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Refinance mortgage after moving for job

I had to move to another state for a job and was unable to sell my house after several months on the market.  I am renting where I now live and since I couldn't afford to carry both payments I rented the house I own.  I want to refinance the house so that I would come out a little ahead monthly instead of losing money.  It is not upside down, but there is not much equity either.  I am being told by my existing lender that I cannot refinance it because I am not living in it and I am renting it.   It is the only home I own.  I do not have enough equity to refinance it as a rental property and pay 20% down.  Are there any options for me?
  • January 29 2013 - US
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Answers (3)

What type of mortgage is it on the house you left?  What month/year was it taken out?

  • January 29 2013
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Conventional 30 year.  Since February 2004.  It also has a second mortgage, but both together should still be under appraised value. 
  • January 29 2013
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Input your address at the links below and see if either one shows a match, if so inquire with a lender regarding a HARP refinance and at least you can refinance the first to get that payment down.

https://www.knowyouroptions.com/loanlookup

https://ww3.freddiemac.com/corporate/
  • January 29 2013
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