Start Consolidating first and second mortgage loans

Consolidating first and second mortgage loans

But Natalie Brown, spokeswoman for the Wells Fargo Home Equity Group, says her bank is still reviewing the guidelines to determine whether it will automatically agree to take second place behind the new HARP loans.

But if your second loan has a fairly low balance, it might not be worth the cost of combining the loans.

If your home equity lender says “no” to resubordination but you still want to refinance, one solution would be to pay off the second loan.

Benjamin says Redwood Credit Union will consult with members about the feasibility of doing so.

Doing nothing is the easiest course of action, even if it’s not always the cheapest.