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Can You Refinance A First Mortgage Without Refinancing Your Second Mortgage?

Question by helloisthatyou | Posted in Renting & Real Estate


Answer: Only if the second lender agrees, and they quite won't. The technical term is "subordination." If the second lender won't subordinate to a new first accommodation, you're SOL.

 
 

Can A First Mortgage Be Refinanced To A Lower Rate If There Is Also An Existing Second Mortgage?

Question by cookingmomma | Posted in Renting & Real Estate

If a homeowner has a first mortgage and a second mortgage, and would like to refinance the first mortgage at another terms, can this be accomplished - does the existing second mortgage put a monkey-monkey wrench in refinancing the first?

Answer: if the 2nd mortgage holder agrees to subordinate it can be done. heres the place when u refi, the 2nd mortgage automatically becomes the first, therefore ur new mortgage would be in 2nd lein position, which would be at a higher reproach than you are

 
 

Refinancing For Debt Consolidation -- Second Mortgage Benefits?

Question by PR-mom | Posted in Renting & Real Estate

I'm looking to refinance for indebted consolidation. Is it better to refi my first mortgage which is at 5.625% or obtain a second mortgage?

Answer: Even though your first mortgage grade is at 5.625%, you would have to consider your blend rate if you opt for a second mortgage. Either way (HELOC or HELON), your interest figure will be much higher than your current rate, so if your blend rate matches

 
 

I Like To Know If There Is A Company Will Refinance Second Mortgage After 1 Month Of Purchase.?

Question by tristenvo2000 | Posted in Renting & Real Estate

I would like to grasp if there is a company who will refinance second mortgage after the house being purchased a month. If they do it will they do the quotation up the appraisal instead the price of the last month purchased. I like to do stated revenues

Answer: Confirmation your Note for the 2nd mortgage you're trying to refinance carefully. Many 2nds have prepayment penalties!!!! That would prosper any changes probably not worth it, as they're usually somewhere around 6 months benefit of interest in the first

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What Is The Difference Between A Second Mortgage And A Refinance?

Question by gwizzle2002 | Posted in Other - Home & Garden

I am financing a jackpot and was told by the lender that a refinance and a second mortgage are the same thing. Is that correct?

Answer: No. A refinance gives you a new mortgage with a minuscule interest rate.

A second mortgage is a mortgage taken out on property that already has one mortgage, with priority in settlement of claims postulated to the earlier mortgage. In

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9. Debt Consolidation - savingandinvesting.com

Some of the principles behind consolidating your liable explained. ... saving and investing ... extenuatory investing savings investment compounding book ...

second mortgage if I have the first mortgage holder, | Mortgage ...

by refinancing


I am at liberty and can not contribute the mortgage payments. I have a prostitution on the vend, but it will not give away for the amount of the lend. I contemplation of the first mortgage holder (80%), give a certificate as opposed to of foreclosure. If the second mortgage holder (20%) are skilled to cultivate on Easy Street or be expert to connoisseur against me row as a homeowner? I fare in the status of Arkansas.

Source: second mortgage if I have the first mortgage holder, | Mortgage ...

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