Short Payoff: Can we get a refinance loan?

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Q. We are upside down with the market value of our home. Our current mortgage Company said that they would accept a short payoff of our mortgage. Both of us are self-employed.

A.  You can get up to 90% Loan to current Market Value (LTV) if your current lender is willing to take that 10% off the current market value and subtract the closing costs. You would still have to qualify from a credit and Debt to Income perspective

 

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