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LawTalk
LawTalk, Attorney
Category: Real Estate Law
Satisfied Customers: 35374
Experience:  I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.
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I had two mortageges at my primary home. The second was

Customer Question

Hello i had two mortageges at my primary home. The second was written off by the mortgage company this year. My question is Can i refinance or change mortgage comapny for the first mortgage with the second written off ?
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  LawTalk replied 6 months ago.
Good afternoon,I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today. Only the debt was written off---and that was only for tax purposes. There is still a lien on the property relating to that debt. You can modify the mortgage with the same company and they will keep their position. However, if you refinance or get a new loan the new lender will have to get the other lien holder to sign a Subordination Agreement allowing the new lender to take first priority on the property. But this is done all the time. You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.I hope that I have been able to fully answer your question. As I am not an employee of JustAnswer, please be so kind as to rate my service to you. That is the only way I am compensated for assisting you. Thank you in advance.I wish you and yours the best in 2016,Doug
Expert:  LawTalk replied 6 months ago.
Good evening,Do you have any additional questions that you would like me to address for you?In case you would like a phone call to further discuss these issues you have raised, I will make that offer to you. You are certainly not obligated to accept a call offer, but many people do find it helpful for clarification purposes, as well as to allow them to ask additional questions.As I have provided you with the information you asked for, would you please now rate my service to you so I can be compensated for assisting you?Thanks in advance,Doug

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