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What are my chances to refinance if my home to value has dropped almost to even money?

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Refinance

Wife and I purchased the home a year ago for 475,000 and currently owe 423,000. I hate to say but because of a devorce we have to do something about the house. Is there any way to refinance the house to get a lower payment so the wife can handle the payments on her own? House prices have droped so much in our area that I’m not even sure if we owe more than what the house would now appraise for. Thanks for your help.

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    It all depends on ratios, appraisals, and income. A great loan officer may be able to steer you through this complex maze although the fact that it is a jumbo loan complicates it further. I suggest Hometown Banc Corp. My mom used them. They may be your best opportunity for someone to say yes. If your credit does not measure up, they don’t simply “forget to call you back.” They help you get into a credit repair program you can afford regardless of income. Check out the free evaluation form at http://www.totaldebtsolutionsllc.com and a Hometown loan officer will contact you .

    Nicki W - Sep 22, 2012 |