Question

 When is it good to take out a second mortgage?

Answer On One Hand: It can be smart moneyThe second mortgage, or piggy-back mortgage, is a small loan in second lien position to the first. It can be used as revolving credit, as in the case of a home equ... Read More »
http://www.answerbag.com/q_view/1969709

Top Q&A For: When is it good to take out a second mortgage

Can you take out a reverse mortgage on a second home?

Reverse mortgages cannot be taken out on second homes. This type of mortgage can only be taken out on the borrower's primary residence, which is where he or she lives most of the year.Source:Freedm... Read More »
http://www.answerbag.com/q_view/1870094

Is a second mortgage a good idea?

On One Hand: If You Need the Money, Get that Second MortgageA second mortgage is a loan using your already mortgaged house as collateral. If you default on your loans, the lenders can repossess you... Read More »
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What is a good credit score for a second mortgage?

On One Hand: The Credit ScoreYour credit score (FICO) is a numerical rating of your creditworthiness, taking into account factors such as payment history, type of debt and how close you are to your... Read More »
http://www.answerbag.com/q_view/1983031

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 »
http://www.answerbag.com/q_view/2232165


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