Erase Debt Stress With Underwater Loan Refinancing Tips
Real-World Examples and Statistics
According to the Federal Reserve, approximately 2.1 million homeowners were still underwater in the first quarter of 20231. This statistic highlights the widespread nature of the issue and underscores the importance of refinancing solutions. Furthermore, a study by the Urban Institute found that homeowners who refinanced their underwater loans saw an average reduction in their monthly payments of $200 to $3002. This reduction can significantly alleviate financial stress and improve overall financial health.