[NavyCanDo]

We just got our property value notice. It dropped again. been underwater for 2 years now. I'm not selling, and I have no problem with the payments even at our current 6.1 % but I would love to do a refi. But cant.

[central_va]

payments even at our current 6.1 % but I would love to do a refi. But cant

Hang in there, God bless.

[dawn53]

Ah, that’s the bad thing. I know several couples who are underwater. It’s not that they didn’t put substantial down payments on their property...or bought excessive houses for their salaries. But the houses have lost so much value, that they won’t appraise out for a refi...and the banks are totally unwilling to work with them since their current on their payments. So they have to stick at the higher interest rate instead of taking advantage of the low rates.