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Tag Archives: Second
Can a first mortgage be refinanced to a lower rate if there is also an existing second mortgage?
Question by cookingmomma: Can a first mortgage be refinanced to a lower rate if there is also an existing second mortgage?
If a homeowner has a first mortgage and a second mortgage, and would like to refinance the first mortgage at different terms, can this be accomplished – does the existing second mortgage put a monkey-wrench in refinancing the first?
Best answer:
Answer by Tim
Normally you roll them both together. You can get better rates on a 1st than a 2nd.
Give your answer to this question below!
Posted in Uncategorized
Tagged also, existing, First, Lower, Mortgage, Rate, refinanced, Second, there
3 Comments
If i am given a second home, mortgage free, would it affect my current mortgage?
Question by : If i am given a second home, mortgage free, would it affect my current mortgage?
My partner and i own our home, and our mortgage is up for renewal in feb 2011. I have the chance of being given a second house, with no mortgage on it, i would own it out right.
Would this affect my current mortgage or tax amount? Can a house just be signed over, or does it incur extra taxes?
Best answer:
Answer by Realtoratheart
NO there is no impact to that part of your financial situation. It really is more of a positive to your net worth.
Refinance a second mortgage can be a good financial move
Article by Mortgage Guru
Owner Occupied, Second Homes and Rental Property
The Mortgage Dictionary provides a comprehensive yet simple review the differences between the three occupancy classifications for residential mortgage financing. Definitions of owner occupied (primary), secondary (vacation), and investment (non-owner occupied or rental) properties are given. If you’re asking, “is this a second home or investment?,” this video goes through the differences and how to address interest rate adjustments associated with rental property. More specifics and for mortgages in Marin County and all of California, contact Rob Spinosa at 877.270.5959 or rspinosa@rpm-mtg.com.
Video Rating: 5 / 5
Reasons for Getting Second Mortgage Bad Credit
Article by Mike Paetzold
Nowadays, a lot of homeowners believe that getting a second mortgage with bad credit can be good. Believe it or not, they are right. Below are some reasons why it may be helpful for homeowners to get a second mortgage bad credit.
One of the best reasons for homeowners like you to get a bad credit history mortgage deal is to be able to repay other debts. This is because most of these credit deals actually act as products that can be used for debt consolidation. This works because getting a this kind of credit will allow you to squeeze out a little of your existing home’s equity, which lands into your creditor’s hands once the mortgage is approved. Once this happens, you can walk away from your creditor free from all debts.
Is it possible to get a second home mortgage?
Question by nikkin: Is it possible to get a second home mortgage?
I want to rent my house out and buy a new home. Will I be able to get a mortgage on the new home?
Best answer:
Answer by Common Sense
How can anyone here know that?
What is your credit score? Downpayment? How long at your job?
Try asking a bank.
What do you think? Answer below!
Ways to Make it Easier to Get Your Second Home Mortgage
Article by SeanHorton
If you are thinking of buying a second home now, the obvious place to buy it is in the UK. With the pound falling steadily against the euro, second homes on the continent have become vastly more expensive. And with airlines being hit by the spiralling cost of fuel, having your second home in the UK makes even more sense.
What’s more, with house prices falling, this is a really good time to go for your second home. The only snag is that mortgages are harder to get. So how are you going to finance your second home?
Q&A: Does a first mortgage get paid off completely before a second mortgage gets any money?
Question by mac: Does a first mortgage get paid off completely before a second mortgage gets any money?
I hold a second mortgage on someones home and they are now in foreclosure. Will I get any of my money back? Does the first mortgage have to receive all their money first before I get any?
Best answer:
Posted in Uncategorized
Tagged Before, completely, First, gets, Money, Mortgage, paid, Second
2 Comments