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How can you get your mortgage and second mortgage lowered?

In: Loans, Mortgages, Home Equity and Refinancing, Foreclosure, Money Management [Edit categories]

Answer:

Your best bet would to pursue a refinance as it would pay off both mortgages by creating the balance of both into one note. Given the current low interest rates it has proven to be of great help in making payments and homeownership significantly more manageable.

First answer by ID1264806186. Last edit by ID1264806186. Question popularity: 1 [recommend question].

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Relevant answers:

How does a second mortgage appear on your original mortgage?
It does not appear on your first mortgage, but it both mortgages do appear on your credit report & title.
Owe 65 thousand to first mortgage 40 thousand to second mortgage but second mortgage is foreclosing?
In foreclosure proceedings the 1st mortgage gets their money first. Either the 2nd mortgage will have to buy the 1st mortgage entirely and then sell your house or they will have to hope that whoever...
Do you have to seek approval from first mortgage for a second mortgage?
You should review your first mortgage document for any requirement that the lender must be notified before you execute a second mortgage. If there is no clause to that effect then the answer is no.
If your first original mortgage is current can a second mortgage foreclose?
Yes. Any lien holder can initiate foreclosure proceedings when their lien is in default.
Is there a requirement for the second mortgage to be included on the first mortgage insurance?
There is a document called the loss payee clause. Each lender needs their own clause, they can't be combined as one document. So yes there is a requirement for the second mortgage to be listed as a...

How can you get your mortgage and second mortgage lowered?

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