Is taking a second mortgage smart?

Answer On One Hand: A Second Mortgage Can Help In Hard TimesA second mortgage is taken out on a house or property that still has an outstanding mortgage loan. If you desperately need money, for a roof rep... Read More »

Top Q&A For: Is taking a second mortgage smart

Can you refinance a primary mortgage without refinancing a second mortgage?

It is possible to refinance a primary mortgage without refinancing a second mortgage by subordinating the second mortgage. Subordinating a second mortgage means you are filing a document so that th... Read More »

Can you have a second mortgage included with a reverse mortgage?

A borrower who is 62 or older can purchase a reverse mortgage to pay off any and all debt on their primary residence, including a first and second mortgage debt.SignificanceA reverse mortgage pays ... Read More »

Is it possible to combine your mortgage&second mortgage at 100% ltv?

On One Hand: It is PossibleAccording to independent mortgage broker Tony Saenz, it is sometimes possible to take on a 100 percent loan to value (LTV) mortgage, which may enable you to combine first... Read More »

Is a home equity mortgage the same as a second mortgage?

Yes, a home equity loan IS a 2nd mortgage.Some people however, consider a "2nd mortgage" to be a closed-end fixed rate lump sum loan. While a "line of credit" is revolving and can be used over and... Read More »