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ghudrisier · Joined: 14 Sep 2010 Posts: 1 1.36 Dollars($)

Good morning,

I am living in Florida and bought a house in 2005 for $160.000
As of today, the value is about $90-105K.
My interest rate is 6.5 % fixed for 30 years.

I can see the interest rate are really low right now and I was wondering if I have the ability to renogotiate my mortage.
I am not behind in my payment and my credit score is excellent but I have a my mortgae upside/down and I am not financially in difficulty and all programs to help homeowners doesn't work for my case.

My goal is trying to have a positive equity ASAP.

Thank you in advance for your advice

jameshogg · Posted: Wed Sep 15, 2010 12:00 am Post subject:

Hi ghudrisier,

Unless you have equity in your property, you won't be able to refinance the mortgage to take advantage of the low interest rates. Lenders won't give you a mortgage refinance if your property is underwater though you've a good credit score.

Thanks

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