How could HARP be better option than conv mortgage if we have a 2nd mortgage?The lender we are working with told us we were approved for a conventional refinance at 4.86% that would consolidate our 1st and 2nd mortgages, but then said that she had asked someone else in the mortgage dept to give us a call because they thought that we would be better off refinancing with HARP? From what I understand of HARP, this would mean that the 2nd mortgage would NOT be able to be included in the refi??? If that is true, then I'm not seeing how this could possibly be a better option for us. Our 1st mortgage is $270,000 at 6.125%. Our 2nd mortgage is at $80,000 and over 7%. The appraisal the bank did came back at $385,000 My last check on our credit scores (about 3 months ago) we were between 685 and 700 with 0 late payments Not understanding HARP other than what I've gleaned from the Internet this morning, I just can't see how this could be a better option for us? Any advice would be appreciated. I am also wondering if 4.86% is a reasonable rate for our situation. Thanks!March 22 2012 - Carroll00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.