How can you refinance if you have a conventional loan if you house is not worth what is owe.
I do not qualify for HARP is a Refi-plus a government loan because I don't think I do. My second mortgage is a balloon payment due soon with Wels Fargo. My first is with B of A. Approximately 20,000 and 300,000 with a value of approximately 274,000. I'll see what the banks will do. I'm pretty much over a barrel.
Jericho Cherry (Jerichocherry)
#54 ranked lender in Virginia - 1,107 contributions
Sorry my friend, but I think HARP was your only option.
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions
HARP is really your only options, another lender is not going to take on a mortgage where the property is worth less than the loan. My guess is that you'll be able to get Wells to extend the baloon as long as you're making payments. They don't want to foreclose because they won't get their money that way either. Good luck!
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