal may be an option. But if your mortgage is not any of these then you'll have to pay down the mortgage balance to take advantage of the current low rates.
- turfdoc
- Contributions:4
Yeah, I'm in the same boat and CITI has denied my application TWICE now though they told me ,initially, that I qualify. The stipulation on the HARP program is that your first mortgage cannot be more than 125% of the appraised value. Zillow's zestimates are across-the-board so DON'T pay attention to them!
With your difference of $10K, it sounds like they want to play hardball and would rather recieve your 7% than refiance you????
These banks are cutthroat and don't seem to want to give an inch. Wish I could tell them to stick it you know where!
With your difference of $10K, it sounds like they want to play hardball and would rather recieve your 7% than refiance you????
These banks are cutthroat and don't seem to want to give an inch. Wish I could tell them to stick it you know where!
Can I get re-financed if I am upside down on my mortgage?
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