Reverse Mortgage » Second Mortgage

When selling a home, is a home equity credit line treated as a second mortgage or is a line a credit ?

Admin — Sat, 26 Dec 2009 10:16:55 +0000

ben c asked:

Can I sell a home with just a 1st mortgage, collect the equity and continue to pay on my Heloc as if it is a line of credit? or will I have to include it in my home sale (and possibly a short sale)?

What is the best monies to get from a refinance, equity loan or a second mortgage loan? Why?

Admin — Fri, 13 Nov 2009 05:27:57 +0000

nbmama2 asked:

We are looking to borrow money from several financial institutes and don’t know which is the best way to go.

what is the potential impact on my personally if a bank puts a lien on my commercial property?

Admin — Fri, 10 Jul 2009 22:32:05 +0000

openminded83 asked:

I have been paying deligently every month on my line of credit and now the bank is considering not renewing my loan. They hold the second mortgage on the commercial property and another bank holds the primary loan. What is the worst case situation the bank can force upon us??? Can they garnish my wages, credit, selling the property, etc? Help…someone. Thanks

where can i take out a second mortgage? with bad credit?

Admin — Sun, 07 Jun 2009 20:06:16 +0000

mlscsp2 asked:

we have a lot of debt and would like to take out a secound mortgage. Where could I look with somewhat bad creidt? I know dont say get ur spending under control becouse we have and have cut them all up but still need to pay off.. so where could I look?

Does anyone know about second mortgages with balloom payments wokrs?

Admin — Sat, 21 Mar 2009 16:49:18 +0000

cabimasheat asked:

I was offer a interest rate of 6.87 for 15 years in 89000.00 with a payment base in 30 years with a balloom payment of 66000.00 in the end of the 15th year. I want to know if I can refinance in few years the second mortgage and get out of the balloom payment.
Now I am traing to consolidate a second mortgage and a line of credit, wichone I only paying interes, nothing agains the credit line

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If your first mortgage takes a deed in lieu, what happens to the second mortgage?

Admin — Fri, 27 Feb 2009 16:30:53 +0000

my brain hurts asked:

Do the 2 companies duke it out? Or does the former homeowner have to strike a deal with the company that held the second mortgage?

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I have 2 mortgages and a second mortgage on my unsold house what are my options to transfer my second mortgage

Admin — Sun, 22 Feb 2009 20:06:00 +0000

Kimi asked:

I need to transfer my second mortgage to my new home so I can lower my asking price for my unsold home. I am currently paying 2 mortgages and a second mortgage. Is there a way to transfer my second mortgage to my new home? I have only lived in my new home for 4 months and finances are getting tight. The equity is low to none in the new home.

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What happens to the second mortgage when the first mortgage forecloses?

Admin — Sat, 14 Feb 2009 15:30:12 +0000

Painted Jezebel asked:

I am going through a foreclosure on my first mortgage, what are my options with dealing with the second mortgage? Any legitimate websites with guides for dealing with the aftermath of foreclosure would also be appreciated.

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If a house is in forclosure and their is a first and a second mortgage and back taxes?

Admin — Tue, 10 Feb 2009 15:14:59 +0000

Chris L asked:

If a foreclosure has a first and second mortgage and back taxes does the new owner have to pay the second and back taxes to accuire(own) the property?

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Need Advice: What happens to the second mortgage after the home is foreclosed. Does the 2nd mortgage disappear

Admin — Sat, 07 Feb 2009 08:26:38 +0000

alvin asked:

Unfortunately my home was foreclosed and I tought, the 1st and 2nd mortgage disappears and the procces will ended. But suddenly I started receiving calls from the bank lender of the 2nd mortgage. They said I still owed them even if the home was foreclosed and if I didn’t pay them, they will reported to the IRS, so they can charge it off on my paycheck. It’s that true. Need some advice. Thank You!!

(I had a 80/20 loan with two different bank lenders)
Oceanside, California

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