My house is worth much less than i owe - refi help!

If you have an FHA, VA or USDA loan you may have options, but if your in a non-conforming loan you won't have any options at the moment. Property values are starting to make a comeback in many markets and some slower than others, but waiting it out might be the best option or if your interested in possibly moving, doing a short sale might be an option too. With an FHA or VA loan you can buy again right after a short sale if you had no mortgage late payments within the previous 12 months to the sale. However you will not be able to do a conventional loan for 2 years and pretty soon 4 years. Best wishes, Sean

Are you looking for a rate and term refinance or need cash out? Is your current mortgage a FHA?

Unfortunately there really aren't any options unless your current loan is FHA, VA or USDA - those are the only options other than HARP. Sorry - don't shoot the messenger!

FHA, VA, USDA, and Conventional all have refinance options available where no appraisal is required.. You have to go from like product to like product for it to work, but there are options out there.. if it turns out you do not qualify for any of the refi products currently offered, then the only option is to wait till the property value increase or you pay down your mortgage until your within the acceptable loan to value range for the type of loan product your using.. 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