Asked by Ibowl4food, Woodstock, IL • Thu Jun 24, 2010
Our mortgage is 212k and the value is approx. $140k. We are paying 7.25% interest with LPMI that was snuck in without us knowing it when we refi'd 3 years ago. I haven't spoken with our lender yet, but they are only a mortgage servicer so they do not refinance. I need some help finding a lender who will work with us. We have been current with our mortgage payments. No late payments whatsoever. We also are having no trouble paying the mortgage (no hardships) so we don't qualify for many programs. Please let me know what your opinion is. Should we short refi, short sale, foreclose, etc.? We can't see the reason to keep paying at such a high interest rate when we have so much negative equity.
Real Estate in McHenry
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