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over 100% LTV Refi, NOT Fannie/Freddie backed?

Profile picture for lendan1
Contributions: 17

Is there anyone out there doing over $100% LTV on a refi in NY? My first is not Freddie/Fannie backed. Owe $506k, house should appraise close to that (comps from 460 up to 580). Credit over 700.

I have been posting for refi advice here over the past few days and have received plenty (Thanks). Just wanted to ask the question more directly.

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October 29 - Hauppauge

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Profile picture for Mark Wilkins
Mortgage Lender

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3.3/5.0

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Contributions: 255
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Since October 2009

Do you have 1 or 2loans on your property?

If you have 2 you can go FHA and subordinate your 2nd if your 2nd mortgage compnay will allow this.  

If you only have 1 loan there are not any options out there for you currently.  
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October 29
Profile picture for lendan1
Contributions: 17
Mark,

I have 2 loans.....

Wells Fargo 1st, Chase second

I have been told that Chase will not allow resubordination unless they have the first, but have as yet been unable to confirm that with them
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October 29
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Since November 2009

chase probably will not play ball without a hardship.
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November 06
 

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