Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

interest rates on 2nd

Posted on: 02nd Mar, 2009 04:46 am
we have a 2nd mortgage on our home with a interest rate at 15% we have been trying to refi this loan, and NO ONE WITH HELP, we know everyone is afaid to help or refi. we have a 1st mtg rate at 61/2 which we are fine with, its the 2nd mtg
hi ruthroulo,

in the current market scenario it would be difficult to refinance the second loan. i think you should go for a consolidation of the two loans. shop around and try and get a mortgage of a bigger amount at a comparatively affordable rate which can help you pay off your two mortgages. you can check out the following link which can help you compare between various mortgage offers and find the best option for you:
http://www.mortgagefit.com/calculators/consolidate-refinance.html

thanks,

jerry
Posted on: 02nd Mar, 2009 05:36 am
"we have a 2nd mortgage on our home with a interest rate at 15% "

don't you think that the interest rate paid by you is too high.

One more think it will be really difficult to get the refinance & that too for second mortgage so i think consolidation could be one of the good choice to look for.

Jerry rightly advised you on this subject. But i still think that the 15 % is too high. you can negotiate it again with the lender. :wink:
Posted on: 02nd Mar, 2009 05:53 am
Page loaded in 0.108 seconds.