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Refinancing a Non Freddie or Non Fannie Loan

Purchased a house at $250K with an 80/20 loan, both owned by some unknown entity. The Facilitator for both is CITI. This loan is not HARP eligible.
I have a credit score of 800+ with six figure income. CITI will not help and I am running out of patience.
With my current financials and credit score I should be eligible for a sub 4% loan.
Presently I am at 6.75% and 8.48% on 80/20 loans.

Is there any programs that can help?  I am not looking for principal reduction, I am looking for a resolution that I certainly qualify for. It's not my fault that someone sold my loan to a non-Fannie or Freddie company.
Thoughts?

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October 07 2012 - Huntley
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Talk to another lender. With a combined loan to value of 95% you should be able to refinance both loans into a new conventional 95% LTV or FHA.
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October 07 2012
I do not think anyone would want to refi your roperty untilt he market value is somewhat more than the 250K you paid. Have a couple of agents do a market analysis. There is no cost to do it. You need to show some equity. It does not matter what type of loans you currentkly have.
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October 07 2012
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$190K on one and $40K on the other.

Talked with CITI and they advised that I need to be late before they would look at rate reduction. Due to the nature of my job I cannot have a late payment ding on my credit.

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October 07 2012
what are  balances and  approx  market  value of home ?


Have you asked  CITI if they can lower  rates on either/ both loans ?
if they cant  - I think only  option will be to pay balances  down  to a point where you have  at a minimum of 5% equity and  then look at  refinance  options
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October 07 2012
 
Related Questions
Refinancing a Non Freddie or Non Fannie Loan
Profile picture for wayne lancaster
Latest answer by wayne lancaster
October 07 2012 | 4 answers
  • Asked by user996923
  • In Refinance
  • October 07 2012
Mortgage Rates
 
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