can you refinance a first mortgage and not the second

i have got a home equity loan out my house, and i have not much equity left on my. You can also attempt to refinance your first mortgage although this adds.

Johanna-Fox-Turner 2015-05-04 12:14:39 UTC #3 Thanks for clarifying that your cc debt is $54k, not $. doable but you chose to refinance, you put your house at risk for $280. I can’t get excited.

what is the minimum down payment on a house How to Save Money for a House Without (Too Much) Sacrificing – When you’re wondering how to save money for a house, it can start to feel like you’ll never scrape together enough for a down payment. Yeah. You’ll need a larger minimum balance than for a regular.

Refinancing when you have an existing Second Mortgage or HELOC – This boils down to who has first dibs on a property in the event of a foreclosure. Lien position is determined by the date the mortgage was recorded. When you refinance your first mortgage and you have an existing second mortgage, the new mortgage will have a recording date that is after the existing second mortgage.

Refinancing a Second Mortgage with John McIntyre Can I only refinance my first mortgage and not my second. – The 2nd mortgage gets its name form the fact that it’s lien is 2nd in line behind the 1st. When you refinance only the first mortgage, and the documents are recorded, the new lien gets recorded in 3rd position, behind the existing 1st & 2nd and the old 1st goes away. Now the second is first and the new first is second.

You can reduce your homeownership expenses by refinancing your mortgage. Of course, some homeowners have home equity lines of credit in addition to first mortgages. Because liens on property.

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.

HARP Loan Program and 2nd mortgage refinancing – Ask Kate about your HARP loan program and 2nd mortgage refinancing problems: Meet three homeowners who are trying to refinance second mortgages. Mike has been denied twice by Wells Fargo even though he is current on his 1st and 2nd liens. charleen can’t refinance her interest-only second even though she has reduced the balance by $13,000.

If you are a service member on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the relief you may be eligible for under the Servicemembers Civil Relief Act or applicable state law.

6 Things You Need to Know Before You Refinance to Pay Off Debt – If you’re looking to do a mortgage refinance to pay off debt, there’s a lot to consider. Here are 6 critical things you need to know. a second mortgage or a cash-out refinance, they’ll look at this.

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