I have a second mortgage that I am attempting to try and refinance but I'm underwater in my townhome is this durable

Unfortunately your second mortgage will not be eligible to be refinanced unless it is owned by Fannie Mae or Freddie Mac, or unless your current lender will allow a renegotiation of terms. If your first mortgage is owned by Fannie or Freddie and was sold to them prior to 6/1/09 then it can be refinanced under HARP but if not then you have little choice but to try to get your current lender/servicer to help you. Supposing that the first was HARP eligible then you can refi it and then get a subordination agreement from the second.

Your question is not clear, but if you have a townhouse that is underwater, and you have a 2nd mortgage, and you're trying to refinance the 2nd only?? Then it's possible your existing lender might have a program to help you, but that's it.. If you're looking to refinance your first, and it qualifies for HARP 2.0, then you can refinance that mortgage.. But the way your question is written, I can't tell if you're talking about one properties or 2, or if you have 2 mortgages on one property or 2 mortgages on 2 properties.. Very confusing.. Sorry.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

If you have a first mortgage owned by Fannie Mae or Freddie Mac or FHA, you may be able to refinance the first mortgage and subordinate the second. Without enough value, the second lien holder would not be willing to refinance at this time.

If your property is underwater, you may be able to refinance the first mortgage but probably not the 2nd. And, You will only be able to refinance the first IF the holder of the 2nd allows their mortgage to be re-subordinated the new first (some will not). I have not heard of many holders of 2nd mortgages that are willing to refinance the terms of their mortgage but it doesn't hurt to inquire.

Sell it Short Sale if you are more than $75,000 upside down.

there is another way... please email at yourpartnerforlifelive.com linda

email me at yourloanpartnerforlife.@live.com linda

To answer some of your other questions and maby bring more light to your 2nd mortgage issue, please feel free to visit my website.It has tons of information that could help you out. I'm located in Minnesota and only do loans in Minnesota but I hope I have been of some help. www.loanzasap.com David BuchananNMLS #926142Pioneer Mortgage FundingNMLS #1980

Contact Linda, she may be able to help you out.

As a general rule, a second mortgage on a property that is underwater is not refinancable. Your only real option is to contact your lender and see what they can do for you. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950