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Mortgage Professor about 2nd mortgage versus refinance: | |||||||||||||||||||||||
Can Mortgage Refinance at a Higher Rate Make Sense?
April 8, 2002, Revised November 17, 2004 "Does it ever make sense to refinance into a mortgage carrying a higher interest rate than the mortgage you already have?" Very often it does not. Mortgage borrowers refinancing at higher rates ought to use the 72 hour ... more... Mortgage Refinance Tutorial Here is what you will learn in this tutorial: 1. What does "saving money" on a refinance mean? 2. Should you finance the origination costs? 3. What hazards must be avoided? 4. Determining whether or not you will save money: what is the ... more... |
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2nd mortgage versus refinance related definitions |
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Refinance
Refinance Refinancing refers to applying for a mortgage loan intended to replace an existing loan secured by the property. Homeowners usually consider refinancing for the purpose of getting a better interest rate, loan term, or to draw cash from the equity. ... more... Wraparound Mortgage Wraparound Mortgage Mortgage Loan which provides a buyer with the amount of the remaining balance on a seller's mortgage plus an additional amount which is requested by seller as part of the contract of sale. Payments are made to the lender who holds the wraparound loan. ... more... |
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More about 2nd mortgage versus refinance Refinancing Your Mortgage - Is It The Right Choice For You? Deciding Upon a Refinance Lender 1st and 2nd Mortgage Refinance Loan - Why Refinance Both Mortgages? Refinance Online 2nd Mortgage or Refinance and Cash Out Refinance Home: Distilling Cash by Renewing Home Loan 2nd Mortgage - Better Than Refinancing Second Mortgage Secrets Ask the Expert: When Do I Refinance My Home? Understanding Home Loan Refinancing Costs
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