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What are my options?

I have a mortgage at 5.75% and a HELOC that's split into two rates: 7% fixed and 2% adjustable with most of the loan fixed. Is consolidation the best approach?
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July 04 2012 - US
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Answers (2)

If you're like the VAST majority of the country, that would mean you now owe more than your house is technically worth on paper.   If that's the case, then there is probably nothing you can do about the second.  The first, however, may be refinanced if it is HARP eligible.   If your loan servicer happens to be PNC, feel free to reach out to me directly and I can look into it for you.  If not, I have a referral network that can do HARPs all over the nation, depending on which state you are in.   I'm happy to make a referral.   You can check it yourself by going to the FNMA and FMAC websites and utilize their HARP eligibility tools. 

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July 06 2012
Sure.... if your loan to value/appraisal is high enough a refinance to pay off all 3 with much lower new first lien.
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July 04 2012
 
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