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Old 03-31-2013, 04:40 PM   #22
BigRedChief BigRedChief is offline
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Join Date: Dec 2003
Location: On the water
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Quote:
Originally Posted by Spott View Post
I tried to refinance from 5.875 to a lower rate. Even though my credit score is over 800 no bank will do it unless I put down about 80-90 grand because my loan isn't owned by Fannie Mae or Freddie Mac and isn't a FHA or VA loan and my house is now worth a lot less because the housing market in Florida is about 35-40% of what it was a few years ago.
We locked in two weeks ago in Florida. Traditional 5% down home loan. No government or FHA/VA involvement etc.

If you are upside down on your mortgage no one will refinance a loan for more than the house is worth. If thats not the case, why can't you refinance with that credit score?
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If Jim Hendrix had lived, our society would be a better place for all, no question.
People like Hendrix, Lennon, Cobain were executed by the government (Illuminati) because they were the real movers and shakers, they were the ones the people responded to...
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