Posted by Bruce W on July 09, 2003 at 07:19:51:
I’m not familiar with a ‘nee’ loan, but I’m assuming the 80-10 or 75-10 equals the 85% or 90% LTV. My current LTV is 90% or thereabouts, according to comps in the area, and the FMV(Tax assessed value?) is below my loan value but that’s very typical in my area. I’ve only been in the house 2 months, but no prepayment penalty on my current loan, so I could refinance.
Tax Assessed Value $160k
Loan - Principal $174k
Comps in area $190-195k
Thanks again for the help some opportunities here.