If you are a homeowner in need of an equity loan, but do not wish to refinance your existing mortgage, you have the choice of an equity line of credit or a second mortgage loan. Each option has advantages and disadvantages over the other. Here are several suggestions to help you decide which home equity [...]
Financing home improvements with a second or third mortgage allows you to maintain or increase the value of your home. With home equity loans secured by your property’s value, mortgage rates are relatively low. In addition, tax laws also allow you to deduct second mortgage interest in some cases.But before you sign for your new [...]
Everywhere you go, advocacy groups are urging stricter laws on non-conforming 2nd mortgages and home equity loans. Sub-prime mortgages are likely to be more costly than “A -paper” loans, but they are intended for borrowers who pose a greater risk to lenders. In most cases they are considered non-conforming because of the lack of credit [...]
