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Refinancing Options if your Underwater

Refinance options when you're underwater

By Marcia Passos Duffy • Bankrate.com

 

 

 

 

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.



Read more: Underwater refinance options http://www.bankrate.com/finance/refinance/refinance-options-when-yo...

 


BBT Team


Realty Direct Inc.


1401 Mercantile Lane, Suite 100


Largo, MD 20774


Main: 240-770-3580


Direct: 240-619-8326


Email: info@bbtteam.com


Website:
http://www.bbtteam.com

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