Posted on: 23rd Jul, 2009 12:47 pm
Good Afternoon, I have 1st mort with Indy Mac, now One West Bank. 2nd Mort with Principal. Interest only 1st mortgage comes to a head December 1st. Need to refi first mortgage; however, value of home may just break even with two mortgages together? Any suggestions, also, when is Home Owner Affordability and Stability Act available? Never missed a mortgage payment. Please advise.
Look at an FHA mortgage they are willing to do 97.75% of your homes value, more in a few situations.
FHA loan is the best option for you.
