I owe more than my property is worth, do I still qualify to refinance?
I owe more than my property is worth, do I still qualify to refinance under the Homeowner Affordability and Stability Plan?
From a series of guided questions and answers from Help for Homeowners at The White House blog.
12
Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance.
By white_houseFeb 28, late morning | Report?