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well, sort of. FNMA rolled out a new program on April 1st that allows you to refinance your first mortgage and resuboridinate your existing second. so, if you had an 80/20 and that 80% was less than 105% of the current value of the home, you may be eligible. FNMA requires for the current loan to be a FNMA loan. you can check your address on their website.
hope that helps. jason
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