I have two loans that comprise one mortgage. Is it possible to refinance only one?

boobiecat asked:


The first loan is a decent interest rate, but the second is high. Can I refinance just the one to get a lower rate?

Ruby

Tags: Loan Interest, Loans, Mortgage Refinance

This entry was posted on Thursday, December 11th, 2008 at 4:41 am and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “I have two loans that comprise one mortgage. Is it possible to refinance only one?”

1. golferwhoworks Says:
   December 14th, 2008 at 12:30 am

   you can try but any second deed of trust will be a higher rate as their position is at a greater risk
   I am a mortgage banker in TN & KY

2. Jay S Says:
   December 15th, 2008 at 4:17 am

   Yes you can refi it, technically.
   Banks have really cut back on their willingness to lend though and second position liens are getting squeezed out.
   Give it a try.

3. zelayan Says:
   December 15th, 2008 at 4:06 pm

   Yes. I did it.

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