2nd Mortgage Share

2006.Bought bought a house in October, with no money. They have 80/20 loans: 7.125% a second loan is 10.5%. 5/ARM only interest. The price was $ 584,000 in the district of Los Angeles. Home purchased below market value, the houses are now in my area for $ 650K and sold up.How I can refinance with a fixed interest rate and what I can do to avoid a second mortgage on jumbo loans and pay PMI? not a lawyer or mortgage broker to believe, but to get a first novel, you have to pay (or refinance) your current first and second (so that news can be the first "first" and not behind the current "second") is not a problem. enough for recognition if they are based 80% on the day before the assessment, you can pay by other means, while the refinancing of a problem to juggle both. If you can not get any hybrid pair. well. in terms of time. Make aware of prepayment penalties on existing loans.