Can you refinance a mortgage when you have a second mortgage on that property?

Yes, but the 2nd note holder will have to re subordinate their position. Typically, this is not a problem, but I have seen 2nd mortgage lenders deny a request to re subordinate. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Ginger, I can help you. Please give me a call. 847-359-5300

Yes, if you wanted to pay if off as part of the refinance, you just need to have enough equity in your home. The alternative is as William indicates, you'll need a subordination of the second loan, and similar loan to value restrictions apply until your current first loan qualifies for a HARP refinance as either a Fannie Mae or Freddie Mac loan.

Yes, depending on the circumstances -as indicated by others. Or, if the home is currently valued high enough you could refinance and pay off the 2nd mortgage at the same time.

Yes, as long as the current 2nd mortgage lender will subordinate their position. The subordination request is made by the 1st mortgage lender at the beginning of the loan process. Most 2nd mortgage companies will approve it as long as their equity position has not become worse. Speak with a local loan officer and have them go over all of your options, Best wishes, Sean

Yes. Depending on whether or not you want to payoff the 2nd mortgage, the way that the new loan has to be originated will impact what can and can't be done. Also, it will impact available mortgage rates for your refinance. Good luck and have a great holiday weekend.