I am trying to refi in SE WI and under water. Please help

You can go on my site to apply online. The application would need to be as complete as possible with income, assets, etc. Once it is completed, I can review it for any missing information and then if the application is complete, we can pull the credit report to ensure there are no mortgage late payments (which appears to be a non issue given your noted credit scores) and then run through for approval.

If I'm reading right, you have a FNMA loan that is about 2 years old, so it' won't qualify for HARP, you tried doing an FHA short refi and you were denied, and your looking to see if there is a way to refinance to take advantage of today's rates.. The answer is probably not what you want to hear.. But no.. Unless you're willing to pay down your mortgage to 97.75% Loan to Value (LTV) for an FHA refinance, or 80% LTV for conventional, then you're pretty much stuck with your loan until the value raises back up.. FHA's short refinance program requires your existing lender write off at least 10% of the value, which would reflect negatively on your credit report, so probably not the best route to go... many have suggest you call your existing lender, but it's a wasted call.. No lender out there is going to refinance a FNMA loan in negative position without it qualifying for HARP.. Your existing lender or not.. sorry, but your gonna have to ride out the storm... 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

You might be able to take advantage of the HARP 2 refinance program as your loan appears to be owned by Fannie Mae. This program does allow for an appraisal waiver if the underwriting system accepts the value that is input into the system.

Come on guys/gals. We are supposed to be professionals. Read the question completely before writing drivel. The loan is a FNMA loan and it is less than two years old. He is not eligible for FHA or for HARP. Unless you have a lender/investor that will do a new credit qualifying non-HARP loan at 125% LTV, and we know you don't, stop asking him to apply because you can't help him. Bigfoot, I am sorry to tell you that your only real hope is with the current lender. Unless they are willing to reduce your rate, and that is doubtful, you are stuck. The last option is to pay down the balance to qualify for a new FHA loan at 97.75% of the appraised value or 95% for a new Fannie or Freddie conventional loan. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

If your loan is an FHA, then you can seek out an FHA Streamline. Many times a local lender can get around the appraisal requirement.You might inquire about this......

What is your mortgage payment history and credit scores? To actually find out if you could qualify for a FNMA Refinance Program, you would have to apply online, have a credit report pulled and have the file ran through for Automated Approval. This can be done fairly quickly to find out what options you could have to explore.

In that case where the loan is owned by FNMA, and your loan was not acquired by Fannie or Freddie prior to June 1, 2009, your only good option in my opinion would be to contact your existing mortgage servicer and ask them if they have any type of program that could assist you in your quest for better terms. I have seen this done in the past.

If I were you, I would start by placing a call to the phone number on your mortgage statement and ask for their loan department. Inquire with a loan officer with your existing servicer about any program they may have to assist you with a high loan to value. If that does not work out, then I would recommend choosing a local lender, perhaps from this site and start there. Perhaps call one or more of these lenders and get a comfort level with them. Once you decide who you would like to represent you, then you will find that we all have online applications to get the process started....feel free to give me a call if you like to discuss....I only lend in Washington and Oregon, but would be happy to assist you as a neutral party......I enjoy helping people ...

I always like to think there is a way to help a good client like yourself. If your interested in a local lender, feel free to do an online application at www.landmarkmort.com.You can also check www.makinghomeaffordable.com - to see if your loan is registered on FNMA. Good luck.

Hi,You may be eligible for the HARP refinance program or the FHA streamline. It all depends on details of your current loan and the value of your home. My office is not far from you. It's right behind the Brookfield Square Mall. Let's talk by phone or in person so I can get some specific information about your home, I'll do all the research and come back with options for you to consider. My phone is 262-754-3331 or email at ritchie@trustprovidence.com . www.providencehomelending.comSincerely,Ritchie

If you have an FHA loan, we can help. Visit www.WI-MortgageBroker.com

As you see above, what one company can't do another often can. owing more than 125% of the current appraised value will limit the number of lenders who can help you but there are some wo will be able to. If no one else, the recommendation above to talk to your current loan servicer is good. If any lender can refinance you to a lower rate, they should be able to.

If anyone out there has a corespondent or wholesale realtionship with Plaza Home Mortgage, that is a good place to inquire. Let's help this gentleman....

Plaza goes to 105% for Fannie or Freddie!

HARP 2 refinance program. This program does allow for an appraisal waiver if the underwriting system accepts the value that is input into the system. Hold out till MARCH and HARP 3 is coming and you will def be able to do whatever you want pretty much. Andrew

There are sadly still many that may be in a situation similar to yours, despite values increasing overall. I would be curious to know more about the situation though, because based on what you're describing, there might be more to this than what appears... it may not be as "cut and dry" as others are stating. I can't promise I can offer a loan, however as a state licensed Consultant operating in both MN and WI, I would be happy to have a conversation if you're open it. Feel free to contact me at 866-680-2840 Ext 12 or email me at dyoungs@progressivels.com Thanks for the question!

I apologize, I replied to this without realizing how long ago you had posted this question... If you still would like to have a conversation at any time even just to get straight answers to your questions, I would always be happy to make time for you.

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