Ask Terry Questions Upside Down Mortgage Refi

Upside Down Mortgage Refi

By Terry Savage on August 21, 2014 | Housing / Real Estate

Any suggestions for assistance on refi of upside down mortgage with a revolving loan at 14.49%. Mortgage bal 185,000, revolving loan 27,000.; monthly gross 9,226. Also have $36,000 VA eligibility mortgage guarantee.

Terry Says:  This is insane.  You need to immediately find out what programs are available to you — and there are several if you have managed to keep current!  Check out the HAMP programs and the VA.  I don’t know what you mean by a $36,000 “VA eligibility” since there is no limit at that level if you qualify for a VA refi.  Here’s a contact for VA loans:

Daniel Chookaszian
Vice President of Residential Lending, PERL Mortgage, Inc.
312.376.2215 Office | 312.376.2278 Fax | 847.648.7107 Cell
837 N. Milwaukee Ave.  Chicago, IL 60642



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