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I a mtrying to refi my wifes mortgage but no luck

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evren_ugu Joined: 18 Apr 2009 Posts: 4 3.68 Dollars($)	Posted: Sun Apr 19, 2009 9:05 pm    Post subject: I a mtrying to refi my wifes mortgage but no luck Like 0 Dislike 0 She purchased the house two years ago.. for 330K with 80/20 loan with no down. Her rate is 7%. Her credit score is close to 800. had no financial problems what so ever. However the property is located in Troy Michigan and depreciated in value by 100K. And we can not take advantage of this new goverment program. 105 loan/value deal does not mean much when your property loses value by 40%.There has to be a way out. please help..
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Sun Apr 19, 2009 11:23 pm    Post subject: Like 0 Dislike 0 Hi evren_ugu, This issue has been discussed on the following page: http://www.mortgagefit.com/refinance/property-depreciatedvalue.html#89 695

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