Archive for the ‘second’ tag
Second Mortgage
Can you get a new loan for half the equity in your house?
So your second payment will be based on a 30-year fixed rate rather than a refi. Will it be a smart thing to do. When you sell out you can pay the second mortgage with the first and still go with the rest of the equity. Is this legal, and it makes since.
I do not think you will find a 30-year second and second generally have higher rates. Better to refinance with equity out and get a new 30-year fixed.