Second mortgage
Date: Mon, 12/13/2010 - 07:54
I believe they are calling me due to second mort. I took out in 2000, it was originally with Bank One they sold to Chase and now I believe it is with them. I am now trying to refiance and can't do so until I get them to release the lien. I know they won't do that until some type of settlement is reached, what can I do???
If you have two mortgages on your property, then you can refinan
If you have two mortgages on your property, then you can refinance both the loans into one. It is not necessary to pay off the second mortgage and then refinance your first mortgage. However, in order to get a refinance, there should be at least 20% equity in your property.
You should contact your present lender and request him to clarify the matter. Once he clarifies the matter, it'll be easier for you to take the right decision.
