Posted on: 11th Jun, 2009 06:04 pm
I have a 80/20 conventional loan...no PMI. Just refinanced under the Obama HARP program on my 1st loan.
Although the home lost equity, is there a way to refi the second loan which is killing me at 9.25%.
Please advise...
Although the home lost equity, is there a way to refi the second loan which is killing me at 9.25%.
Please advise...
Well, you should have been able to finance both loans together without PMI under the new DU Refi Plus program. Then you would have just one loan and no PMI.
Go to this link http://loanlookup.fanniemae.com/loanlookup/ Type your address info in and see if your property is registered with Fannie Mae. If so, you will see a message below that says they recognize the address and you would potentially qualify for this program.
Go to this link http://loanlookup.fanniemae.com/loanlookup/ Type your address info in and see if your property is registered with Fannie Mae. If so, you will see a message below that says they recognize the address and you would potentially qualify for this program.
Hi wknight,
As there is no equity in the property, I doubt whether or not you would be able to refinance the property. I would suggest you to speak to your lender and check out if he could modify the second loan.
However, I would suggest you to check out the link given by Eric. This will help you know whether or not you qualify for the the program he has mentioned.
Thanks
As there is no equity in the property, I doubt whether or not you would be able to refinance the property. I would suggest you to speak to your lender and check out if he could modify the second loan.
However, I would suggest you to check out the link given by Eric. This will help you know whether or not you qualify for the the program he has mentioned.
Thanks
