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Profile picture for user688486

does anyone know what to do when your house value is worth more than what you owe but the bank will

our house is in trust from our mom and we have been trying to refinance the house since her death.  we put over 300,000 in the house and rebuilt it prior to her passing so the house is worth almost 900,000 now and the trust only owes 500,000.  no one at boa has any answers.  we are retired and show no "income" except for our ss.  we own a profitable business that brought in an income of over 550,000.  
  • July 06 2012 - Staten Island
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Answers (3)

Profile picture for user1515826
Not sure when you posted your question. I am an investor and we have a program that allows high end upside down homeowners to keep their property and lower their overall debt. This is not short sale, or loan modification. Loan had to originate as a JUMBO loan, and you have to be 10-20% in negative equity.
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  • July 28 2012
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Profile picture for user688486
willl contact you next week.   thanks
  • July 07 2012
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You fall into a tough category.  Private investor is probably the only way to go.  I may have someone worth talking to.  Feel free to click on me to get in contact with me for the referral. 
  • July 06 2012
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