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?
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.