Upside Down Mortgage Options

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1 MORTGAGE OPTIONS For UPSIDE DOWN MORTGAGES Presented By: cindy stephens, CMI Summary of Options Do Nothing note modification short refinance short sale Deed In Lieu of Foreclosure Foreclosure DO NOTHING

One of the best ways to turn an upside-down house right-side-up again is through a principal-reduction program available through the government or your existing lender. Mortgage companies are generally not in the habit of reducing the principal amount of your mortgage unless your home is worth less than your loan, but it’s definitely worth your time to ask.

Options for Upside-Down Mortgages Being upside down in your mortgage is another way of saying you owe more on the house than what it is worth. Many times, this goes hand in hand with a lack of.

Upside Down Mortgage – If you are looking for reducing your mortgage payments then our mortgage refinance service can help you find an option that works for you.

Most people count their homes as their biggest investments. That’s why it’s such a financial hit when homeowners owe more on their mortgage loans than what their homes are worth, a situation known as being underwater. Fortunately, owners who are underwriter have some options. But qualifying for help from.

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Upside Down Mortgage. A mortgage in which the amount that a property owner owes on the loan is than that property’s current market value. For example, if one borrows $100,000 to buy a house and, for whatever reason, the value immediately drops to $60,000,

An underwater mortgage is when a homeowner owes more on a mortgage than your house is worth. For example, your home is worth $250,000, but you owe $300,000 on the mortgage; that means you are underwater, or upside-down on your mortgage.

An upside down or underwater mortgage is one in which the homeowner owes more to his mortgage lender than the house is worth. Typically, such a mortgage happens when the homeowner buys his house in a healthy real estate market that later takes a downturn. When a divorcing couple owns their home subject to such a.

But for those who want to sell or refinance their homes, an upside down mortgage will put up a financial roadblock. Refinancing Options Through the fha. underwater homeowners are often unable to refinance their homes. They lack the equity that most lenders require. But there is help for upside down homeowners who want to refinance.