2nd Mortgage Guide

2006.Bought Bought house in October with no money. Has 80/20 Loan: a 7.125% Loans 10.5%. 5/ARM just interested. The price was $ 584 000 near Los Angeles. Home purchased below market value, homes are now in my area for $ 650k and sold up.How I can refinance to a fixed rate, and what I can do on the second mortgage for a jumbo loan rates and avoid paying PMI? not a lawyer or a mortgage broker to believe, but to get a new first, you must pay (or refinance) the current first and second (so that new ones can be the first "first" and not behind the current "other") is not a problem. if they build up enough recognition to the 80% first-to-date assessment may be different, while refinancing a problem juggling both. If you can not get any hybrid pair. too. The question of timing. Certainly aware of prepayment penalties on existing loans.