Are there any banks in Florida willing to refinance an upside down loan? My credit is excellent.

Asked by Lisa, North Port, FL Wed Jul 15, 2009

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Robert Barry’s answer
Robert Barry, , Sarasota, FL
Wed Oct 27, 2010

I can help with financing at 125%. Its a federal program and rates will be slightly higher than market rates.
Let me know if you need my help.
Robert Barry
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, ,
Wed Jul 15, 2009
Hi Lisa,

I see you have already received some great answers. Depending on how upside down you are, there is the Home Affordability Refinance Plan that will allow you to refinance a first mortgage up to 105% of the homes current value and if a second mortgage is in place it would have to be subordinated to stay in second position. Otherwise if you first mortgage is over 105% LTV then i'm sorry but there is not much anyone can do at this moment unless your current servicer like John said, accepts a short payoff...which is very unlikely unfortunately.

Joshua Lerette - The Tampa Bay Mortgage Pro
Innovative Mortgage Services, Inc.
0 votes
John Walsh, , Palm Harbor, FL
Wed Jul 15, 2009
Hi Lisa,
There are lenders willing to refinance homes that are currently upside down. However, you must get "permission" from your current mortgage holder. Your current mortgage holder must agree to accept a "short refiance" payoff. Not all lenders and mortgage servicers are willing to accept short refinance payoffs. But it is worth a phone call.

If I may be of further assistance, please contact me at (888) 825-6300 or (727) 791-8800

John Walsh, Sr. Loan Consultant Florida Mortgage Corporation
0 votes
Lindsey M. B…, , Ohio
Wed Jul 15, 2009

You can look at doing a loan modification of your current mortgage loan.

Or - Is your loan currently held by Fannie Mae? You may qualify for a Refi Plus refinance with no monthly mortgage insurance and loan to value up to 105%! Call today for details and to see if your mortgage qualifies!

Call or e-mail me with further questions,

Lindsey Bishop
Sr. Mortgage Consultant

Consumer Real Estate Finance Company
6060 Rockside Woods Blvd Suite 110
Independence Ohio 44131

Direct Phone: 216-236-7270
Direct Fax: 216-236-7271

Visit us online at
Zillow Site:
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David Chambe…, , Saint Petersburg, FL
Wed Jul 15, 2009
Yes, up to 105%.

Who owns your loan?
You can check here:
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