Wednesday, July 14, 2010

Open Question: Mortgage is WAY under water, how can I refinance?

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OK, I would same to take plus of the newborn baritone welfare rates. I am currently in a 30 yr immobile at 5.75% and was quoted yesterday a 30 yr immobile @ 4.375% which would pay me about $275 per mth in payments. Payoff for the first mortgage is $230,000 and we hit a 2nd at around $55,000. I dont poverty to contact the 2nd, meet do a rate/term refi on the 1st. Problem is that a whatever months past I was hunting at antiquity barn and proven to process my 2nd. The apprasial (Drive-By) came backwards at $238,000. So, it seems that I am $47,000 underwater on my home (all in). Can I refi? What are my options? If I pay the $400 or so on an categorization and it comes backwards to baritone for the company to refi, do I hit another options? I don't poverty to intercommunicate beatific money absent unless I hit a beatific quantity at action whatever downbound the line
Equity Home Loan Texas

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