refiinancing second mortgage with LTV of 93

[it99]

I have a first mortgage I just refinanced at 3.75% but now I need to refinance my second mortgage which is at 10..75%. I owe 34 k left on 2nd mort and 124k on first. So I owe 158k and my house is worth around 165k-170k. Any ideas of what I can do to refinance the 2nd mort. Not sure if its Fannie Mae or not and if I'd qualify for the HARP program. Thanks

[greenskeeper]

It wasn't possible to refinance the entire balance into one note?

[Petunia 100]

Your interest rate actually isn't too bad, given that you exceed the magic 80% LTV. For example, a quick Google search turned up this lender https://www.americafirst.com/persona...-of-credit.cfm who is currently doing 100% LTV home equity loans for 9.5% with a variable rate for a 10 year term.

Is your 10.75% fixed or variable?

I think your best bet is probably to aggressively pay down your second until you get to the magic 80%, then re-evaluate.

[Petunia 100]

Well now that I have said that, look at this one:

https://www.soundcu.com/personal/home-loans/fixed-home-equity-loans/

That could work really well. Rates from 6.24% - 7.24% fixed on a 10 year term.