With home value dropping, it is not easy to know what to do when our savings starts to fall.
If you are still current on your mortgage payment you have the most options.
If you owe more than your home is worth you may qualify for a short refinance, however you need to be current on your mortgage payment on your first loan.
Here are a few options:
1: Â a Short Refinance may be available for home owners with an FHA loan who are current and upside down on thier first loan by at least 114%.
2: Â a loan modification may be available as wll if your not current here you need to have your first mortgage payment greater than 31% of your gross income.
for assistant with figuring our this information call:
925 699 5041 Â this initial consultaion is free Â
JoAnna Jensen Â Realtor Â Â Legal Assistant Â Â Volo LawÂ
Tony Bayard de Volo Â Â Volo LawÂ
If you have been denied a Loan Modification we can assist you with Â a Net Present Value WorkSheet.
Additionally per the FDCPA there are disputes the can be done as the home owner you can always ask the lender why you were denied and you can ask for informaiton about your loan.Â