by Answerbag Staff on October 28th, 2009

Answerbag Staff

Question

Help answer this question below.

Can I refinance my house if it has dropped in value and I have no equity?

Answers. 1 helpful answer below.

  • by Alexis Vega-Singer on October 28th, 2009

    Answerbag Experts

    Great Answer

    Professionally Researched. (What's this?)

    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

    No comments. Post one | Permalink

Want to attach an image to your answer? Click here.

Did this answer your question? If not, then ask a new question or create a poll.

More Questions. Additional questions in this category.

You're reading Can I refinance my house if it has dropped in value and I have no equity?

Follow us on Facebook!

Related Ads

ANSWERBAG BUZZ

How can i refinance my home with no equity
How to refinance but my home has dropped in value
How can i get help if i have no equity in my house
Can you refinance when the value of your home has dropped
Should i sell if my house has dropped in value