Upside Down Mortgage

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upside down mortgages

Question: upside down mortgage?

I am currently in a mortgage with an interest rate of 9.9 %. My FICO is much higher from when I started with this mortgage. I want to refinance for a better rate, but I’m upside down by 35k. What to do, what to do.

Answer: Your interest rate is pretty high---believe me--you are not alone in being up-side down on a property. I would go for it.. Chances are your deprecation on your property will be made up over the long term of your loan if the interest rate is right. Even if your payment stays the same if they work the loss in and cut a few years off your mortgage-you are a winner.and sooner or later the market has got to level out.Property will never become worthless. Give it a shot--sit down and crunch the math before you sign anything.

Upside Down Mortgage Home Loan Negative Equity

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