Cathyt, Home Owner in 30084

My house is under water now about $30-40k. I lose value about $100k. I put 20% down. Never miss or late for payment. Can I refinance for a lower rate?

Asked by Cathyt, 30084 Mon Sep 19, 2011

My house is under water now about $30-40k. I lose value about $100k. I put 20% down. Never miss or late for payment. Can I refinance for a lower rate?

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4
Brian Stephe…, , Atlanta, GA
Tue Sep 20, 2011
Cathy-Call the servicer of your mortgage and ask if you are eligible to participate in the Home Affordable Refinance Program. Good luck!
0 votes
Lori Beardsl…, Mortgage Broker Or Lender, Canton, GA
Tue Sep 20, 2011
If your loan is backed by Fannie Mae or Freddie Mac, there are loan programs out that will allow you to refinance to market rates and still have no PMI even if what you owe is more than what the house is worth. I can give you the link to look up your address to see if it is Fannie or Freddie owned and we can go from there.

Lori Beardslee
Branch Manager
Silverton Mortgage Specialists Inc.
lbeardslee@loriandlori.com
(770) 527-1375
0 votes
Tim Brown, Mortgage Broker Or Lender, Alpharetta, GA
Tue Sep 20, 2011
Cathyt,

The answer is a qualifed "yes". The qualification is that you have had your loan for at least 3 years (before 2009). If this is true and you are current on your mortgage payments you would be eligible to refinance under the Home Affordable Refinance Program (HARP). Call or email me and I can provide you with a no obligation quote.

Timothy Brown | President
Academy Residential Mortgage, Inc.| tbrown@academyresidential.com
11380 Southbridge Pkwy, Suite 200 | Alpharetta, GA 30022
678.468.5626 x110 | fax 678.935.1156 | cell 678.467.9959
0 votes
Travis Willi…, Agent, Tucker, GA
Tue Sep 20, 2011
You possibly could. That is a question for your lender, or another lender if your current one says no. If you need help finding a loan officer that will assist you send me an email (Travis@MyAgentIsTravis.com) and I will forward you a few that I personally use that can help you out or point you in the right direction to refi your home.
0 votes
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