Home is valued at $187k, we owe $242k. Is there anything we can do for help?

Mike, it is very likely you could fit into one of the streamline or HARP 2 programs. You'll first want to know if you are an FHA, VA, Fannie Mae or Freddie Mac loan. The direction you go from there will be specific to the loan you have now. I'm here in Salt Lake. Give me a call at 801-918-9385 or email me at brett@homeloansinutah.com and we can take a closer look!

HARP 2.0 is ideal for borrowers with conventional loans backed by Freddie or Fannie and originated prior to June 2009. If your loan is FHA, you can refinance without an apprasial. VA also allows refinancing without an appraisal.. So it really depends on which loan product you have.. But there are options out there.. We just need more info to answer your question properly.. The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Mike,Most likely their is help in your situation, you can call me at 801-562-9100 or go to my website at www.clarkharvey.com and click on HARP 2.0 and check and see if your loan is owned by fannie mae or freddie mac. I have some time today to talk. Best Regards,Clark HarveyArea Manager1st Rate Mortgage

It is likely that your loan is eligible for refinancing under the new HARP 2.0 program or one of the other streamline refi programs. Start with a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. IF your loan is not FHA or VA, you can check out your property to see if it is owned by Fannie or Freddie yourself. For Fannie Mae (FNMA) use http://www.fanniemae.com/loanlookup/ For Freddie Mac (FHLMC) use https://ww3.freddiemac.com/corporate/. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Hi Mike, well the others have given you some good advise by saying it depends on which type of loan you have now - Conventional, FHA or VA. If conventional you should look up online to see if your home is a Fannie Mae (http://www.fanniemae.com/loanlookup/) or Freddie Mac (https://ww3.freddiemac.com/corporate/index.html) loan. If your home is a Fannie Mae or Freddie Mac insured loan then you may qualify for a refinance even with the value of your home being lower than the what you owe. FHA and VA have similar programs. I am in Salt Lake City as well and believe in information without obligation. You can call me at 801.550.1222 or email me at linda@lindamillergroup.com. All the best, Linda

YES ,your home could work for one of the harp 2.0, if you are a fannie or freddie loan, and I do the harps without the bank overlays, at the same rate , low fees.. email me at yourloanpartnerforlife@live.com I can loan in your state, and if your loan is from one of the big banks, its hard to get the harps thru, they do not want to do them, they like the higher interest rate.. i just got two harps today that were perfect credit, perfect ratios, and their banks did not want to do them... linda

Call your local mortgage broker in Utah and see if your property is HARP 2 eligible, and if so go foward we are closing HARP loans anywhere from 2.9 to 3.75