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I have a 80/20 conventional loan

I bought my condo in June 2007.  I have what they called an 80/20 conventional loan. The 20 is an 'ARM' loan and will be coming due within a year.  I have not been able to refi my condo as I owe more than it's currently worth.  I have never missed any payments and my credit score is around ~792.  Would I be able to take both mortgages and roll them into one?
  • November 14 2011 - Saint Peters
  • 0Yes

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Answers (1)

combining both loans, unfortunately no due to the balance being beyond the current value.

next option available is a FHA refinance which allows up to 97.75% of your home value to be financed.  you will have to pay down the balance and closing costs to make this option work.
  • December 01 2011
  • 0Yes

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