An underwater mortgage is a home purchase loan with a higher principal than the free-market value of the home. The borrower may have no equity or negative equity.
Understand what it means to be underwater on your mortgage and learn practical strategies to address the situation.
Learn what to do if you have an underwater mortgage. Discover your options and programs available to help you refinance and save money.
In some cases, you can refinance an underwater mortgage. Explore your options today.
Homeowners can wind up with an underwater mortgage when home values drop and the amount of their mortgage is higher than their home’s current value.
An underwater mortgage is when you owe more on your home than it is worth. If this is you, find out what your options are and how to move forward.
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Homeowners who are underwater, owing more than their house is worth, still have some options for refinancing their mortgage.
A mortgage refinance involves replacing your existing home loan with a new mortgage for the same property. The funds from your new mortgage are used to pay off your existing loan, and you start making mortgage payments on the new one instead. There are many reasons to refinance your mortgage loan. You may want to reduce your interest rate, lower your monthly mortgage payment, avoid paying mortgage insurance premiums, or borrow from the equity you’ve built up in your real estate. Here’s when ...
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