ANSWERS: 1
-
No. Banks will not refinance a home loan if it is not secured by the value of the home plus at least 10 percent equity (20 percent is better). If you have cash on hand, you may be able to refinance if you pay down your current mortgage first.
Source:
Bankrate.com; Can you refi when you're upside down?; Holden Lewis
Copyright 2023, Wired Ivy, LLC