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Can I refinance?

Bought a house in 08, 30 yr fixed loan at 6% for $151,800. Current value according to Cyberhomes.com is $124,000. Credit scores are 790 and 720. Would like to refinance to a lower interest rate, not to cash out. Is this possible? If not then what are my options to obtain a lower interest rate or monthly payment?

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March 27 2009 - Banning
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only if your current loan is an FHA type . . . you could then be able to do a streamline refinance loan w/no apprarisal . ..  if the loan is conventional then unfortunately the answer is no . . .

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March 27 2009
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Sorry to say this, but why in the hell did you buy in a free falling declining housing market???? Not a smart move.
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March 28 2009
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You are upside down, you cannot refi when you are underwater.... you dont have enough collateral.
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March 28 2009
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I have a conventional loan and $151,800 is the current balance. We bought the home for $170,000 and put down 10%.
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March 27 2009
Is $151,800 your current loan balance or is that your purchase price? What is your loan balance?
What type of loan do you currently have? (FHA, VA, conventional, etc)
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March 27 2009
 
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