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Could not refi because of property value

Profile picture for ab_z
Could nor refi - because property value too low and could not modify loan because income high. Any suggestion? Thanks.
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November 05 - Woodbridge
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Profile picture for beachdigr
Mortgage Lender

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If your loan to value is 125% or less and you aren't currently paying mortgage insurance you may be eligible for a DU Refi (without adding mortgage insurance) if your loan is with Fannie or Freddie.  I have the program available in NJ, NY, CT, and SC so check with your local lender to see if they can offer it to you.  Please don't hesitate to contact me with any questions.  Good Luck, Bill

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November 05
Profile picture for GreatRateFolks
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Have you explored FHA? How far off was your appraisal? I am doing many loans in Prince William County, and the values are coming in nicely. You need to give us a bit more information to give you a good answer. BTW, please check with the Virginia State Corporation Commission, Bureau of Financial Regulation on any "loan mod" company. Virginia REQUIRES them to be licensed, and you will find many are not, be careful! Hope this helps...Jim
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November 05
Profile picture for LoanModSpecialist
Real Estate Agent
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Since September 2009

I think my main question for you is did you try the loan mod yourself?  If so, a loan mod attorney may be able to help as this article can explain more

http://www.callalms.com/blog/2009/loan-modificaiton-denied-by-bank/

Also, what is your interest rate, as if you have a low rate, what are your trying to accomplish?  We can talk more to see what options you have.
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November 05
 

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Question Could not refi because of property value
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