Refinancing my home with a lower value than when purchased?

Eleanora
I bought my house around 3 years ago and it was at 380k but now it is valued 280k. Is there a way or a method to refinance in this situation?

Linnea
the bank will not lend you less than the value of your home. you could refinance the new value for a lower loan rate, but youll end up still owing the 100K difference in price. How do you plan to come up with that?I suppose you could ask the bank if its possible to just refinance the remaining balance on the existing loan. this might work if there was competition to get your business for home financing; but considering your situation, it would probably be very difficult.

Alyce
If you owe less that it's appraised value, then you should be able to refinance. Otherwise, no. Lenders are not loaning more than the appraised value of the house.