Many homeowners are finding they can’t refinance because they owe more than their home will appraise for.  Call your current loan servicer and find out if Fannie Mae is the end servicer.  If so, Fannie Mae has a program for “under water borrowers” and will refinance your loan up to 120% of your home’s value.  Obviously, you must still qualify for the loan.

FHA has the FHASecure program.

If you can’t make your mortgage payments and refinancing isn’t an option, the worst thing you can do is nothing.  A good place to start is Hope Now. 
Check out their website at http://www.hopenow.com/

Tags: Hope Now Alliance hopenow.com, Hope now foreclosure prevention help, I owe more than my home value is worth

This entry was posted on Wednesday, June 4th, 2008 at 10:17 am and is filed under 1) Questions for Loan Officer, 2) General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.