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Forums » Private & Conventional Lending Discussion » Anyone Refinance up to 125% of Home's Value Thanks to New Plan?

Anyone Refinance up to 125% of Home's Value Thanks to New Plan? Subscribe to Anyone Refinance up to 125% of Home's Value Thanks to New Plan?

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Tag Tags: mortgage refinance loan equity


Paul Cheung

· Boston, Massachusetts


Forum_avatar_avatar-paulc123

Icon_minipost Jul 21 '09, 01:34 PM

Has anyone refinanced their home for 125% of their home's value thanks to the new housing rescue plan? Below is a link to more info about this. http://www.cnbc.com/id/31685244 I'd love to hear anyone who has refinanced 100% -125% of their home's value, what lender was used and the process / experience. Were there any refinancing where equity was pulled out (i.e. home is worth 100k, loan balance is 90k, refinanced for 125k which allowed homeowner to take 35k in equity out less closing costs). Thanks!

Edited: 06/26/2010 at 09:04AM


Eddie Ziv

Real Estate Investor · Studio City, California


Forum_avatar_avatar-ziv2liv

Icon_minipost Jul 21 '09, 01:54 PM

No. You have to ask first What value?
Mr. Joe Shmoe bought a house for $100,000 no money down. He got a sub-prime mortgage 2.5% amortized for 30 years with five years baloon or a new interest rate. Five years later his interest rate tripled but the house worth only $70,000. Now Joe Shmoe wants to refinance so he is approved with reasonable rate for 125% of the value... but wait... That's qualifies Mr. Shmoe for only $87,500 since 125% is of the new value ($70,000). Joe finds himself short by $12.500.

This may only works in few markets that didn't see much change in property value, but those markets are few...

Edited: 06/26/2010 at 09:04AM


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