Question by D D: How do I refinance if I am upside down in my mortgage and I am paying PMI?
I am looking for any options I have to refi. I do have a FHA loan but I am not sure if I can refinance with mortgage insurance. Is there any program out there that lets me?
Best answer:
Answer by MadMan
Sorry but no.
What do you think? Answer below!
You can’t. You can only refinance to 80% of the appraised value, and if you are upside down this isn’t going to happen unless you bring the rest of the cash to the table.