I have a first mortgage of 220K and I have a heloc 25K. My home is worth 250K currently. Can I still refi?

Yes.. Under HARP 2.0, if your loan is owned by Freddie or Fannie, and was initiated prior to May 31, 2009, then you might qualify. The 2nd will have to subordinate, since HARP does not allow combining 2 loans into one.. Also, under FHA, you could combine the 2 into one if your loan to value is 97.75% or lower.. you will pay mortgage insurance, both upfront and monthly, but it's possible... 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. 480-287-5714 WilliamAcres.com

Yes, under HARP you can if the first is owned by Fannie or Freddie, you may have to get a subordination agreement from your second lender but that isn't too difficult.

Maybe. If your current first mortgage is owned by Freddie Mac or Fannie Mae, and they purchased it prior to June 1, 2009 then the loan should be HARP eligible. To find out if your property is Fannie Mae (FNMA) eligible, use http://www.fanniemae.com/loanlookup/ For Freddie Mac (FHLMC) use https://ww3.freddiemac.com/corporate/. Under HARP, LTV should not be an issue, but you will not be able to combine the loans. Still, reducing the interest rate on the first should free up some cash that you can use to pay down the second faster. If your loan is not HARP eligible, then you really have few, if any options. For a traditional refinance, most lenders are going to require a LTV of 80% or less for the new first loan, but most won't go above 90% CLTV (Combined LTV). If your loan is HARP eligible, contact a local Mortgage Banker/Broker for a refinance. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

First, is your loan a FHA?? LINDA OR are your both of your loans the same bank??