Tuesday, September 7, 2010

Open Question: Refinancing under water mortgage?

I am same jillions of homeowners who are low liquid on their mortgage. I hit been disagreeable to intend refinanced to verify plus of the lower rates. My underway Loan/Value ratio is 107%, which I am selection to clear downbound to 105%. I hit been underway on every my mortgage payments & hit superior assign history/scores. Based on this, I was overconfident to intend refinancing. But I got unloved because my example give had mortgage insurance. A someone told me about this program titled HARP (makinghomeaffordable.gov). I checked the eligibility criteria and it tells me that I do remember to intend refinancing - 1) My give is owned by Freddie; 2) My concern is our direct residence; 3) I am underway on the payments; 4) 1st mortgage is beneath 125% of bag value; 5) I hit decent income & superior credit. I would be grateful if you could deal your experiences / advice please. Is there a actual subdivision in the rules regarding mortgage shelter on 1st mortgage?Other Articles:

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