Posted on: 30th Mar, 2010 10:52 am
my 2nd mortgage interest rate is 9.50 % and currently my bussines is 50 % down I cant afford, i talk to lender to lower my interst rate they reject. at this point what i can do?
keep paying as best you can. a rate of 9.5% on a second mortgage isn't that awful in the overall scheme of things, and the modification business is really aimed at first mortgage liens.
if you qualify for a refinance that may help. you can combine your 1st and 2nd and have an overall better interest rate.
