Is there a program to lower my current VA home loan to fair market value due to market crash?

HAMP is a government sponsored loan modification program, however it intended for struggling home owners.. If you lost your job, suffered a severe illness, the death of a wage earner, etc.. then you might qualify for some assistance, however if your only hardship is that you now own a home that is worth less than what you owe, yet you can afford the payments, then there is no assistance for that scenario.. Also keep in mind that most HAMP loans don't offer principal reduction.. To lower the monthly payment, they first will recast your loan out to 30 to 40 years.. Then they will reduce the interest rate.. The last thing they do is lower the principal.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

No. On a VA loan, the best you will be able to arrange is a rate and payment reduction. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Principal reduction loans are very rare and I have not heard of any for a VA loan.

You can do a VA refinance and lower the interest rate, using the savings to pay it off more quickly. Property values are coming back in many areas. Be patient, the lender isn't responsible for the housing market crash and there is no reason they would spend millions/billions of $ to lower mortgage balances. That is somewhat equivalent to asking a company to reimburse you for a change in the stock value.

You certainly can look into the possibility of lowering your interest rate, but unfortunately, there is no program out there that will lower your loan amount due to the market crash.

No programs to lower principle but you can possibly lower your interest rate.Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

A VA IRRRL (aka Streamline Refinance) to lower your rate and/or term is your best option. Select a local lender from this forum who can help you. Good luck!

Yukon isn't in an approved area for Principle write-downs. Oklahoma compared to the rest on the country has been stable.

Look into a VA streamline refinance loan, which can potentially lower your interest rate even if you owe more than your home is worth.

I'm in the Ft. Hood TX. Home of the largest military base in the world and the VA capital of the US. Although there isn't a program available to reduce your loan balance; there a loan to help reduce your interest rate. We can do this loan without a new appraisal. So it doesn't matter if the value is no longer the same as when you bought it. Please feel free to contact me and I'll walk you through the process. Ray 254-449-7196 or rlewis@englending.com

I know of none.