Daily Archives: February 20, 2014

Second Mortgages Back

  For those of you that have 3% first mortgages there is no way you should ever refinance those loan unless you have no other options.  Well I am happy to say that borrowers do have options as Brokers are structuring second mortgages again.  With Brokers now offering this product again the cost of these product will be reduced for borrower’s. This is a great option for borrowers is several ways, such as college tuition or unexpected expenses.  This option also allows for the 80/10/10 to return.  This will help those borrower’s in areas with low conforming and/or FHA loan limits.  Only the stronger broker shops will offer second mortgages.  You may need to call a few before you find a broker that can structure a second mortgage.

 

Stay Tuned… 

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