Financing in 30022>Question Details

Johndoe, Home Buyer in Atlanta, GA

Looking to Refinance - any reliable/honest recommendations?

Asked by Johndoe, Atlanta, GA Wed Nov 7, 2012

Looking for a good agent/direct lender to refinance my property (currently 26 yrs remaining with $383k balance, @ 4.74%). I have a 2nd mortgage for $30k, 26 yrs remaining (used to when I first bought the house). I do not pay PMI.

My goal is to reduce monthly payment if possible. I estimate my value dropped from $515k (2008) to $500k now.

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Help the community by answering this question:


I would love to help you with this and I can also provide references for you. I work for a local bank here in Atlanta and my turntimes on a refinace are under 30 days. I am available 7 days a week up until 8:00 pm.

Marc D’Angelo
Mortgage Banker
678.442.3405 Office
678.985.6834 Fax
404.925.8291 Cell
apply online:

50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
0 votes Thank Flag Link Wed Jan 23, 2013
I would be happy to help you with this. I can lend nationwide. My email is and phone is 262-649-5439.
0 votes Thank Flag Link Fri Nov 9, 2012
What you might also want to try to do is push some of the money from the second mortgage onto the first position. Because you took the second mortgage out at the same time as the first, your loan is considered a rate and term refinance if you choose to roll the 2 loans together. Had you taken the loan out after you bought the house, it would be considered a cash out refinance if you wanted to roll both loans together.

Rate and Term refinance allows you a higher LTV vs Cash out. Therefore, you may be able to refinance to 80% of the value of the property without having to pay PMI.

500k times 80% is $400,000. If your balance is $383k (payoff is balance plus 1 payment) and you don't escrow, with closing costs included in the loan of about 2% may allow you to put roughly $10k of the second into the first mortgage. If your house is worth more (go to and check out sales in your area for 2012) then you might be able to do more. Maybe then, you can pay off the $20k easier (although I wouldn't recommend that due to possible dip in house values for 2013).
0 votes Thank Flag Link Wed Nov 7, 2012
Depending on what type of loan that you have, you might be eligible for a HARP 2.0 refinance. If so, then an appraisal may not be required. We are a direct lender, which is going to be be very important in a situation like this.

It is very likely that you will have to keep the 2nd mortgage account open and have that lender agree to a subordination.

My contact info is listed below.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Wed Nov 7, 2012
Hi John,


Kathy Vitali/Fairfield Mortgage. They are easy on the appraisal which will be critical in your case.


(770) 540-5566


(866) 726-0786


Apply Online:
0 votes Thank Flag Link Wed Nov 7, 2012
Appreciate the responses all, thanks! Will looking into the leads
0 votes Thank Flag Link Wed Nov 7, 2012
I recommend John Compton with Chase Bank. He can run your numbers for you a couple different ways. Smartest guy in the business. His cell is 678-477-4867.
0 votes Thank Flag Link Wed Nov 7, 2012
Call John Davis of WR Starkey,he is a Mortgage Broker that I use all the time and cannot say enough good things about! He never delays or causes issues, always available and is part of an awesome team. 404-461-3794 or
0 votes Thank Flag Link Wed Nov 7, 2012
I would be more than happy to help out. My company is located in Atlanta off Windy Hill. Check our our rating on Kudzu the comany name is Mortgage Atlanta, LLC. We should be able to lower your payment without PMI.

Brian Berman 678-564-1522
0 votes Thank Flag Link Wed Nov 7, 2012
I would recommend a good mortgage broker. They have multiple lenders and usually have a program that fits your specific lending needs. One of the firms that I use is Buckhead Home Loans in Roswell. Give Briggs a call - 404-303-7411. He can help you out and answer your questions. There are many more out there as well so keep doing your homework. Good luck!

Rick Musto
Buckhead Home Realty
0 votes Thank Flag Link Wed Nov 7, 2012
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