Short Pay Refinance Question?

Posted on Dec 2, 2024 in HARP Refinance

A couple of good large residence pictures I located:

History of the Large House

Image by K. Todd Storch
This was in the livingroom of the Large Home explaining some of the families that had lived in the residence considering that the 1800’s.

If you would like to see much more homes click here…

Construction at Michigan Stadium (the Big House) – University of Michigan’s Football Stadium

Image by cseeman
Huge rennovations at the Huge House – Michigan Stadium – at the University of Michigan’s Ann Arbor Campus.

If you would like to see a lot more residences click right here…
Question by Nerd: Short Pay Refinance Question?
I have heard of short pay refinances for underwater mortgages but can you do this with a VA home loan? If not are there any options for severely underwater VA home owners? I know there is a VA streamline refinance, decease but this doesn’t help with the underwater equity, salve just with the interest rate (or so I think). Any info is appreciated. Thanks!

Best answer:

Answer by the kid
If you qualify for HARP, you can refi an underwater. If you don’t, you can’t without bringing cash to the table.

Helps only with the rate does not in any way help with the principal.

Add your own answer in the comments!

One Comment

  1. You will not qualify for HARP with a VA loan. VA loans have their own programs such as the one you mentioned, the VA streamline refinance. That will be your best bet to refinance to a lower rate. You are correct in that it will only help with the interest rate, not the actual principal amount on your existing loan. Hope you find what you are looking for.

Leave a Reply