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I am upside down on my home and want to refinance.

Profile picture for Cornelljh

Two mortgage loans with high rates.  The loans are not through Fannie or Freddie.  The estimated value is $160K-$175, but owe $190K.  Is there any way to refinance?

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April 01 2011 - Creedmoor
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Answers (5)

Profile picture for Homeloans4u
Also, consider contacting a local mortgage broker and spend the money for an apprisal. Go through the re fi process with them.

Estimate values can't help you refi, you need facts.

Good luck.
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April 12 2011
Profile picture for Homeloans4u
Try to find out if your loan is FHA and do a streamline refi, which allows you to exceed the loan value of your home.
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April 12 2011
The first step would be to contact you lender/ mortgage services.
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April 01 2011
Profile picture for tejks
Do you have 20 grand? Would you consider investing it in your home?
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April 01 2011
Profile picture for Exner Mortgage
Unfortunately not...have you contacted your current servicer to see if they will consider modification--I have heard on rare situations that they have lowered the rate at no cost?
Justin
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April 01 2011
 

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Profile picture for Joseph Branton
QuestionI am upside down on my home and want to refinance.
  • Latest answer by Joseph Branton
  • April 12 2011
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