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I am upside down on my mortgage which includes an equity loan?
Posted on December 2nd, 2009 3 comments
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?
ADOLPH3 responses to “I am upside down on my mortgage which includes an equity loan?”
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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
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You’re joking, right?
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Noneya December 7th, 2009 at 23:52
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.
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Brad F December 6th, 2009 at 02:34