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Refinancing

We have two mortgages on our home. can we refinance and have just one mortgage?

by emma.a_412_729 from , . Mar 20th 2012 Reply


Thomas J. Liolos (tliolos)
#38 ranked lender in New York - 16 contributions

Absolutely!if your home is in the state of NY - give me a call and I can run some numbers for you......Thomas J. Liolos(716) 932-7896 x102

Mar 20th 2012
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Yes! Of course it will depend on your loan to value and some other factors. Our average loan closes in under 3 weeks! Give me a call @ 302-727-2569 to discuss your options.

Mar 20th 2012
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john kizer (johnk@gnblending.com)
#21 ranked lender in Kansas - 6 contributions

Yes you can! I lend in all 50 states and would need to go over all your details to get you the best possible option. Call @ 866-624-3622 ask for John. Thank you for the opportunity to offer our finest service.

Mar 20th 2012
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Scott McPherson (ScottMcPherson)
#560 ranked lender in California - 25 contributions

Yes, this can be done but it will depend on your loan to value. Depending on when you took out your 2nd mortgage your loan may be considered a cash out loan. Cash out loans have a slight premium. If your home is in California we would love to help you out. Please contact us. 619 609-7006

Mar 20th 2012
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Well as you can see, there's a lot of guys out there who will just tell you what you want to hear... So let me give you the real answer... you can refinance 2 mortgages into one, however if your refinancing under conventional, then the max Loan to Value (LTV) is 85%. If you want to refinance using FHA, you can go up to 97.75% LTV, however you cannot roll in the 2nd mortgage, they would have to resubordinate. There will be an apprasial, and if your like most people in the U.S., your probably underwater, or don't have sufficient equity to qualify under the LTV restrictions.. HARP 2.0 is now available for Freddie/Fannie owned loans, however you cannot refinance the 2nd into a new first... the best advice I can give you is to contact a LOCAL mortgage broker, not a bank, and apply with them... they have access to numerous lenders and are familar with the LOCAL guidelines and issues... WilliamAcres.com

Mar 20th 2012
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

Sure, but in order to know what you options really are, and if they will even benefit you, I recommend you contact a local Mortgage Banker/Broker. contact a local Mortgage Banker/Broker

Mar 20th 2012
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