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We have a first and second that are both set to ramp up shortly.

Are there opportunities to refi both by rolling them into one and getting reasonable payments?  They are from different lenders.
  • March 21 2012 - South Lake Tahoe
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Answers (5)

Profile picture for CA Direct Lending
You are most welcome.  You can check to see if your loan is eligible for the refinance Manuel referenced here:  http://loanlookup.fanniemae.com/ and https://ww3.freddiemac.com/corporate/

If you get positive results, I would post your scenario on Zillow to get quotes from lenders or choose one of us here.  
  • March 21 2012
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Profile picture for user459879
Thank you all! This information is very helpful.
  • March 21 2012
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Unfortunately not since you are upside down.  You can refinance the first through HARP if your first is owned by Fannie Mae or Freddie Mac.  The 2nd will need to subordinate (stay in 2nd position).   Have you checked with the lender in 2nd position to see if they are willing to convert the loan to a fixed?
  • March 21 2012
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I only have rough numbers. 
1st=$260,000
2nd=$115,000
Approx Value=$300,000
  • March 21 2012
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Yes, there are.  What is the total of your loans and what is your home's value?
  • March 21 2012
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