I'm at 115% LTV, of which 35% is a second. 1st at 4.5%, 2nd at 7.5%. Any chance to refi? Maybe with a smaller 2nd. Have $20K cash.

i may be able to help you qualify for the HARP loan. This loan will refinance both into one loan with a low rate regardless of your value. please start my going here https://knowyouroptions.com/loanlookup to to see if you are eligible. Please can contact me at 415-580-2262 or Sal@mortgagebayarea.com

you may be able to refinance the first, but I don't know of any programs that won't require you to subordinate the second. I don't believe HARP will allow you to combine the two.

The harp loan will only do the first mortgage only. They will have to sub the second if your current lender allows you to do such. Please call me so we can talk on this. 435.764.8709 or go to my website and apply and we can get this done for you!thanks

HARP allows you to refinance and you typically do not need an appraisal. However HARP only allows you to refinance the first position lien so long as it is held by Fannie Mae or Freddie Mac.. this is a requirement for your loan to be HARP eligible.. There are no programs that will allow you to refinance both loans into a first if you are underwater.. If you have VA benefits, you can do a 100% LTV loan.. if your $20K is enough to get you at 100% or lower, that might work.. and FHA allows for 97.75% LTV, but there's mortgage insurance.. It's best you sit down with a professional mortgage broker and let him look at your exact scenario.. once he has all the info, he can advise you properly.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

You are not in that bad of a position. I don't know your exact numbers but you won't be able to get a single loan if your valuation of 115% is accurate. If brining in $20K gets your LTV down to 97% you can FHA if it gets you to 100% you could go VA assuming you are a vet. But if neither is the case use the $20K to pay down and pay off your second as fast as you can. 4.5% on the 1st assuming it's a 30 year is a favorable rate. Once you pay off the 2nd use the same amount to advance pay your 1st to get the balance down to hit a workable LTV. I'd like to give you more accurate numbers contact me and I'll run the numbers for you.