Who will help me to resolve my High Balance loan? I have 1st and 2nd FRM. 1st balance is 576K and 2nd balance is 72K?

Asked by Hiten, Irvine, CA Tue Aug 16, 2011

I know the rates are pretty good now a days but my home value( Irvine, CA) is showing me in the range of $660k- $690k. My FICO is excellent around 780 and i do not want to miss this lower rate opportunity this time. Please guide me and advise me what to do so that i can re-fi my loan.

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Marlene Diet…, Agent, Corona Del Mar, CA
Thu Nov 3, 2011
It all depends on your income and your debt to income ratio if you can do a refi
Even if you are making your payments now and your FICO scores are high,its all about your debt to income ratio. Contact us. We have some great lenders to recommend
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Annette Levi…, , New York, NY
Thu Aug 18, 2011
If Irvine is in the LA area (I've been to Irvine but don't know counties in California) the FHA would refinance up to 96.5% LTV if your second mortgage is at least 1 year old or was taken out when you bought your home.
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Karen Parsons…, Agent, Laguna Beach, CA
Thu Aug 18, 2011
Hi Hiten,

I have a couple of great lenders if you would like a referral...just let me know.

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Ronnie Givar…, Agent, Irvine, CA
Tue Aug 16, 2011

I'm a broker with RE/MAX Premier Realty in Irvine and I just closed a loan with an excellent lender who can help you or at least point you in the right direction in a timely manner. I forwarded your question to Mike Gleason with Pinnacle Mortgage so look out for his response. He's extremely savvy and been in business for 25 years. I was a mortgage banker for 10 years myself so I understand the importance of having a competent mortgage broker on your side. Also, if you want further information as to what the market is doing specifically in Irvine, feel free to contact me @ 949-677-4757.

Best regards,

Ronnie Givargis
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Gregorio Den…, , San Diego, CA
Tue Aug 16, 2011
Have you checked to see if your first mortgage is owned by Fannie Mae or Freddie Mac? The possibility is pretty good if you bought it with a high balance conforming loan in the last 2 years. If so, you may be able to refinance at least the 1st for the 576k. Contact me as I have some solutions that may work for you.
Web Reference:  http://WeFixRates.Com
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Ingrid Ski R…, Agent, Mission Viejo, CA
Tue Aug 16, 2011
HI Hiten,

You can also contact your lender. We did that and they reduced our interest rate and our payment went down of course. We are not late and they just did it. So first I would contact your lender to see if they have the Obama program for you and help reduce your interest rate. They don't run your credit for this.
Next would be to talk with a lender and better yet a mortgage broker as they can get a better rate than the bank usually..We can talk about the options you have....Let me know how else I can help you..
Ingrid Ski Realtor
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Emily Knell, Agent, Huntington Beach, CA
Tue Aug 16, 2011
If the comps are in that range, it can be possible to still get refinanced, the rates are awesome right now! You have about 10 days before lenders are going to stop taking new applications for anything FHA where the loan amount is more than $625,500, SO, you've asked this question just in the nick of time.

My lender is a mortgage broker so she can shop all the banks to get you the best possible rate. Her name is Patty Villanueva with United Realty & Loan, you can reach her via email at Patty@URM1.com or by calling her at 760-639-1245 X 105.

You will have to carry mortgage insurance at this point, if you haven't already been asked required to do so by your current lender with area comps having dropped, because of your new loan to value. If you'd like to get in touch with me directly, just email me or call me, I don't look back on this same thread in Trulia for answers after mine.

562-430-3053 c
Realtor Since 1996
Main Street Realtors
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Roswell Moore…, Mortgage Broker Or Lender, Scottsdale, AZ
Tue Aug 16, 2011
Hi Hiten,

There may be a way to accomplish what you are looking to do with a special program we offer. Please feel free to contact me directly, I'd be happy to answer any questions you may have on this.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
Direct: (480) 422-5095
0 votes
Michelle Lyn…, Agent, Fullerton, CA
Tue Aug 16, 2011
I have a wonderful mortgage broker in the area that I can refer you to. My telephone number is (714) 732-7575.
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