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Rising foreclosure rates affecting my equity?

I have managed to keep my house in the positive. There is about 20k that I can play with if I were to refinance. I don't really need to, but I'm afraid that if I don't do it now, that I might lose the opportunity. Is the foreclosure crisis affecting my home value? by wilthon3_798_950 from Madison, Wisconsin. Aug 17th 2011 Reply

Douglas Lenski (dllenski)
#16 ranked lender in Wisconsin - 48 contributions

There is a program in place that allows you to refinance up to 105% of the homes value. If you were not paying PMI, you will not have to pay PMI on the new loan. The programs differ from Fannie Mae and Freddie Mac. They do require that you have good credit scores. Yes, foreclosures are hurting your homes value.

Aug 17th 2011
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