Best of Luck,
Century 21 Tenace
If the second was used to purchase the property...then it would not be considered cash out. In addition, there is one wholesale lender that wouldn't consider it cash out if you haven't ued the line of credit in the last 12 mos.
Your refinance is a little tougher and will utlimately depend on how long you plan to keep your home. Refinancing the 1st mortgage and subordinating the second is another option.
Hope this helps. If you have any questions...Don't hesitate to reach out!
Home Mortgage Consultant
I need more information from you to give you a good answer to your question.
I do work with an excellent lender who may be able to get you the refinancing that you are looking for, however the lender will need far more information.
I recommend that you call me at my cell phone: (408)509-6218
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: firstname.lastname@example.org