I am upside down on my mortgage which includes an equity loan?
Is there anyway I could refinance my home to get my mortgage and equity loan combined into one expense at the one of the current lower loan rates?
Answers:
You're joking, right?
You can't refi unless you have equity within the house...your pretty much stuck in the 2 loans until you cannot continue to brand name montly payments anymore...then their may be a loan modification on the first and or second lien...once you miss a couple payments
You can actually refinance your first mortgage as long as the second will subordinate but there is no road to refinance them both into 1 loan.
Let me know if you need more info. Source(s): I'm a mortgage banker/broker
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Answers:
You're joking, right?
You can't refi unless you have equity within the house...your pretty much stuck in the 2 loans until you cannot continue to brand name montly payments anymore...then their may be a loan modification on the first and or second lien...once you miss a couple payments
You can actually refinance your first mortgage as long as the second will subordinate but there is no road to refinance them both into 1 loan.
Let me know if you need more info. Source(s): I'm a mortgage banker/broker
Related Questions: