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How can I Refinance my rental / investment property whose loan balance is higher than value?

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annasaheb

Ventura,CA

Contributions: 13
I have a rental property worth of $130K and loan balance is $200K, Current loan is 5.375% 5 ARM , can you please let me know if there is any way we can refinance this loan, I don't have cash to cover the difference.


Please let me know.

Thanks
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October 27 - Victorville
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View my 2 listings

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Since November 2009

Rudy I have not seen this program is there a link or a letter # or anything??
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November 06
Profile picture for CORONA NICK
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Since October 2009

Rudi, really?  Say it aint so! 

Anna,
 I doubt you can refi, you dont have enough collateral.

Why do you want to refi?
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October 28
Profile picture for CA UMB
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Since January 2009

Fannie Mae just introduced a new payment reduction product for 2nd homes and investment property. You may be able to reduce your monthly payment up to 30%. When lenders will come on board is another matter. Keep your eyes and ears posted for that occurance. ... Good luck, Rudi
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October 27
 

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