NLIC.org

Douglas Said:

Can you refinance a 2nd mortgage?

We Answered:

Yes you can refi your 2nd alone. however it would not be cost effective for you.
I highly suggest you refi both and combine the loan. That way you have only 1 loan to pay for, plus reduction of payment. Keep in mind that you do get a tax write-off for refinancing as well.
I have been in the business for over 10 years and own my own mortgage company.
Please check us out at www.1stcontinental.com for ligit information, then email me if interested at fabbian@myfirstcontinental.com.
P.S.
this guy "bostonian" who just answered before me sounds super skitso, and needs to relax b/c if someone offered to help and they knew your scenario, then why wouldn't you take the offer? If oppurtunity knocks, answer the door!
Talk soon!

Ken Said:

Is it possible for me to refinance my 2nd mortgage and leave my 1st alone?

We Answered:

Try going to a credit union. They usually have very competitive rates and usually give better service to small loans.

Peter Said:

Is it possible to refinance a 2nd mortgage, and not touch the 1st?

We Answered:

yes you can. Just apply to refinance your second mortgage only. Shop on this site for low rate and fee.

http://www.amerisave.com/partner/chongth…

Alfred Said:

I brought my home 1yr ago, I want to refinance, my mortgage was setup with a 1st and 2nd mortgage?

We Answered:

you'd have to borrow at least 85000.00 as that is your total as you would have to pay other two liens off

Lucy Said:

can i 1st Mortgage refinance & 2nd leave alone what happen to 2nd loan?

We Answered:

The second lien holder would have to agree to subordinate to let the new first lien holder have first position. I do this with clients all the time but every one is a new experience. It depends on many things such as value, LTV, strength of borrower, etc. Oh, & who is holding the second. Some refuse regardless.

Ana Said:

Is it possible to refinance my 2nd mortgage and leave my 1st alone?

We Answered:

Like I said previously. FHA home loan. I'm a mortgage broker, I work for Summit Capital Lending. The women on the other question who refinanced her second is an idiot. Even if you're first goes up some what you'll still end up paying much more with a lower first and a higher second. With low credit you probably won't even being able to refinance a hoam equity loan. Depending on what state you live I might be able to help you. You can contact me via email at magula.summitcapital@gmail.com
My names Matthew

Irene Said:

Refinance: mortgage is 280K property value is only 230K. Do you know anyone who can refinance this?

We Answered:

Not currently, and this is a part of the housing problem that hasn't been addressed by Bush's 'solution' yet. During the boom appraisers went CRAZY in an attempt to make all of the deals go through. So aside from people getting drawn into teaser rate ARM's, there are hundreds of thousands with fixed rates but homes that were appraised to a ficticious value. Now even though Bush has rolled out a plan to help those who picked up ARM's that are about to default, he has failed to take into account these inflated appraisals mean no mortgage company will refinance them with loan to value numbers like that. Add to that the fact that the fixed rate folks aren't currently being offered any sort of help yet and we have ourselves a real mess.
I am torn in my feelings on this matter. I can do nothing but bow down to Mr. Greenspan and his wildly successful efforts to avoid the economic storm that swept the rest of the world over the past 10 years, but I saw then what it was doing to the housing market and knew this day would come. I couldn't make any sense of the complete failure to see the issue and take measures, so finally decided that the housing market was deliveratley left to it's own devices being the commercial endeavor that it is. Just the scope made me wonder if that was such a good idea. In thinking on it over the last few months I lean toward agreement with Mr. Greenspan. Businesses and consumers came together with knowledge to offer and accept loans with clear terms.