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Loan Modification Combining 1st and 2nd Mortgage

Answered by: 
Randy Carey

Question: 
Can I modify a first mortgage to include balance owing on a second mortgage?
Answer: 

Whether it can be accomplished would be a question for your legal counsel. From a compliance perspective, if completed, it would be a refinance and trigger all required disclosures ( RESPA, TIL, etc.).

First published on BankersOnline.com 3/14/11

First published on 03/14/2011

Filed under: 
Compliance
Lending
Filed under compliance as: 
Disclosures
IT
RESPA
Filed under lending as: 
Disclosures
RESPA

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