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Debt Relief – Insolvency – Bankruptcy Information » Mortgage Refinancing » how to go about refinancing a mortgage that is already more than the house is worth?

how to go about refinancing a mortgage that is already more than the house is worth?


  1. I am refinancing my mortgage, can I start to sell the house now? I am refinancing a ballon to a fixed rate mortgage and in the agreement it says that I have to...

  2. I have a house in AZ the house was bought for 250,000 but know is worth 120,000. I can no longer afford the ? adjusted rate mortagage. If i do a short sale and sell my house for $120,000 will i have have to...

  3. We would like to buy the vacant lot next to our house while refinancing our current mortgage.? We would like this to all be in one loan. Does anyone have experience doing this and do you usually...

  4. Can a buyer prevent a FSBO from refinancing a mortgage on the property that he has under a land cont? Looking to purchase a property from a FSBO under a land contract that has an existing 3% equity line of...

  5. Refinancing home mortgage worthy? I saw a commercial last night about refinancing homes here in Florida. Is that worth doing? just asking coz both...

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7 Responses to "how to go about refinancing a mortgage that is already more than the house is worth?"

  1. um-kay says:
    not a good idea and I doubt the bank will approve it. If the loan would default then the bank would have no way of recovering all the money financed. You can usually never borrow more than the home is worth. If you ended up losing the home and the bank had to sell it they would have to take a hit and recover much less than what they lent out. They are more eager to give a loan in the amount that is less than what the home is worth. That way they would make a profit if you default on the loan.
  2. Frank Capo says:
    If you are having trouble paying it, just dump it and find a nice rental.
    You got ripped off on your house, no sense keeping a bad investment.
  3. David M says:
    You can’t. Start doing a better job of saving so that you will have enough to pay down the difference. Nobody will loan you more than your place is worth. It was that mentality that got us into this financial mess in the first place.
  4. David says:
    See the affiliated site is an Experian company BBB approved so very safe.
    They might or they might not have you on. It depends on many factors and how big the debt is.
  5. Alexander The Red/Brown Bread says:
    Not easy. You lost out it seems and can only pray that prices will come back up a little.
  6. Luba says:
    I doubt that you can refinance mortgage with upside down LTV (loan to value ratio). You see, technically refinancing is two steps deal.
    New lender is paying of in full your old mortgage and by the next step is lending you new loan. And nobody will give you more than your house cost at the moment. Your house is a collateral for money lender gives you.

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