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Expert Insights: What Is a Second Mortgage?

Expert Insights: What Is a Second Mortgage?

A second mortgage is a loan against the equity in your home. Financial institutions will generally let you borrow up to 80 percent of the appraised value of your home, minus the balance of your original mortgage. You may incur all the fees normally associated with a...
Expert Insights: What About Equity?

Expert Insights: What About Equity?

It is the cash value of your property over and above what is owed on it, including mortgages, liens, and judgments. The amount of equity almost always grows in a home over the years, but it follows along with the economic times and cycle. Generally speaking, you can...
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