NowUKnow...Life just got Easy
Homeowners whose mortgage balance exceeds the current property value know the futility of trying to get a refinance. Refinancing options for so-called "underwater" mortgages are limited because most lenders require some equity in the property -- ideally about 20 percent.
However, borrowers should not give up hope. Options do exist, especially via the government's Making Home Affordable program.
Realty Direct Inc.
1401 Mercantile Lane, Suite 100
Largo, MD 20774