I have a CAL VET home loan. Can I get my loan reduced?

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With all this TARP buisiness going on I would like to refinance my home with my lender, CAL VET, I currently have a 41% monthly mortgage/income ratio and I understand that TARP makes lenders go to 31%. Anyone know what I can do? My home is 60k less than what I owe on it now so i cant sell it.

2 Comments
  1. Reply
    needsanswers
    April 30, 2011 at 12:05 am

    That is a great question and I wish someone would answer it. I also have the same thoughts.If you try to call CAL VET , you will get no answers from my personal experience. My best thought is try to do a loan modification (not one that charges a fee) and see if it works. You are actually lucky to have lost only 60k less in equity. I have lost 175k in equity. Hope you find a better answer.

  2. Reply
    Joe Botto
    January 14, 2013 at 1:56 pm

    I tried Keep Your Home California and they gave me a $50k principal reduction, to reduce my mortgage from $2490.00 to 1948.00 per month.

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