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Do homeowners qualify to refinance if they owe more than the property is worth?

April 26, 2017homeowners Property qualify Refinance worth

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Do homeowners qualify to refinance if they owe more than the property is worth?

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Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance.