by J Anthony Is
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.
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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