1. I'd like to refinance my 1st again to take advantage of the significantly lower rates at the moment. Unfortunately, my home remains underwater and I'm told that I cannot refinance through the HARP program a second time. That said, is anyone aware of other refinance options for a 1st loan that was previously refinanced via HARP DU Refi Plus?
2. I have a 2nd that is currently locked at a rate of 7.25% with a balloon payment due in March 2018. Ideally, I would have liked to have consolidated this loan when I refinanced my 1st loan, but no dice when the house is underwater. That said, is there any wisdom (or even the possibility) in looking to "refinance" the 2nd into a HELOC or similar variable rate loan without a balloon payment? I'm open to taking a risk on a variable rate in exchange for eliminating a balloon payment that would wipe almost all of my savings.