I owe more on my house than its worth. I have no equity. My mortgage is not backed by fannie mae, Freddie mac or FHA. I want to
William J Acres (William_Acres)
#75 ranked lender in Arizona - 8,728 contributions
All conforming lending programs have refinance features where an appraisal is not necessary.. if your current loan is a conventional loan, then you might qualify for a HARP refinance.. to be eligible, your loan must have been initiated prior to June 2009 and it must be owned by Freddie Mac or Fannie Mae.. If this is not the case, then you don't have a conventional loan.. you have a portfolio loan, and if that your scenario, then the only way to refinance would be to wait till the property value increases or you pay down your principal to where your loan to value is within the acceptable range to meet the lenders underwriting guidelines.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
My loan was originally done 7/10/2006 with Ameriquest. It is now owned by Ocwen. I am at 7.1% and want to refinance at a lower interest rate. It is not backed by Freddie Mac, Sallie Mae, FHA or VA. However I am a veteran. I owe more on my home that it is worth. I understand you are a broker in Arizona. Is there anyone you could recommend to me. I am also a veteran. The loan I have is conventional. I would like to go with someone else. As you know Ocwen is under investigation.
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