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Can I still refinance my home if the value is upside down and I haven't paid in a year?
The ecomomy hit our area pretty hard in 2009. I had 30k in equity in the house up until that time and I couldn't borrow against it to fix up my multi family because I hadn't paid 5% of the house down yet. My tenants all lost their jobs and had to move. I went through a modification but it wasn't enough. Now I sit in this empty 3 family that still needs major work and cannot afford the mortgage without tenants (and also cannot get new tenants until home is repaired)! :-(

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