Profile picture for user021702

up side down mortage

is there a goverment program for upsidedown mortages
  • July 12 2012 - Roseville
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Answers (6)

Profile picture for sunnyview
I would look into HARP or possibly an FHA streamline refi that requires no appraisal. Hope the links help. 
  • July 12 2012
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  • July 12 2012
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Profile picture for Brian GFL Capital
See if your loan is Fannie Mae or Freddie Mac backed, you can get help refinancing.

check with the following sites first

https://ww3.freddiemac.com/corporate/
http://www.fanniemae.com/loanlookup/
  • July 12 2012
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Cheryl - It is impossible to determine if there is no appraisal needed without hearing the loan scenario.

User - Your original loan needed to be originated prior to 5/29/2009 and also owned by Fannie Mae or Freddie Mac with no lates in the last 12 months and a minimum fico of 620.

Any questions or concerns please post the complete loan scenario.

 

Thank you - James

  • July 12 2012
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Profile picture for De Luz Agents

I would verify if you have a Fannie or Freddie loan first. If yes, apply for a Harp 2.0 loan.

  • July 12 2012
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Do you want to stay in your home?  If so, I would look into the HAMP program or other loan modification programs. 

If you find out you cannot refinance and stay in your home, then I would talk to your lender about the HAFA program which others have suggested.  If you qualify, you can get $3000 for relocation fees when you move out.  You have to be living in the home prior to close to receive these funds.  If they property is vacant, you will not qualify.

Sheri Negri
Better Homes & Gardens Real Estate
  • October 05 2012
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