It is definitely possible that you may be able to refinance. More details are needed. If your current mortgage loan is either a Fannie Mae, Freddie Mac, or FHA home mortgage it won't even matter what your value is currently. Give me a call or contact me via email to discuss more thoroughly.
Senior Loan Originator
One Mortgage, Inc.
The answer would come down to what program your current loan is on.
However, based off how the question is worded it sounds like you bought the home in 2008 which would make you eligible for the HARP programs and also the reduced FHA Mortgage insurance premium if you are currently on either one of these programs.
Then it sounds like there was employment until 2010 and then the job ended. Now back on the job as of 2012 to present. Thus, it sounds like there was an unemployment gap for two years.
A borrower must have a two year work history prior to application and acceptable borrowers without a two year work history can typically only include the following:
Students with valid college transcripts or a college diploma
Individuals recently discharged from the military
Individuals who rejoined the work force after an extended absence (typically over six months) to care for children, family members, etc. In this situation there needs to be a two year work history prior to leaving the work force and typically six months employment in new position.
Feel free to give me a call or email me at any point.
Diamond Residential Mortgage Corporation
Our Team | United Equity Mortgage Corp.
http://www.unitedequity.us/our-team.html15+ items â€“ Wieslaw (Wesley) Jura Vice President. NMLS ID 225274 ...
Wieslaw (Wesley) Jura Vice President. NMLS ID 225274 773-304-3412
Paul Gondek Senior Loan Originator. NMLS ID 226276 773-304-3414
Until then, I look forward to hearing from you.
800 315 8803
NMLS# 20743 - my licensing information
http://www.nmlsconsumeraccess.org/ - link to look up my license number