Refinancing combo of Fannie Mae 1st with HELOC

With your high LTV, you likely wouldn't be able to combine the first and the second. However, you could possibly improve your payments with one of the HARP 2 refinances; yours would specifically be the DU Refi Plus program, which is getting approved with greater success right now. That might allow you to pay down your 2nd mortgage a little faster to eventually get you down to one mortgage payment. Depending on your specific circumstances, and ability to pay down the 2nd mortgage, a VA loan might still work for you, but I wouldn't bet on it. Seek out an experienced mortgage broker in your area and run through a few scenarios with him/her. The real goal should be to get you in a better situation than you're in now, then you can work on simplifying later. Best of luck to you!

There is no refinance product where your scenario would be eligible... You can go VA, however you would have to pay down your mortgage, since VA will only go 100% LTV. And you can refinance your first, which would still save you money.. but to be sure, contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. 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

send me your address and I will pull some comps for you yourloanpartnerforlife@live.com this will make a deciding factor... linda

In today's lending world, no one is combining mortgage where the new Loan to value is over 90% of the appraised value, and most are limiting the LTV to 85%. Contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Harp 2 the first sounds like your only option