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Answers (2)
- Celia Butler Home Loan Diva, "At Academy Mortgage"
- Contributions:359
I need more information. Amount owed -vs- the value of the property to figure out your ratio. It depends on what type of loan you have and the ratio what can be done. Some programs allow you to refi if you are not too much underwater. If your ratios are too out of whack AND if you want to stay in your house you can do a leaseback. On a leaseback a cash buyer will purchase your house at the lower value and lease it back to you. You then can get a different loan for the lower price.
Sincerely,
Celia
- sunnyview
- Contributions:25139
There are some loan programs that I've heard of that will loan over the value owed like this one here for loans that are owned by Freddie Mac or Fannie Mae. You can see if your loan is owned by Freddie here or Fannie here. If you are underwater, there may be others program that can help you too. Try the government sponsored site Making Homes Affordable here. They can give you free info about options.
There may be other private loan options that the Zillow lenders on the board could talk to you about too. If you don't get answers on this thread, you might try reposting your question in the Mortgage section and see if one of them can help. They are very knowledgeable
There may be other private loan options that the Zillow lenders on the board could talk to you about too. If you don't get answers on this thread, you might try reposting your question in the Mortgage section and see if one of them can help. They are very knowledgeable
Home refi
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