Can I refinance even if my mortgage owed is more than my home is worth.?

Question by : Can I refinance even if my mortgage owed is more than my home is worth.?
I am late for August and September on my mortgage, my mortgage amount is more than the home is worth on the market today, is it possible to refinance the mortgage.

Best answer:

Answer by Frank
If you go another month late, you will qualify for loan restructuring with your current lender.

What do you think? Answer below!

This entry was posted in Q&A and tagged , , , , , , , . Bookmark the permalink.

3 Responses to Can I refinance even if my mortgage owed is more than my home is worth.?

  1. Caveat Emptor says:

    Generally not, unless you have an FHA loan and qualify for the FHA Streamline refinance program. However, that program requires you to be CURRENT on your loan.

    The alternative is to attempt to get a loan modification (that’s not the same as refinancing).

  2. the kid says:

    Generally no. You would need a modification.

  3. Two peas in a pod says:

    Sure the government has a program that will let you finance up to 125% but you must be up to date. Look into the making home affordable programs. Hamp Hafa

Leave a Reply

Your email address will not be published. Required fields are marked *