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Bought house for $650,000,first loan balance is 504,000 and 2nd loan is 94000.Can i refinace loan

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January 15 2009 - Yonkers
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Profile picture for CORONA NICK
why ?
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February 01 2009
It all depends on how much the house is worth in today market. I can give you an idea if you are interested.
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February 01 2009

Unfortunately, you might have a tough time unless you have the capital to pay off/down the 2nd mortgage, or the appraisal comes in higher than your estimates.  If you can pay off the 2nd, you should be just fine assuming that all is well with credit/income.  Good luck

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January 15 2009
Profile picture for datavis
I purchsed it in April 2006,It is probably between 550,000 to 600,000.
Let me know what is good for me.
Thanks
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January 15 2009
How long ago was the purchase?  What is it worth now?  Initialy, yes, it looks like you can refinance.  You will likely have to keep a 1st/2nd combo due to loan size guidlines, but could be worth your while.
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January 15 2009
 
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