Upside Down Mortgage Refinance 2009 - refinancing

UPDATE 2010 - Upside Down Mortgage in 2010 will not be like any other year.  For the first time lenders are now allowing people to refinance their own homes using loans that consider current appraised value.  THIS IS HUGE!

This means you can qualify for a mortgage at using the current value and approach your current lender about a short payoff, or short refinance!  Short refinances were so few and far between in the past being reserved for only a select few.

Short sales now have a new look as well.  A homeowner can now short sale a home without missing any payments and then turn right around and buy a brand new home.  AWESOME!  this will create a whole new group of move up buyers who never though home prices could be so low, well if you live in California that is.  

Get all the details at my site Upside Down Mortgage Short Refinance 2010

There is a new program that is set to roll out that FNMA has put together to help Upside Mortgages with refinancing. This should help an even larger segment of Upside down homeowners but will not help everyone.

FNMA Upside Down Mortgage Refinance Program is designed for those people who currently have a FNMA loan and are looking to lower their interest rate or lock in a 30 year interest rate or 15 year interest rate. Mortgage Rates Roseville CA have never been lower and people are flooding our offices trying to get the rate of a lifetime. Problems have come up in several areas, Appraisal policy being a HUGE one, but home value is yet another.

I hope that someday soon the get rid of that HVCC and AMC policy which is there to protect the interest of the consumer but only hurts them in the process. If you don't quite know what I am speaking about it has to do with ordering an appraisal. As if getting the right value isn't hard enough now they appraisal company sends out a less experienced appraiser because they can't afford to do it any other way thanks to the expense they now have of the Appraisal Management Company (AMC) - I discussed it in detail on my radio show at On The Money Mortgage Show 950AM KAHI

There is so much going on with mortgages these days its important to be in touch with your options. Refinancing your upside down mortgage 2009 should be a whole new experience and I hope you take a moment to do some additional research and I promise you that the information found on my BLOGs and Sites will be the most comprehensive and FREE!