How To Withdraw Equity For Home Improvement It may be that you are purchasing a property that needs renovation or perhaps you want to give your existing home a tune up. The cost of doing major renovations is likely to be too high for you to fund it out of pocket, so what do you […]
Tag Archive | "second mortgage"
When you finance the purchase of a home, in most cases, you will either have to make a sizable down payment or take out a private mortgage insurance policy (PMI). The choice is cut and dried for most borrowers. But in some cases, if you want to have the most refined control over your costs, […]
Cash-out refinance or a second mortgage can be used for debt consolidation if that becomes necessary. If the monthly payments for your various debts are getting too much for you, and you have equity on your home, it makes sense to use that to pay the debts off. The interest you are paying on loans […]
Using a second mortgage for debt consolidation is one way of solving your debt problems. However, before opting to take this route you must consider the pros and cons. The pros might be obvious to you, but there are implications that might not be immediately obvious. Here are some of these. Second Mortgage Subordination When […]
Mortgage refinance is not always possible if there is a second mortgage on the home. In fact, many people get confused by the two terms: refinancing a mortgage and taking a second mortgage. They are quite different, and sometimes one or the other is the wisest step to take. We shall first discuss the difference […]