The use of second mortgages by clients is more common then one would think. The common issue amongst my clients is what would the lender think and how would I qualify.Income qualification is secondary to the LTV (Loan to Value) calculation on the property. The impact of the LTV is discussed in a future article [...]
Posts Tagged ‘Mortgage Loan’
Second Mortgage Loans in Canada – How I Qualified and Saved My Credit
Posted by admin on December 5th, 2009
Posted in Article 
Tags: Bad Luck, Borrowers, Income Qualification, Income Sources, Level Of Detail, Loans In Canada, Ltv, Minimal Requirements, Mortgage Canada, Mortgage Lenders, Mortgage Loan, Mortgage Payment, Personal Budgets, Private Lender, Private Lenders, Second Mortgage Loans, Second Mortgages, Social Services, Tax Man, What The Heck 
No Comments »What Is A Second Mortgage?
Posted by admin on December 4th, 2009
A second mortgage is a loan that is secured by the equity in your home. When you obtain a second mortgage loan the lender will place a lien on your house. This lien will be recorded in 2nd position after your primary or 1st mortgage lender’s lien, hence the term second mortgage.A second mortgage is [...]
Posted in Article Tags: 1st Mortgage, 2nd Mortgage Loans, College Education, Fixed Rate Loan, Home Equity Loan, Home Improvements, Interest Rates, Kids College, Loan Lenders, Loan Proceeds, Loan Program, Loans To Consolidate Debt, Mortgage Interest, Mortgage Lender, Mortgage Lenders, Mortgage Loan, Personal Situation, Second Mortgage Loans, What Is A Second Mortgage, Worthwhile Purpose No Comments »Bad Credit Second Mortgage Loan: A Good Answer to all Your Financial Demands
Posted by admin on November 28th, 2009
Bad credit second mortgage loan is like exchanging your first mortgage for a new mortgage. But, the question may arise in your mind why you should go for remortgage while continuing your first mortgage? The basic and primary reason is to save money i.e., getting mortgage at low rate of interest. Bad credit second mortgage [...]
Posted in Article Tags: Bad Credit Mortgage, Choice Co, Competitive Interest Rate, Debt Consolidation, Financial Crunch, Financial Demands, First Mortgage, Good Answer, Hassles, Home Improvements, Loan Approval, Mortgage Choice, Mortgage Loan, Mortgage Refinancing, New Mortgage, Owning A Home, Rate Of Interest, Remortgage, S Education, Second Mortgage No Comments »