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Answers (3)
- wetdawgs
- Contributions:26833
If you hadn't combined them, wouldn't you still owe more than the home is appraised at?
What is your goal by splitting them?
What is your goal by splitting them?
- Chris Jones, "Christopher Jones"
- Contributions:135
It's very unlikely. No one is going to take a second mortgage against your property, knowing that they have essentially no security in the real estate. If I were a second mortgage lender, I would ask you why you were doing this, seeing that your payments are likely to rise. And it would look very much like you were trying to get rid of some of the balance of your first mortgage by shifting it to me, as your second mortgage lender.
I think you're stuck, Cheryl.
I think you're stuck, Cheryl.
- Linda Rozales, "Lrozales"
- Contributions:245
You can no longer split your loan if you were already approved to combine both your 1st and 2nd. However, you can call your lender and see if they can help you lower your payments. Please note that the current programs only deal with loans originated before 1/1/2009.
Hope this helps.
Hope this helps.
I refinance and combined a second mortgage with my first mortgage. Can this be undone?
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