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Combining 1st and 2nd for home value to qualify for AGs Settlement Refinance

One of the criteria needed for the Settlement Refinance Program is "Have a balance that is greater than the current value of the property"   I have a 1st and 2nd on my home both thru Chase.   Using only the 1st mortgage, the loan is not greater than the balance, however when combining the 2 mortgages, I am underwater.  I have not been able to refinance because of this value to loan problem.   Would this scenario with a 1st and 2nd thru the same lender (not a home equity loan) qualify for the Settlement Refinance Program?  I contacted Chase directly and they could not answer my question.
  • July 09 2012 - Staten Island
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Answers (2)

Profile picture for rubymom
Anyone knowledgable with the AG's Settlement Refinance Program?  Chase couldn't give me any info and I was speaking directly with the dept that deals with these refinances.   They only could tell me "I don't know". 
  • July 09 2012
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Profile picture for rubymom
Noone is experienced with the Attorney Generals' Settlement Refinance Program thru the major banks?  Doesn't surprise me really since the loan officers at Chase didn't even have a clue about how it worked.  I was hoping someone here did.  Anyone? 
  • July 11 2012
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