We are in need of a 2nd mortgage on our house! Can anyone Help?

June 24th, 2008 | by admin |
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
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    1. 3 Responses to “We are in need of a 2nd mortgage on our house! Can anyone Help?”

    2. By David Beasley on Jun 27, 2008 | Reply

      2nd loans (HELOC) require qualifying with paystubs/W-2s and lots and lots of equity.

      Is your house worth A LOT more than your mortgage balance? If so, get with your personal banker (they are better at this than a mortgage broker) with your financials.

      Best of luck!

    3. By kemperk on Jun 29, 2008 | Reply

      contact any mortgage broker in your country.

      IF you find none, I will help you.

    4. By Jennifer S on Jun 30, 2008 | Reply

      Your home has to be worth more money then you owe on it.

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