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My 2nd mortgage term is expiring in six months. Can I get another one to cover outstanding balance?

by kellyscotten787 from Rocky River, Ohio. May 5th 2016 Reply


Brad Miller (bmiller)
#118 ranked lender in New Jersey - 15 contributions

you can refinance your first mortgage and combine the two or do a refinance of the first and get a new 2nd.

May 5th 2016
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Tim Bradford (Tim Bradford)
#6 ranked lender in Ohio - 145 contributions

Kelly, You do not provide enough information to really answer your question. You are welcome to call me if you want a better answer. But, Generally I would say you need to talk with your current lender about extending the dates on your 2nd mortgage. Or consider combining your mortgage into one loan. Todays rates are great so that might be a good option. Give me a call and I will gladly offer my suggestions.

May 6th 2016
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

There is no way to answer that question without a full application and review of your situation. Contact a loan mortgage broker in your area, give them a complete application, and see what they say. For mortgage loans in MN, SD, and WI, visit me at www.Mortgage-Rochester.net

May 6th 2016
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Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 418 contributions

The comments left by the lenders are all valid points to consider, you may be able to re-negotiate your existing 2nd and/or combine them together with a refinance.It would be best to sit down with a local mortgage loan originator and see what your options are.

May 6th 2016
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