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| Question about :
2nd_Mortgage |
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What happens if I stop paying my 2nd mortgage, but continue to pay my first?
I can not pay my 2nd mortgage, what can the 2nd lending company do it I stop paying, but contiue to pay the 1st. mortgage?
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| By
Taijens L |
Posted
on
02/18/09 Total Answers
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Do you figure mortgage payments for a 2nd mortgage the same as for a 1st mortgage?
We're about to close on a house and we have a 1st mortgage, and then a 2nd to pay some of the down payment. This avoids PMI.
If I plug the numbers into a mortgage payment calculator, the 1st mortgage payment is the same as the one on the TIL the lender provided. But the 2nd payment isn't - the calculators all say it's less than what the lender is saying.
Is there a different mortgage payment calculator for a 2nd?
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| By
neffykitty |
Posted
on
12/06/07 Total Answers
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Is it better to roll-in your closing costs or get a 2nd mortgage to cover them?
We just closed on our townhome this past Friday. We ended up with less money than we had hoped for because the closing costs were so high. We're due to close on our new single family home August 10th and those closing costs are going to be higher than we planned for too! Anyway, we're going to be about $4,000 short on closing costs for the new house. Is it better to roll it in to the mortgage or get a 2nd mortgage on top of the first? Not sure how this works. Thanks.
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| By
Cookie On My Mind |
Posted
on
07/30/07 Total Answers
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When to refinance and what to do with 2nd mortgage?
Bought home in October of 2006.Bought it with no money down. Did 80/20 Loan: 1st Loan 7.125% 2nd 10.5%. Interest only 5/ARM. Price was $584000 In the Los Angeles area.
Bought Home below market value, houses around my area are selling for $650K and up.How soon can I refinance to a fixed rate and what can I do about the 2nd mortgage in order to avoid getting a Jumbo Loan rate and having to pay PMI?
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| By
Mak |
Posted
on
12/17/06 Total Answers
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How my credit will be affected & the possibility of keeping my home should I default on my 2nd mortgage?
I have a 1st & 2nd. Both mortgages are current- now. I am upside down in my property. Both loans are re-setting 9/08. Since I have no equity, what is the likelihood the 2nd will foreclose? If they decide not to foreclose can I still stay in the home & keep making the 1st mortgage payments ? How is this reported to the credit reporting agencies? For how long?
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| By
LISAW |
Posted
on
02/26/08 Total Answers
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What are my options as 2nd Mortgage holder when delinquent?
In Florida, I hold a 2nd mortgage for an individual who is 2 months behind in payments. What are my options regarding Liens?
Can I attach other property or does it have to be the property to which the mortgage pertains?
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| By
Greg A |
Posted
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12/14/06 Total Answers
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Can a default on a 2nd mortgage cause the the 1st to go into foreclosure if payments are current on the 1st?
I have 2 mortgages and was wondering what happens if one goes into default, can the mortgage in default cause foreclosure on both the 2nd and 1st mortgage?
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| By
parasite414 |
Posted
on
12/02/07 Total Answers
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How does a seller held 2nd mortgage work?
The seller of the house that I want to buy says that he will do a seller held 2nd mortgage. How does that work?
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| By
happygirl |
Posted
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09/30/06 Total Answers
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If i am unable to pay my 1st and 2nd mortgage, can the bank freeze my checking/savings accounts?
I received my 2nd mortgage through the bank that i have my checking account with.
I am in Florida.
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| By
Sheri |
Posted
on
02/01/09 Total Answers
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How do I get a loan by taking out a 2nd mortgage on my home?
I need a loan, so I have decided to take out a 2nd mortgage on my home.. How does that work? and how long does it take to get the funds? I have never does this before..
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| By
PopLady |
Posted
on
06/20/09 Total Answers
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Can I get foreclose if I miss my payment on my 2nd mortgage ?
I have been making my 1st mortgage payment, my income is not the same. I could only afford to pay my 1st mortgage payment, can they foreclose if I don't pay my 2nd mortgage?
I have contacted the bank for my 2nd mortgage that I'm not able to pay and apparently they don't care, they want payment as soon as possible.
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| By
Jewel |
Posted
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12/12/08 Total Answers
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Do I have to file Chapter 13 if my 2nd mortgage has been charged off?
Home value is well below 1st mortgage and we have no plans to move. 1st mortgage is current but due to job loss could not keep up 2nd. What happens if I don't file Chapter 13?
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| By
midwest73 |
Posted
on
10/23/09 Total Answers
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Need Advice: What happens to the second mortgage after the home is foreclosed. Does the 2nd mortgage disappear
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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| By
alvin |
Posted
on
12/08/07 Total Answers
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can an overdue 2nd mortgage put home in default if 1st mortgage is timely?
if 1st mortgage is paid on time and has not defaulted but 2nd mortgage is behind, can 2nd mortgage cause house to default?
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| By
ownbiz |
Posted
on
03/28/09 Total Answers
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What are the current rates for a 2nd mortgage.?
Also where can I go to find this information without having to fill out a online loan application?
My house is worth $600000, I have $120000 in equity, I want to take out a 2nd mortgage for $55,000. I'd like to know the rates currently February 15, 2007.
Thanks
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| By
tenped |
Posted
on
02/15/07 Total Answers
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How long do we have to wait to take out a 2nd mortgage?
We are wanting to do debt consolidation. We just made our first house payment. It was a Fannie Mae foreclosure which we purchased thru a loan with the USDA. We paid $58,000 the house appraises for $72,500. How long do we have to wait to get a 2nd mortgage and how much could we get? Any help would be great ...thanks
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| By
tonna_lynn_76 |
Posted
on
07/15/09 Total Answers
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Is a silent 2nd mortgage included when determining the equity in a home?
I bought my home with a silent 2nd mortgage and I need to know how much equity I have in my home. Should I determine the equity with the 2nd mortgage added to the price?
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| By
Arturo Amante |
Posted
on
06/22/07 Total Answers
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Paying off my 2nd mortgage with a credit card balance transfere?
Hi - I bought my house 2 years ago with 100% financing, I did a 80/20 loan. Both loans are fixed the first at 6.5% and the 2nd at 9%. I got a statement in the mail from my credit card company (chase) stating I can do a balance transferee at 2.99% until the loan balance is paid off. So would it be a good idea to transfer my 2nd mortgage onto the credit card?
Thanks
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| By
David H |
Posted
on
12/15/08 Total Answers
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Is it possible to refinance a 2nd mortgage, and not touch the 1st?
I have a great fixed rate on my first mortgage 4 3/4%, however I am paying about 11% on my second. Are there any companies out there that will refinance only the 2nd? And how does equity come into play with this, the CA housing market is not that great! Not looking for cash out, just a lower monthly payment. If anyone knows a company that might work with us, please let me know. Thanks,
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| By
Christine L |
Posted
on
07/30/08 Total Answers
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After foreclosure can the 2nd mortgage holder come after me for the balance in Colorado?
I had a property go to foreclosure in Colorado with 1st and 2nd mortgages. The 2nd is now trying to settle and has been calling and mailing me for the past 8 months. Can they collect? Should I settle or should I just pay an attorney to make them go away. They are out almost $80k and I didn't file bankruptcy.
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| By
CO4closure |
Posted
on
08/22/08 Total Answers
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Refinancing if your late 3 months on your 2nd mortgage?
Hello,
Are there any mortgage companies that will do a refi if your late 3 months on your 2nd mortgage? Thank you for your time.
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| By
ChgoLake |
Posted
on
12/08/07 Total Answers
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Should I pay more then just interest on a 2nd mortgage?
My husband and I owe about $98K on our house. Before we got married, he took a $40K second mortgage on the house to pay for graduate school. We are only paying the interest on the 2nd mortgage, at about $350 a month. We are planning to sell in two years and we'll list the house for about $170K. My question is, do we continue paying just the interest on the 2nd mortagage and pay it off when we sell, or should we start making larger payments off the balance? Any help you can give is greatly appreciated!!!
We put a decent amount into savings a month, and retirement each year. I've been going back and forth over paying more towards the balance of the 2nd, or paying more towards credit cards that have a low interest rate.
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| By
merk |
Posted
on
03/27/06 Total Answers
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Should I take out a 2nd mortgage or home equity loan to pay off credit cards?
I'm going to be putting my house on the market soon. Should I pay off the cards now or wait til I sell the house? I expect to make enough to pay off mortgage AND outstanding cards but would like to pay cards sooner.
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| By
mrfixit6549 |
Posted
on
09/26/09 Total Answers
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Can you use a 2nd mortgage to remove PMI on a pre-existing first mortgage?
I have read that a lender must automatically remove PMI once your LTV is 78% of the original amount financed. I have a single loan, and I bought the property well below market value. Since my loan is not 2 years old the lender will not remove PMI with a simple apprasial. Is the lender required to remove PMI if I use a 2nd on the property to pay down on the first to get below the 78%.
To add a little more detail. I bought this house prior to selling my old one. Now that my old one is sold I find I am a few percentage points away from achieving the 78%
I'm not so sure the bank has a real say once I get to 78% from the original finance amount. The Homeowners protection act(1998) seems to indicate that they have to remove it by law.
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| By
Chris I |
Posted
on
08/30/07 Total Answers
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Is it better to pay off credit card debt or a 2nd mortgage first?
For example sake, say a person has $10,000 to either:
1) pay off a $10,000 balance on a 6% credit card
or
2) pay $10,000 down on a 7% variable rate 2nd mortgage with a $30,000 balance.
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| By
Andy |
Posted
on
02/06/10 Total Answers
7 |
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| Question about :
2nd_Mortgage |
Page : 1 2 |
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