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    RallisonW's Avatar
    RallisonW Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Dec 30, 2008, 09:25 AM
    Negotiating Lower Rates on Mortgage
    We own a home in Arlington, VA, and bought it in May '07. We owe more on the house than it's worth; we're watching these low interest rates and can't take advantage of it. Our banks (1st and 2nd) aren't open to a refi. Any suggestions?
    sandkicker's Avatar
    sandkicker Posts: 43, Reputation: 3
    Junior Member
    		  
    #2

    Jan 16, 2009, 07:30 AM

    If the first mortgage is within 80% of present value of the home, then I'd try to pay down the second lien... otherwise... just keep paying your mortgages and all other debts on time and wait it out.
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