My home value has dropped to about 105,000 and I owe 130,000 on the place, I have tried the Home Affordable Program but I am not quite eligible. If anyone has any info or advice they can give we that would be so awesome, It is pouring me idiotic that I am stuck in this situation, So Thank You Very Much!
We bought a home in California 5 months back for $ 370,000 which includes our upgrades.
Yesterday we received an email that our home value has decreased to $ 285,000.
We are paying $ 1900 per month to the bank.
Please let us know if refinancing can help us reduce our monthly payment to the bank.
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I bought my home back in July 07, I have a fixed interest rate, but my rate is really high 10.75. I did 100 % finance and I also went stated. I live in NJ, I believed my home value went down, is there anyway I can refinance my home to get a low interest rate after 6 months. I have okay credit score I believe it is 683.
Let’s talk about the Building Home Affordable Refinance program just rolled out by Obama’s Administrations. It’s designed to help you refinance into a lower interest rate even if your home value would normally disqualify you from doing this.