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Steve M

Refinance home mortgage for negative equity?

asked by Steve M - 3 Answers

Hi, I bought my house in 2006 for $450k with no down. Interest rate for the first loan (80%) is 6.5% and I got the 2nd loan with 9.5%. Now the estimated home value is ~$400k. I know the interest rates these days are less than 5.5%. Can I get a refinance?

lender2you

Best Answer by lender2you

You have one option. First, call your lender(s) and ask to speak to someone in the Loan Modification Department. They should be able to help you get your rate(s) down. Please don't fall for any of the Modification scams going on right now. Anything that they say they can do for you you can do as well directly with the Lender. Godd luck and I hope this helps ... See all 3 answers

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