“The lender offered me a first mortgage refinance at a rate of 4.65 percent plus one point for 30 years, with no PMI, and no income or asset verification.”
Are you for real?
Take the refi and then pay your mortgage. Your 2nd mortgage is probably at 3%. What are you whining about?
You made a choice and now your lender is bending over backwards to help you out? They usually aren’t that anxious to help. Be grateful and move on with your life. What is the problem?
P.S. I get the 155% LTV. That is a risk you take when you don’t use a down payment.
