First Mortgage Refinance

Hi schmidtj,

You can refinance both the mortgage into one loan. However, if you wish to refinance only one mortgage, you should ask the lender for the same. However, the second mortgage lender has to subordinate his mortgage for the same.

Refinancing replaces your existing mortgage news, which is the most favorable prices and conditions that can help solve. The new loan secured by the property that the loan current. The new loan will be used to replace the current loan, then all the remaining money can be used to your advantage. Refinancing makes sense for the right reasons at the right time. You must decide to choose a parameter of interest or simply refinancing financial giving extra money.

Thanks for the response. I have another questions which I will post in another thread but will ask here to. I got an offer from First Ohio Bank to refi just my first loan into an FHA loan and they will be able to go to 115 percent combined loan to value. No one else seems to be offering this but them. Is this possible or are they leading me on? I thought FHA lowered the CLTV to 97%. Any help would be great. Thanks.

Hi Guest!

Welcome to forums!

Your query has been replied to in the given page:
http://www.mortgagefit.com/refinance/cltv-fhaloan.html

Take a look at it. Hope it helps you.

Feel free to ask if you've further queries.

Sussane