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Answers (5)
- Jason Hall, "Jason Hall"
- Contributions:38
Value is the key. Clinton has lost some value like most places. If possible, lumping them into an FHA loan is probably the most feasible. We would just have to run the #s to see how it pans out, but that is most likely your best option.
- Earl Boyer, "Earl Boyer"
- Contributions:153
If you purchased a few years ago you might be up-side-down. It's unlikely you will find a lender willing to combine both loans. But if you can demonstrate that it will become a hardship you may be able to take advantage of the Administration's
Making Home Affordable Program.
http://www.makinghomeaffordable.gov/
There is a self assessment tool for you to determine if you qualify.
Start ASAP it takes time and be patient.
Making Home Affordable Program.
http://www.makinghomeaffordable.gov/
There is a self assessment tool for you to determine if you qualify.
Start ASAP it takes time and be patient.
- Jared Godfrey, "Awesome rate"
- Contributions:59
Chris is correct, first and second mortgages can be combined by refinancing them into one mortgage, but there are many considerations that need to be looked at. What is your home value? What is your mortgage balance of your first? and second? What is your total payment? What is your credit score like? This is the info that one would need to help you out in your question.
- Chris Jones, "Christopher Jones"
- Contributions:135
Actually, you can do this conventional or FHA, and you can possibly get to as much as 97.75% of the home's value under those traditional programs, depending on what kind of second mortgage you have. Nobody could give you an answer to your question that would be correct for you without getting more information.
Did you get your second mortgage when you purchased your home?
Did you get your second mortgage when you purchased your home?
- shapiroamg
- Contributions:3058
What is the best way or program out there to refinance my first and second into one loan? If any?
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