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How do you refinance a house that you owe more than it's worth?
Wiki User
∙ 12y ago
Generally, no new lender will allow a refinance in that situation. You should speak with your lender.
Generally, no new lender will allow a refinance in that situation. You should speak with your lender.
Generally, no new lender will allow a refinance in that situation. You should speak with your lender.
Generally, no new lender will allow a refinance in that situation. You should speak with your lender.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoGenerally, no new lender will allow a refinance in that situation. You should speak with your lender.
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What are the requirements to refinance a house?
Each lender will have specific requirements for refinancing, but most will expect that your income be significantly higher than your mortgage, that you will be able to pay closing costs after the refinance, and that your house is worth more than you are asking to borrow in the refinanced loan.
How do I refinance out of an adjustable rate mortgage with high interest rates when my propety value is less than the mortgage owed?
You cant. You cannot refinance a property for more than it is worth.
How can you refinance a home loan if you owe more than your property is worth?
More than likely if your credit is good you can still refinance a home that is valued at less than you owe. You would have to roll the difference in what it's worth and what you owe into the new loan. This would only be beneficial if the new loan had a much lower interest rate than your current loan. You can consult a mortgage professional for further details on your options regarding the situation.
I am going through a divorce, my ex-wife needs to refinance,but we owe more than the house is worth we have a 1st&2nd fixed and never missed a payment in 10 yrs.also have a 740 credit score what can she do need my name off of the house.owe 300k worth 250k?
You cannot get your name off the mortgage unless you refinance. You may be able to have her refinance the home if you sign a note for the difference between what she can finance for and what is owed. You can also contact the first and second lienholders and request a short sale without recourse.
Where can one go for a quote to refinance a mortgage?
If you wish to refinance your mortgage you are best to go to the bank you took out the mortgage with. They will be able to help you and are more than likely to refinance your mortgage for you.
What are the requirements to refinance a house?
Each lender will have specific requirements for refinancing, but most will expect that your income be significantly higher than your mortgage, that you will be able to pay closing costs after the refinance, and that your house is worth more than you are asking to borrow in the refinanced loan.
Can I refinance if we owe more than our house is worth for a lower rate?
Yes, you can. The government is letting individuals refinance into certain mortgages if they are upside down on a house (no more than 5%, I believe). Different lenders offer different refinancing deals, so it is best to shop around.
How do I refinance out of an adjustable rate mortgage with high interest rates when my propety value is less than the mortgage owed?
You cant. You cannot refinance a property for more than it is worth.
How do I refinance car if I owe more than it's worth?
To refinance a car, you must check your report for any performance issues. Then you must check history, for any accidents or problems with car. That should help you.
How can you refinance a home loan if you owe more than your property is worth?
More than likely if your credit is good you can still refinance a home that is valued at less than you owe. You would have to roll the difference in what it's worth and what you owe into the new loan. This would only be beneficial if the new loan had a much lower interest rate than your current loan. You can consult a mortgage professional for further details on your options regarding the situation.
I am going through a divorce, my ex-wife needs to refinance,but we owe more than the house is worth we have a 1st&2nd fixed and never missed a payment in 10 yrs.also have a 740 credit score what can she do need my name off of the house.owe 300k worth 250k?
You cannot get your name off the mortgage unless you refinance. You may be able to have her refinance the home if you sign a note for the difference between what she can finance for and what is owed. You can also contact the first and second lienholders and request a short sale without recourse.
What does it mean when you owe more on your mortgage than your home is worth?
It means when you finish paying off your house it will be worth less than what you bought it for.
Is the california refinance rate higher than illinois' refinance rate?
The California refinance rate is higher than the Illinois' refinance rate. California's refinance rate is 4.375. These facts are according an online source.
What is Bruce Lee worth?
more than your house your car and all your kids put together -_-
Does Bank of America have a program for homeowners that owe more than house is worth due to recession?
Yes
How does one sell his or her home on which the IRS has placed a lien?
To sell your home, you put a FOR SALE sign out front. If the value of the lien is less than what you will get out of the house, then when you sell the house and pay off the lien, you get the rest of the money. If the lien is for more than the house is worth and you are ready to move elsewhere, you hand the keys to the IRS and say. "Here, have fun. It is all yours." At that point you owe more on the house than the house is worth.
Where can one go for a quote to refinance a mortgage?
If you wish to refinance your mortgage you are best to go to the bank you took out the mortgage with. They will be able to help you and are more than likely to refinance your mortgage for you.
