Go Back To Search Results Question Can you refinance your home loans even though your house is worth less than what is owed? We have 2 loans and with the interest rates going down, it may be in our best interest to try and refi and have lower payments though most people would tell us to just walk away and buy a cheaper home.... By Mary Manteca Posted on 03/20/08 Total Answers 5 Answers- Why would anyone lend you more $$ than the house is worth? Answer by : MLaw On Date 2008-03-20 12:11:58 Not unless you come up with the shortfall in cash. Answer by : src50 On Date 2008-03-20 12:13:21 Shop around and see what the various lenders say. Answer by : estielmo On Date 2008-03-20 12:17:05 Unfortunately no. You will have to make up the difference, and many lenders are only lending 80% of value at this point. Can you refinance one of your loans? Answer by : godged On Date 2008-03-20 12:28:41 Unfortunately no. The lender requires the home as security for the loan and will only loan up to the amount that it can be appraised for. Given the current mortgage industry crisis, it will be difficult, if not impossible, to even get a loan for 100%it's appraised value. Hope this helps. Answer by : Elliot L On Date 2008-03-24 02:20:29   Go Back To Search Results