Home Equity Loan
Home
Equity Loan
A
home
equity loan is borrowing against the equity
you have acquired in your home.
Lets
suppose your original mortgage was $175,000.00, but your house is worth
$225,000.00. The difference is $50,000.00. ...
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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 ...
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