Mortgage Finance True or False
True or false: being underwater (owing more on a home than the home’s worth) precludes an owner from refinancing.
You’re excused for answering “true”; normally, if the homeowner has no equity, there’s no collateral to secure the lender’s mortgage.
Today is most certainly not a “normal” environment, though.
Thanks to a variety of government programs, it is now possible to refinance even if the homeowner has negative equity.
If you’re reading this and want to know more, call (952-285-3182) or email me at email@example.com and I’ll put you in touch with a reputable lender who’ll explain the options.