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I owe more than I home is worth. I want to refinance at a lower interest rate I have 7.1% fixedno one will refinance m

by jessie-conley7510347 from Indianapolis, Indiana. Oct 27th 2015 Reply


Ralph Richard Guertin (ralph@absolutelowrates.com)
#135 ranked lender in Florida - 644 contributions

I'm assuming you are not eligible for the HARP 2 program

Oct 28th 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,045 contributions

More info is needed.. FHA, VA, USDA and Conventional loans all have refinance options that allow you to refinance without an appraisal. So we would need to know which of these types of loan you currently have to properly advise you.. if your loan does not qualify for any of the "Streamlined" refinance type loan's or a HARP loan, then it's more than likely you have a portfolio type loan.. and if that's the scenario, then the only way to refinance is to either wait for the value to increase or pay down your principal to where your loan to value is within the acceptable range for conforming lending guidelines. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Oct 28th 2015
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I have a conventional loan. I am not backed my Freddie Mack, FHA, VA or Sallie Mae. I owe more than my home is worth. I am locked in at 7.1% Ameriquest was my original mortgage holder now Owen Loan Servicing holds the loan. I want to refinance at a lower interest rate. I am underwater in my home.

Oct 28th 2015
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