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Refinance

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shapoes Joined: 24 Aug 2009 Posts: 1 0.00 Dollars($)	Posted: Mon Aug 24, 2009 7:58 pm    Post subject: Refinance Like 0 Dislike 0 With the decline in property values, how is it possible to refinance a home equity loan in Texas under the LTV of 80 %? Is there anything being done to address the many homeowners like myself in this situation within the State Legislature
sunnyca2009 Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)	Posted: Mon Aug 24, 2009 8:22 pm    Post subject: Like 0 Dislike 0 Please check with yoru lender and see if they canhelp you with loan modification
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Mon Aug 24, 2009 10:28 pm    Post subject: Like 0 Dislike 0 Hi shapoes, In Texas, you can refinance your home equity loan only with another home equity loan. You cannot refinance it with a regular rate and term loan. This makes refinancing difficult for homeowners with declining property values. Due to negative equity, they are not being able to refinance their Texas home equity loans. But so far, I have not heard any changes in the Texas laws regarding refinance which proposes any amendments to the existing laws.

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