Dee asked:


My 2nd mortgage that they do not have the power to lower my interest rate because they are not in 1st lien position. Is this true or they are blowing smoke?

Linda

Michael L asked:


Multi unit property has a recorded 2nd mortgage of 22k on it from a private individual. If the property gets foreclosed on, will I still be required to satisfy it? What is the lender accepts a short sale? WIll I be required to pay the 2nd mortgage then?

Julio

Arturo Amante asked:


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?

Mathew

Futeach asked:


I’m in Nevada, and I have a equity line loan on my house. Can I write the interest off on my taxes?

Shannon

TAMMY O asked:


Our 2nd mortgage company is suing us for $25,000 (the balance on our 2nd after they signed off the lien for the short sale). They have submitted paperwork to attach 25% of our wages until it is paid off? Is their any legal way out of this?

Sara

cooluni asked:


I am in the process of foreclosing my house along with 2 rental homes in AZ. I understand that the anti deficiency law protects my assets. However, can and will the 2nd mortgage company sue me or put a lien on my other property/asset for the deficiency? Is there anyway to protect myself?

Elsie

Laura B asked:


If you do a short sale on your property, the first mortgage gets cleared, but what happens with the second mortgage? Does the other bank still come after you for the balance?

Walter

neffykitty asked:


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?

Betty

Cherie D asked:


We need to obtain a 2nd mortgage of $25,000 on our home to basically pay of a bad loan. We went to a comapny and borrowed money and now they are charging 31.99% in interest, we’d like to clean up our 2 credit cards and pay back a loan from family, is there a reputable company in Ontario that we can trust to help us or do they all charge alot of interest?We just don’t want to get roped in again can anyone help us?

Agnes

mcoopd1 asked:


I ask this because most lender said I have to refinance my 1st in order to pay off my 2nd, but if I do that because of my low credit score my interest will go way up and it will double what I am paying now. Is there a solution?

Bernice