Posts tagged as:

subordination

May 23, 2008

Second Mortgage

Second Mortgage vs. Cash-out Refinancing HEL & HELOC A second mortgage is another (secondary and subordinate to the existing first mortgage) loan that you take out using your home’s equity as collateral. It provides you with cash, but it deprives you of the owned by the time part of your home, partially or completely. You [...]

April 17, 2008

Refinancing (Part II)

 Why do people refinance? All for different reasons, of course, but the most common ones are: To obtain a lower interest rate, To build the equity of their property faster, To change the type of their loan, To take advantage of an improved credit rating, To get some cash out of the equity already built [...]