What is the bank doing to refinance propertys that are negative value by negative I mean owning more ?
by Mortgage Rates on Tuesday, October 12th, 2010 | 4 Comments
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try refinancing under the fha guidelines.
It sounds like you have an adjustable rate mortgage situation.. In this case, you should be able to refinance into one with lower rates.. My advice to you is to check bankrate.com… Only do fixed rates.. You can probably get a rate around 5%
If you wait another week or two, the rates could drop another 3/4 of a point.. This is the consensus on the investors on how much interest rates will drop..
Hope that helps..
there is no way to refi unless your going to make up the difference plus,because no one right now is going 100% on any loan so stay with what you have hopefully things will change around for the better
Just because you have negative equity does not entitle you to a refi. If you’re having trouble keeping up the loan, you may be able to have it adjusted. 1-888-995-HOPE.