Posted on: 12th Mar, 2009 09:25 pm
My current rate is 7.250 fixed on a 30 year jumbo. I am upside down by almost 40% in loan vs appraised/assessed value. THe cost of living has gone up and we are becoming severely limited in our living expenses. We are making the payments yet are experiencing difficult times.
The current mortgage is with Wachovia/Wells Fargo
The current mortgage is with Wachovia/Wells Fargo
hi garyandjoy
as you have mentioned that you are current on your mortgage payments, you can try refinancing the mortgage at a lower rate. not all lenders would be ready to offer a refinance on a jumbo loan. however, if you have equity in the property, then some lenders would be ready to refinance the loan.
thanks.
as you have mentioned that you are current on your mortgage payments, you can try refinancing the mortgage at a lower rate. not all lenders would be ready to offer a refinance on a jumbo loan. however, if you have equity in the property, then some lenders would be ready to refinance the loan.
thanks.
garyandjoy cannot refinance since they are upside down by 40% of the value.
You need to have your interest rate modified.
You need to have your interest rate modified.
