Is it possible to partially pay off second mortgage and include the remaining into first mortgage and refinance a single loan?

It really depends if your underwater or not.. If you're asking about a HARP refinance, then the answer is no since these loans are only for underwater borrowers, and you can only refinance the first.. If you're talking about a conventional or FHA / VA, then yes so long as you are within the acceptable Loan to Value requirements, but only on full up qualifying. If you have an FHA and wish to do a streamline, you cannot add a 2nd, however if you do a full up qualifying with appraisal, then you can add the 2nd into the first so long as you're not over the acceptable LTV range. 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

Have you considered a reverse mortgage? This type of loan allows you to convert some of the equity in your home into tax free cash.Both a reverse mortgage and a traditional mortgage loan use the equity you have in your home to generate cash. However, with a traditional forward mortgage loan you need to make monthly payments on the principal and interest. With a reverse mortgage you don't need to make monthly mortgage payments for as long as you stay in your home to qualify for this loan. You must be age 62 or older. You must plan to live in yur home as your primary residence. There are currently no income or credit score requirements. If you should have an interest, call me or email and I will answer any questions you may have without any pressure or obligation. I am a local agent in Maryland. Ivan Lowe 410-979-1430, ilowe@southerntrust.com or apply on line at www.southerntrust.com/ivanThank you and good luck!

Simply put, Yes, as long as you have enough equity in the home. However, you cannot do this using the HARP refinance program. That program is only designed to refinance the 1st mortgage and cannot include a 2nd or any portion of it.