Thread: Can you refinance if you're upside down?
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Old 05-02-2012, 10:29 AM
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BE Mike BE Mike is offline
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Originally Posted by johngross View Post
NOTE: This is not about any "government program", just a straight finance with a bank.

Like many people, the wife and I owe more on the house than it's worth. A ratio of about $130,000/$100,000. Our present mortgage is at 5.85%.

My basic question is, are we wasting our time talking to some banks, filling out applications, etc.? If it matters I've got a credit rating of 8.17 and my wife 7.89, and we are both members of USAA who I think offers home financing.

Thanks,

John Gross
I've been with USAA for over 40 years. They are a great insurance company. They are well-managed and above board. I just got a credit card through them and have been happy. I don't do any other banking with them, but if I were in your shoes, I'd check with them.
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