2nd Mortgage Zone

Bought house in October 2006.Bought without money. Has 80/20 loans: loans 7.125% Other 10.5% alone. 5/ARM interest alone. The price was $ 584,000 in the neighborhood of Los Angeles. Bought house below market value to sell the houses in my area for $ 650K and up.How soon can I refinance a fixed rate and what can I do with the second mortgage for jumbo mortgage to pay and interest and PMI? not a lawyer or a mortgage broker, but he believes that a new first have to pay you (or refinance), both existing and first and second (so new can of the current first "first" and not behind his "second" ) no problem, if there is enough recognition to make 80% in the first, based on current valuation. or it could be a problem in juggling both paid off and refinancing. If you can not get any other hybrid. to. of timing. Make sure you aware, prepayment penalties on existing loans.