Can i refinance the house when i owned more than its value?

Clarissa
I need to refinance the house, I got approval for the amount that I owned unfortunate after bank's appraisal it come out that my house is worth less than I owned. I am not able to pay the difference right know, do you know any way I can do it.I live in Denver.

Arlinda
There is no lender that will agree to give a refinance or equity loan, when there is no equity right now. Their loan would have no collateral.

Emerita
You OWN nothing, you OWE more than the value of your home. You have Negative equity, no ownership of this home.Not uncommon in this market. Ask lender for loan modification, lowering the interest rate and thus lowering your payments. In some rare cases, they will even decrease principal.Call your lender, keep calling, ask what they're doing for Help for Homeowners. Obama is pressuring lenders to do MORE to work with their borrowers.