2nd Mortgage Story

He bought his house in October 2006.Bought no deposit. 80/20 Fez loan: 7.125% 10.5% Other loans first. Interest Only 5/ARM. The price was U.S. $ 584 000 in the Los Angeles area. He bought the house below market value, the houses around my area sold for $ 650k and soon up.How can refinance at fixed rates, and what I can do with a second mortgage to avoid a rate of huge interest on loans and paying PMI? not a lawyer or mediator, but believes that to get a new place first, he must pay (or refinance), the current first and second (so that the first news may be the "first" and not behind "the others) is not the problem, if there is sufficient recognition to 80% in the first, based on the actual assessment. or may be a problem paying juggling and refinance both simultaneously. Unless you can get a couple more hybrid. too. In terms of timing. Make sure you are aware of any penalty for early repayment of the loan.