Question by js: How can I find out if I can refinance my condo?
I own a condo which I have been renting out for the past two years. I was just wondering if there is any program under which I can refinance the condo which is not my primary residence. If anyone is aware of any such program, could you please post it here. A few more details: Condo is presumably under water currently, I am up-to-date on payments and never more than 30 days late, the mortgage is backed by Fannie Mae.
Best answer:
Answer by linkus86
It is impossible to refinance an underwater investment property. Sorry. Your only hope would be to pay down the principal to get it above water.
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