Kristy Annely asked: The idea of refinancing your second mortgage is undoubtedly attractive – if you can pay off your present 2nd mortgage by obtaining another with better terms. But beware – refinancing your 2nd mortgage is only advisable under some situations. Study the prevailing interest rates and determine whether they are conducive to refinancing. [...]
Lynda Nelms asked: I had a recent conversation with one of my clients, Mr. Jackson, who is a finance savvy homeowner from Virginia Beach, VA. He asked me an interesting question that I wanted to share with you, because it seems to be a common dilemma for homeowners in many states.What the best solution for [...]
Terry Edwards asked: There are many reasons why an individual needs to take out a second mortgage on their home. Normally, why you would want to take out an additional mortgage is because you require a large sum of money. Some of the most common reasons for this are because of an unexpected bill, such [...]
Carrie Reeder asked: Refinancing a first and second mortgage requires some extra considerations. Depending on your equity, you may find that combining the two mortgages results in a higher interest rate. You may also find that you have to carry PMI with the refinanced mortgage.Will Refinancing Benefit You?Refinancing two mortgages allows you to consolidate your [...]
BestSyndication asked: (Best Syndication) This video will explore the option of refinancing a loan as opposed to taking out a second mortgage. When you refinance a mortgage you are taking out a secured loan that will replace your existing mortgage. As the numbers of foreclosures increase around the country, it…ELTON