How can i refinance my house if i owe more then it is worth?

Dovie
I am in a bad loan with country wide it is adjustable interest only loan. Of course the market took a down turn and I would like to refi so I don't loose my home, I hear about all of these things that are out there for people like me, does anyone know how I can get help?

Roselee
I suggest you go to the HUD website and find a counseling agency. They can usually either help you re-negotiate your loan (it may take a little while for the new programs to take effect), or they should be able to point you to someone who can help do the same.Not everyone will be able to renegotiate, but you shouldn't have to pay for it. However, I do know some attorneys in various areas who charge to do this also. If you are in foreclosure, many states now do not allow anyone to charge you UNTIL they give you results, so be careful who you choose if you do choose to pay someone to help you.

Leora
Call your lender and ask them if they can help. The people at Country wide should be willing to work with you. It is much cheaper for them to work out a refinance plan with you then it is to foreclose on your home.You may be surprised at how willing they are to work with you right now. Do not wait until they start contacting you, call them first.

Marvis
You can try the HUD program but they get over 47, 000 calls a day.this video explains the whole loan modification process. It will help. http://www.youtube.com/watch?v=2qEJKZGCE…do yourself a favor though and hire a professional. Believe it or not a modification will most likely get you WAYYY better payment and rate than a refi would have.

Jody
You can't unless you have the cash to make up the difference. You will not get more than it is appraised for