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(English) Negative Equity Increasing

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5 comentarios
  1. Mb2145
    Mb2145 Dice:

    We bought our home in 2006, buying much less house than ‘they’ said we could afford. We financed 80% with a conventional, 30-year fixed loan, and 10% with a 10-year second.

    When we tried to refinance last month, our appraisal came in 20% below what we paid, and 6% below what we owe. Factors included a high rate of foreclosures in our area, likely from those who bought as much as they could qualify for with the ‘creative financing’ that helped drive up prices.

    We can pay our bills, but can’t refinance. We won’t walk away. 

    Responder

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