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Company Loan Type APR Est. Pmt.
Mortgage Community Forums | Loan Talk for First Time Home Buyers | Refinance investment rentals - single unit houses

Refinance investment rentals - single unit houses

Posted on: 05th Jan, 2013 05:11 pm
Have 2 single resident rentals which are both upside down about $30k each. Mortgage rate at 7% and have solid rental history on both and no late payments. Any options for us, not able to let go.
hi rienee,

as both the investment rentals are underwater, the lender won't be ready to refinance them. you should have some equity in your property in order to get a refinance.

thanks
jameshogg
Posted on: 06th Jan, 2013 08:13 pm
Hello,

If your loans are Fannie Mae or Freddie Mac, purchased before May 31 2009, then you may be eligilbe for HARP. What state are you in? Do you know if your loans are FANNIE/FREDDIE loans?
chris-gummerson
Posted on: 07th Jan, 2013 11:04 am
If it is backed by FHA, VA, Freddie or Fannie you might have options to refinance to today's lowest rates.

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lucie.c.elliott
Posted on: 07th Jan, 2013 02:30 pm
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