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What if a borrower has a second lien and the total debt on the property exceeds 105%?

April 26, 2017borrower debt exceeds lien Property total

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What if a borrower has a second lien and the total debt on the property exceeds 105%?

1 Answer

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10 Posted

The borrower may still be eligible for a refinance if the first lien does not exceed 105% of the value of the property and all junior lien holders agree to subordinate to the new first mortgage.