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

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January 12 2009 - Miami
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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]
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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.

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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.
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January 12 2009
 
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