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lower interest rate

eric1

Posted on: 11th Aug, 2009 10:55 am

I have 2 loans and owe more than house is worth; WellsFargo says can not refi because upside down. Purchase for 640k put down 33k and owe 508k on first and 95k on 2nd; interenst on 1st 6.25 and around 7.25 on 2nd. I'm current on all loans just want to lower interest rate; any suggestions; house is around 3800 sqft built in 2006 and in riverside county ca in upscale neighbor hood. I want to stay current on loan; I've been in the house from 7/07 to current and never a late payment; I want to make sure I stay that way by lowering the interest rate.

thanks

Total Reply : 3

how much would the home appraise for right now? if you are slightly upside down and qualify for the du refi plus program....then you may be able to refinance.

eric1

Posted on: 11th Aug, 2009 11:20 am

The houses in the area like mine are going for $450 to maybe $500k.
thanks

Anonymous

Posted on: 12th Aug, 2009 06:27 am

I am sorry, you are too far underwater for that program to help you

eric1

Posted on: 12th Aug, 2009 05:43 pm

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