I purchased my home via NACA 6 years ago, I’ve since been divorced so my financial situation has changed. I am now the sole owner of the home for years; however have been impacted and my home is currently in forbearance.
I owe approximately $300,000 on the home and it’s worth about $500,000. I really need to access a portion of the equity to pay off additional debt to help my financial situation and consolidate debt.
Is it possible to restructure my loan through NACA to access my equity? Will I lose my interest rate in this process?