I have a beautiful home purchased with a 10 year libor at 6.5%. We are not in default in any way, we have only been in the house about 18 months and my husband found work is now about 300 miles away. I think if we could unencumber the house's second we could sell it, pay down the second and find another property who's LTV would accommodate the balance.

Is that doable?

Not really transfer, you could get another 2nd mortgage on the new property, with the purpose of paying off the other second mortgage. ** I guess about same issue but it will not transfer but have to be paid off with another mortgage