There are tons of folks who want to refinance their house in NC – but don’t think it will appraise for what they owe. Did you know that there are SEVERAL programs available that do NOT require an Appraisal? If Fannie Mae or Freddie Mac have your mortgage – you can get a loan for more than 125% of what your home is currently worth!
Does this mean you can get Cash Out of your home up to that amount? No.
But, if you have a mortgage loan that has a balance that is higher than what you owe on your property, you might be able to refinance that “higher” balance and save money every month on a lower mortgage payment! Sweet! [Read more...]