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Hi cclan,

Does anyone know of a lender that will let us do a home equity line or a 2nd when we have a Negative Am on our first mortgage?

First off, since you have a neg-am loan you can, in essence, borrow a smidgen at your existing 1st rate each month. Are you sure you need a bigger chunk right away?

If the answer is yes, you may definitely be better off refinancing the whole mess now, since rates are so sexxy, and getting your cash-out with a better rate & term scenario.

Lastly... if you just MUST stack a 2nd behind a neg-am, YES, there are lenders... but it ain't pretty, and they don't go very high on Loan-To-Value... so don't build up your hopes too much.

Need more specific help, post back with more details and I'll dig up what I can for you.

Dave Donhoff
Lic. Mortgage Broker
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