Home | Ask Your Question | Mortgage Glossary |Free Credit Report | Mortgage Calculator
Mortgage Professor about second home: 
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...

HUD's Proposals For Reform
October 19, 2002 On July 29, 2002, HUD released a set of proposals to substantially change the ways in which home loans are originated in the US.  As usual, the proposals were open for comment, and many thousands of them were received.  Mine was among them, and is shown ... more...

second home related definitions

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...

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...

More about second home

Get Free second home Quotes and Estimates

Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Things To Consider Before Buying a Condo Hotel or Resort Residence
Resort home ownership, such as condo hotels and fractional shares is different from typical home ownership. So it is important to ask certain questions before signing the purchase agreement on a resort property. The following list of questions typically applies to most types of resort property ... more...

Bahamas Real Estate Guide to Permits, Residency and More
In 1993, the International Persons Landholding Act was put into motion to encourage foreigners to purchase a second home in The Bahamas. And it couldnt be simpler. If a foreigner buys a single family dwelling or vacant land to be used in the construction of such a dwelling, then he no longer needs ... more...

1080p HDTV Sets have Started to Emerge - Should You Opt for One?
It is all an issue of Image ResolutionThere are currently a number of different HDTV formats as adopted by the Advanced Television Systems Committee (ATSC), based on 720p, 1080i, and 1080p - using refresh rates that vary between 24 Hz and 60 Hz.The main difference between these HDTV formats is one ... more...

Debt Consolidation and Debt Management For Maximum Relief: Part 2
In Part 1, we discussed how debt management helps you learn how to get a handle on your finances. However, using debt consolidation and management together will provide you maximum financial results.Once you have developed good skills for managing your debt, you need to learn some ways to reduce ... more...

Why Buy Property Overseas - A Case History
This is a true case history detailing the purchase of a holiday home overseas. By describing a real-life experience of buying a home in Spain we explain why people buy property overseas and show how to buy an overseas property with minimum outlay.Mr and Mrs Jones bought an apartment in Spain in ... more...

Private Mortgage Insurance (PMI)
If your down payment on a home is less than 20 percent of the appraised value or sale price, you must obtain private mortgage insurance, known as PMI, with your lender. This will enable you to obtain a mortgage with a lower down payment because your lender is now protected against any default on ... more...

Single Daily Action
Where do you see yourself in 10 years? It is one of the most common questions relating to goal setting. You will find this question on a countless number of surveys and questionnaires, presented to all age groups and to people from all walks of life. Sometimes so much focus is placed on setting ... more...

Where To Get Money For a Franchise Idea
How often have you thumbed through a business opportunity magazine, noticed a franchise opportunity advertisement, and felt you'd really like to get in on that...if only you had the money? If you're like most who are seeking greater opportunity and wealth, this probably happens with you more often ... more...

Benefits Of A Relocation Service
In relocating into a new house or office, you are aware of the chaos it may bring to your life. With all the clutter in your house, the planning and preparation of the relocation, choosing the right house, and what to do before and after relocating, who could accomplish these things with just two ... more...

Guide to Lubeck, Germany
Unique pointsLubeck is a charming Hanseatic city, surrounded by a canal and a river. It has plenty of parks trees and open spaces. The best known symbol of the city is the Holtesten gate, built in 1477. Unfortuntately the gate was covered in scaffolding during my visit in June 2005, so I ... more...

Return to previous page   More articles on second home
Shop For Your Mortgage Now!
Shop For Your Mortgage Now!

You'll be re-directed to Top-Lenders.com

Current Mortgage Rates
19-Mar-2025
30 Yr Fixed Rate-1.0%
15 Yr Fixed Rate-1.0%
Mortgage Indexes
5/1 ARM-1.0%
3/1 ARM-1.0%
CODI-1.0%
COSI-1.0%
12 MTA-1.0%
COFI 11th District-1.0%
COFI Federal-1.0%
12 Month LIBOR (USD)-1.0%
1 Year CMT-1.0%
Market Indexes
WSJ Prime Rate-1.0%
FNMA 15y Fxd Yld-30d-1.0%
FNMA 30y Fxd Yld-30d-1.0%
Federal Funds-1.0%
30 Year Treasury-1.0%
Want to Know Your Rate?
Get Customized Mortgage Quote Instantly

Mortgage Indexes Info
30 Yr Fixed Rate
15 Yr Fixed Rate
5/1, 3/1 ARM
CODI
COSI
12 MTA
COFI 11th District, Federal
12 Month LIBOR (USD)
1 Year CMT
Market Indexes Info
WSJ Prime Rate
FNMA
Federal Funds
30 Year Treasury

 

ExplainingMortgages © 2005 - 2009