Category Archives: second mortgage
An individual’s home is the biggest asset that one has at his disposal. A home to back you up when you need a loan is one of the greatest advantages of home ownership. In recent years, there has been a major boom in the amount of people looking to use their homes as a way to get access to extra money when they need it most. One of the best ways to do this is through a second mortgage.
In simple terminology, a home equity loan is a loan taken against your house. A home equity loan is also called a mortgage or a second mortgage. Another synonym for home equity loan is equity release schemes.
There are several mortgage companies that offer a rich array of loan products of services. Below is short list of these mortgage companies.
A second mortgage is a mortgage whose terms are subordinate to the first mortgage. Loans with a second mortgage are usually done when the homeowner needs money in order to pay for an existing loan.
Mobile home refinance? Why not? There are several reasons why you should get a mobile home refinance loan. Here are some of them:
A second mortgage loan is a subsequent loan and subordinate to the earlier mortgage. In other words, a second mortgage loan is used as collateral pledged for the first loan.
The other term for a balloon payment mortgage is a partially amortized loan. Balloon payment mortgage is when your liability or obligation is only partially amortized, leaving the rest to be paid upon the completion of the term.