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    Renting & Real Estate


    I want to refinance but I'm upside down and non-FHA, so what are my options?

    I owe 163K on a house currently estimated at about 125K, and slowly, very slowly increasing in value. I called my own mortgage company about a refi or modification and apparently qualify for neither. Due to some very cleverly worded phrases by the originators of the loan, my house payment is now $400 more per month than it was when I got it 3 years ago. Although the bank says I can afford it, that won't be the case for long. I don't want to lose it and the four times that I have called to see if they will work with me, they just keep saying that I have to be behind on the payments. I don't want to mess up my credit score, so does anyone know of any other options?
    a few seconds ago 3 Answers

    Best Answer

    You are out of options. You need to sit tight until your balance is less than the market value. If you need to, take in a renter to help you pay the mortgage.
    a few seconds ago

    Other Answers

    • http://loanrefinanceadvice.com/refinance-programs/ has everything you need to know about refinancing, refinance rates, and what steps to take if you are interesting in refinancing.

      by ? - 16 hours ago

    • You can't refi without satisfying the original loan. So the only way to do that is to bring the cash to the table to make up the difference.

      by Pascal the Gambler - 16 hours ago

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