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Mortgage Professor about refinance second mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refinancing With Two Mortgages
September 4, 2000 "I have an 8.75% first mortgage with a balance of $151,000, and a 12% second mortgage with a balance of $37,300. The second mortgage brought our total mortgage debt above the value of the property at that time, which is why the rate is so high. Our ... more... Refinancing and Second Mortgages April 30, 1999 The ready availability of second mortgages both encourages and discourages refinancing, depending on the circumstances. Case 1: When the loan balance on a first mortgage is more than 80% of ... more... |
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refinance second mortgage related definitions |
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Non Conforming Loan
Non Conforming Loan A loan that does not meet the Fannie Mae or Freddie Mac underwriting guidelines. This is also known as a portfolio mortgage. The loan can't be sold on the secondary market so it must keep it and service it in its own portfolio. Non-conforming loans have ... more... Second Mortgage, Home Equity Loan Second Mortgage, Home Equity Loan A secured loan (mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence. Generally, second mortgage hass a higher interest rate and with shorter terms than a ... more... |
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More about refinance second mortgage The Zero Down 80/20 Mortgage Mortgage Financing: Beware of Predatory Lenders Home Loan Refinancing - What Lenders Don't Want You To Know Option One Mortgage Loans - Getting an Option ARM or Option One Mortgage Loan Debt Consolidation Refi Loans - Eliminate Debt with a Mortgage Refinancing A Guide To Finding the Best Nashville Mortgage Companies Online Mortgage Loan Companies Are Convenient Refinance Your Home Mortgage Online Home Equity Loan Information A Guide To Finding the Best Nashvlille Mortgage Companies
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