can you refinance a first mortgage and not the second

Next, contact your first mortgage company and say that you’re interested in HARP. Be sure to mention that you have a second mortgage. Your mortgage company will need to take steps to either "re-subordinate" your second mortgage or help you refinance your second mortgage at the same time you are refinancing under HARP.

Facts about Second Mortgages – Mortgage Loan Place – Facts about Second Mortgages. When you refinance a first mortgage the lender knows that they have the first lien on the property in case of loan default or foreclosure. With a second mortgage the lender is aware that if the first mortgage forecloses on the property they will be paid what they are owed first and the remainder will go to the subsequent mortgage holders.

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A second mortgage is a loan on a home that has a first, or primary, mortgage. It, too, uses the home as collateral. If you can’t make your mortgage payments and the home is sold, the second mortgage -.

can you refinance a first mortgage and not the second. – can you refinance a first mortgage and not the second. Manning. Posted in Home Loans Grand Prairie Post navigation. can i back out of selling my house before closing. How Much Would Mortgage Be On A 200 000 House. Search for: Recent Posts. Fha Fixed Rate Mortgage; what is a 2nd mortgage.

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can you refinance a first mortgage and not the second. – Can You Refinance a 1st Mortgage & Still Keep a Home Equity. – One solution is to pay off or pay down the home equity loan, then apply for the refi.Another, if your total debt isn’t too high, is to take out a refinance mortgage that can pay off both the first and second mortgage.

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What Happens If I Don't Pay My Second Mortgage? | Nolo – If you have a second mortgage on your home and fall behind in payments, the second mortgage lender might or might not foreclose, depending on the value of your home.Read on to find out what happens if you stop making payments on a second mortgage and when that lender might decide to initiate a foreclosure.

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You plan to stay put: Refinancing any mortgage (first or second) may not be a smart move if you plan to move out of your home in the next few years. Any savings you gain from the refinance may not equal the amount of the refinance fee.