Close

See current mortgage rates on Zillow Mortgage Marketplace

Profile picture for Lsellos

Is it poosible to refinance if a mortage is higher than value of property

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 12 2009 - Miami
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (3)

In some cases you can refinance if you owe more than your home is worth. We have been very sucessful in negotiations with lenders to reduce your principal balance and refinance. [content removed by moderator for being self promotional]
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 13 2009

If you have a VA or FHA loan NOW, you can refi regardless of being upside down. The question is how much negative equity do you have? It may not be worth doing.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 13 2009
Most lenders now offer what's called a short refinance. You must negotiate with your current lender showing you have a hardship and trouble making payments on your current mortgage. If successful, your current lender will agree to recieve a short payoff on your mortgage (similar to a short sale). One you negotiate the short payoff, FHA offers a program to get you approved for a new loan. This can be done on your own. Be aware of companies trying to charge you for the negotiation of your short payoff. Good luck.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 12 2009
 
Related Questions
Fha or conventional or homesteps?
Profile picture for Real Estate Empire Group
Latest answer by Real Estate Empire Group
April 11 | 1 answers
Second home for elderly parents provisions
Profile picture for Norm  D Plume
Latest answer by Norm D Plume
February 25 | 7 answers
Can my ex husband put our house into my name with the mortgage included?
Profile picture for Lila Lopez
Latest answer by Lila Lopez
February 19 | 8 answers
  • Asked by jacfirmat
  • In Mortgage
  • February 18
Back to work program lender in Miami, fl
Profile picture for Craig Bosse
Latest answer by Craig Bosse
February 05 | 11 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 8858 W Flagler St APT 210, Miami, FL Home For Sale
    8858 W Flagler St APT 210, Miami, FL 33174

     For Sale: $1,700

    • Beds: 3
    • Sqft: 1364
    • Baths: 2.0
    • Lot: --
  2. (undisclosed Address), Sunny Isles Beach, FL Home For Sale
    (undisclosed Address), Sunny Isles Beach, FL 33160

     For Sale: $699,000

    • Beds: 3
    • Sqft: 2265
    • Baths: 2.5
    • Lot: --
  3. Poinciana Dr, Sunny Isles Beach, FL Home For Sale
    Poinciana Dr, Sunny Isles Beach, FL 33160

     For Sale: $749,999

    • Beds: 3
    • Sqft: 2450
    • Baths: 2.5
    • Lot: --