http://eugeneloanguy.com Eugene and Springfield's Source for Real Estate Mortgage Loan Information -- a FHA/VA/USDA Loan Specialist Sat, 14 Jan 2012 07:49:20 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://eugeneloanguy.com/2009/04/21/making-homes-affordable-program-help-high-ltv-refis/ http://eugeneloanguy.com/2009/04/21/making-homes-affordable-program-help-high-ltv-refis/#comments Tue, 21 Apr 2009 21:39:01 +0000 Fred Chamberlin http://eugeneloanguy.com/?p=679 Making Homes Affordable Program help high LTV Refis is a post from: Eugene Loan Guy

]]> So, what do we do when attempting to refinance a property and all of a sudden the value of the property comes in significantly lower than we expected???? Case in point, I am doing a rate and term refinance for a previous customer that purchased their home two years ago (during the height of real estate values for about $400,000. To accomplish an 80% refinance, I only need it to come in at $325,000 but the actual value comes in at $315,000, a huge drop in value and a loan to value of over 82%. So, what do I do? I go to a Fannie Mae DU Plus. This is all part of the Making Homes Affordable Program through Fannie Mae and Freddie Mac. Read More

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