Posts Tagged ‘Loan’

What Happens If My Loan Amount Is More Than My House Is Worth Today Cuz Of The Housing Market?

September 25th, 2009

Three years ago, we refinanced our house, got into a 3 year ARM, didn’t know anything about refinancing so I did that, thinking that was the best thing to do. It was worth $182,000, the loan was for $139,000. Because of the housing market in Florida, one lender said my house was only worth $125,000 today. How am I to get refinanced now, what happens?