by Gill F from Texas
Regarding Mortgage Refinancing Advice: Help! I need refinancing advice! Is there any way I can refinance my mortgage if my property is valued at less than I owe my present mortgage company?
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I currently pay 7.25% interest rate in Texas. My mortgage company refused to refinance my loan to a lower rate. The property was valued at $3000 less than the balance of my current loan.
Although I currently have a mortgage with a reputable nationwide loan company, can I and should I shop around?
My credit is not great, I purchased the property in 2006 and it is the first I have purchased in the US. Since I'm pretty new at home ownership, I could really do with some refinancing advice. Please help! Gill
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