Are there government programs that allow consolidation of 1st and 2nd mortgages?
Would like to combine 1st and 2nd mortgage into one 30-year FRM. LTV for both loans combined is 90-95% (pending updated appraisal). I understand that HARP program does not allow refinance of 2nd mortgage. However I have read, on this site, that there are other government programs that do allow you to consolidate 1st and 2nd mortgages. Does anyone have specifics, e.g. names, of these programs? by mituck_704_638 from Atlanta, Georgia. Apr 15th 2012
J.D. Peck (TheJDPeckLendingTeam)
#44 ranked lender in Colorado - 82 contributions
I agree with Mr. Bennet, and would also like to add that the only way you can obtain this LTV with a conventional mortgage in order to combine the two loans is if the 2nd was for the purpose of purchasing the home. If you took out the 2nd seperately or at a later date, this would be considered a cash out refinance.
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