Upside Down Mortgage

upside down mortgage relief

Question: Any mortgage relief for me? My payments are on time, everytime.?

My wife and I purchased a home that we could easily afford 3 years ago and our rate is much higher than current rates. We tried to refi but the value of our home has put us almost in an upside down situation. We are making our payments and have never been late but would like to take advantage of the current rates. I have my first child on the way and my wife is likely not going to work anymore so we could certainly use the extra money.

Is there any hope for me to get a better rate and lower my payments as well?

Answer: Accelerate your payments, pay down your debt and hope that your home increases in value enough and that your debt comes down enough so you can refi. Good luck. And next time you buy a home, put enough down where you don't have to worry about being upside down.

Struggling to find mortgage relief?

If you're new around here, you might want to subscribe to our Upside-Down Mortgage RSS feed. It's quite likely the only feed of it's type on the internet!