I am upside down on my mortgage which includes an equity loan?
Posted in Renting & Real Estate on 02/04/2010 03:57 am by admin
EARL F asked:
Is there anyway I could refinance my home to get my mortgage and equity loan combined into one payment at the one of the current lower loan rates?
DEVIN
Is there anyway I could refinance my home to get my mortgage and equity loan combined into one payment at the one of the current lower loan rates?
DEVIN
02/05/2010 at 3:34 pm
DONNELL
You can’t refi unless you have equity in the house…your pretty much stuck in the 2 loans until you cannot continue to make montly payments anymore…then their may be a loan modification on the first and or second lien…once you miss a couple payments
02/06/2010 at 4:13 pm
BERNIE
You’re joking, right?
02/06/2010 at 5:23 pm
ERWIN
You can actually refinance your first mortgage as long as the second will subordinate but there is no way to refinance them both into 1 loan.
Let me know if you need more info.