Refi upside down condo help - second property
Upside down on a mortgage for a condo that is not my primary home. Family uses it, and my sister often splits payments with me but it is never rented out and I am the sole person on the mortgage as well as paid for everythig up front. Losing money on it now. It was originally with fannie mae but it was sold in the time i've had it. Don't know what that changes exactly. by ngo_lisa76786265 from Vancouver, Washington. Oct 3rd 2014
Dave Skow (daveskow)
#15 ranked lender in Washington - 455 contributions
10/3/2014Thanks for the question ...when did this loan begin? do you know if it is eligible for the HARP program ? what are the present terms on the present loan thanks and let me know Dave Skow 206 714 9745daveskow@eaglehm.com
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions
Unless it is eligible for a HARP refinance (closed before June 2009) you likely don't have any options unless you can lower the loan balance to 90% of the current value - or wait for the value to improve or pay the balance down to where you have 10% equity.
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