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What is the best way to refinance an 80/20 loan into one loan with a low interest rate?

I have great credit, steady employment (I did just change hospitals and have only bbeen here for 1 year). I have never been late with any mortgage payments either. I have 2K in student loan, 5K credit cards, and 2k left on a car loan.
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November 09 2010 - Lawrenceville
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Please email me your address and we can give you some options. What is your current rate on each loan?
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November 10 2010
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November 09 2010
Your best solution is to contact your current servicer and see if you qualify for a HARP or MHA loan.  This loan was created with last year's stimulus package and it would allow you to refinance the first mortgage only.  You would have to leave your second as is.  At 6% on the first, it should still make sense if you can get it done.  The bottom line on this loan is that it has the possibility of making value a non-issue.  Your loan has to be owned by Fannie or Freddie to qualify.  If it isn't, your next best bet is an FHA loan.  Would need an appraisal, but you can go up to 97.75% loan to value.  Hope that helps.
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November 09 2010
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Also, I live in Georgia and have been in the house for 5 years. The 1st mortgage is 6% and the 2nd mortgage is 10%. I tried to refinance 2 yrs ago and they said I did not have enough equity into the house yet to make it work while. Now, the property values have taken a dump, but the interst rates look great. Would love to refinance now.
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November 09 2010
 
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What is the best way to refinance an 80/20 loan into one loan with a low interest rate?
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