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Mortgage Professor about buying second home and retirement: | |||||||||||||||||||||||
Cash-out Mortgage Refinance or Home Equity Loan?
Column Delivered August 21, 2000, Revised September 6, 2002 ?I need $50,000 to remodel my house. Is it better to refinance my existing mortgage (with a balance about $140,000) into a new $190,000 mortgage, or should I borrow the extra $50,000 with a home equity loan.? ... more... Second Mortgage Versus Home Equity Loan June 9, 2003, revised August 30, 2003 "What are the differences between a second mortgage and a home equity loan?" The terminology is confusing. A second mortgage is any loan that involves a second lien on the property. Some second mortgages are for a fixed dollar ... more... |
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buying second home and retirement related definitions |
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Second Home, Vacation Home
Second Home Second home is a seasonally occupied property that is not the primary residence of the owner. Such residences are usually found in areas with substantial opportunities for recreation or tourist activity. Second Home As Investment However, when market is ... more... Vacation Home Vacation Home Vacation home is a seasonally occupied property that is not the primary residence of the owner. Such residences are usually found in areas with substantial opportunities for recreation or tourist activity. Vacation Home As Investment When market is ... more... |
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More about buying second home and retirement How to Afford Your Dream Home 10 Easy but Essential Steps for Home Selling Success 11 Steps Away From Buying a Home Second Mortgages and Home Equity Loans High Tension for the Buyer and Seller of Real Estate Can Be Reduced Buying a Vacation & Retirement Home Debt Consolidation and Debt Management For Maximum Relief: Part 2 Buying A Home In Dublin California Getting Raw Land, Not a Raw Deal! Home Buying Process: 15 Tips for First Time Home Buyers
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