No. of Recommendations: 5
Still can't re-finance the house.

Okay, in looking at your prior threads on the Buying or Selling a Home board:
http://boards.fool.com/same-mortgage-different-servicing-300...
http://boards.fool.com/refinancing-30213693.aspx?sort=whole#...
http://boards.fool.com/mortgage-calculator-31131881.aspx?sor...
it looks like in 2012, you owed about $62k, but thought that the house was probably only worth $52k - $59k. However, you had been and were going to continue making additional principal payments.

So, what's the balance now, and what do you think the home is worth? What have you tried doing to refinance? Do you have any savings that you could use to help pay the loan down?

Looks like you bought in 2006, so you are now about 10 years into the mortgage. At this point, if you hadn't paid any extra on the mortgage, you should have paid down about 18% of the original balance. And according to the latest available data from the Wisconsin Realtors Association, statewide in Wisconsin, the median home price for Apr - Jun, 2016 surpassed the median home price in 2007 during the same month. https://www.wra.org/Resources/Property/Wisconsin_Housing_Sta...

Unfortunately, the data supplied doesn't go back to 2006, so, if housing prices were higher in 2006 than 2007, your house may still not be worth what you paid for it in 2006.

That said, it looks like your lender, WHEDA, has a refinance program for people with as little as 3% equity called "Refi Advantage": https://www.wheda.com/Homeowners/Loan-Programs/ Have you asked them about refinancing? Have you talked to a mortgage broker about other possibilities for refinancing a high LTV mortgage? If you have some savings, you could potentially pay a lump sum on the mortgage to get the balance down enough to where you could refinance with a program other than WHEDA's.

If you can't find any other option, and WHEDA isn't being helpful, you might want to try contacting your members of the state legislature and making them aware of your situation.

AJ
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