HARP 2 and 2nd Mortgages

The new HARP 2 is set up to provide relief to homeowners that are upside down.  One of the requirements of the program is that a borrower who is refinancing with through HARP may only refinance their first mortgage and they cannot "roll in" a 2nd mortgage.  What does a homeowner do if they have a 2nd mortgage? Short answer - they need to get moving and apply for HARP now!  Second mortgages must be re-subordinated.  Re-subordinating a 2nd lien can take time and the results of a … [Read more...]