What Are 2nd Home Mortgages?

Answer Second mortgages offer homeowners a way to take advantage of their home equity for any number of reasons. Although they have become popular as a method of consolidating debt, there are risks to fur... Read More »

Top Q&A For: What Are 2nd Home Mortgages

What is the volume of home mortgages in the U.S. per year?

Based on statistics from the FDIC, mortgage originations peaked in 2003 at almost $4 trillion and have steadily declined since then. In 2008 mortgage originations totaled $1.5 trillion, lower than ... Read More »

What Is the Difference Between Home Equity and Mortgages?

Home Equity Loans and Home Equity Lines of Credit are mortgage products offered by banks that can that occupy a first or second lien position on a home. Most home equity loans are portfolio loans t... Read More »

How to Refinance Upside-Down Home Mortgages?

It's wise for homeowners to take advantage of lower interest rates and refinance their mortgage loans. Regrettably, if you're upside down on your home loan (owe more than the property's worth), get... Read More »

How to Refinance Home Mortgages for People With Bankruptcy?

Contrary to belief, getting a mortgage while in bankruptcy or shortly after one is discharged is possible. If you are a loan officer seeking ways to refinance your bankruptcy clients, there are sev... Read More »