Loans Information


Second Mortgage Loans


A second mortgage is a loan that is secured by the equity in your home. When you obtain a second mortgage loan the lender will place a lien on your house. This lien will be recorded in 2nd position after your primary or 1st mortgage lender's lien, hence the term second mortgage.

A second mortgage is also sometimes referred to as a home equity loan. There is no difference between a home equity loan and a second mortgage. These are just two different terms for the same subject.

A second mortgage can either be a fixed-rate loan or an adjustable-rate credit line. Interest rates and loan program terms will vary from lender to lender so it is important to shop around and compare before committing to any one offer.

Loan proceeds from a second mortgage loan can be used for just about anything. Many consumers take out 2nd mortgage loans to consolidate debt, do home improvements or pay for their kids college education. Whatever you decide to do with your loan proceeds it is important to remember that if you default on your payment you can lose your home so you will want to make sure that you are taking the loan out for a worthwhile purpose.

Another plus of a second mortgage loan is that the interest you pay back on the loan may be tax deductible. Consult your tax advisor regarding your personal situation but in most cases the interest is 100% fully deductible as long as the combined loan to value of your 1st and 2nd mortgage do not exceed the value of your home.

For more information on second mortgage loans, or to compare rates and programs of second mortgage loan lenders visit http://www.equityloansource.com

Levetta Rivera is a successful author and publisher of http://www.equityloansource.com . An informational and resource site for home equity loans.


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Harvard Business Review

How We Help Employees Pay Down Student Loans and Save for Retirement at the Same Time
Harvard Business Review
A small percentage of U.S. companies — including PwC, Fidelity, and Aetna — have stepped up to help their employees cope with the education loans weighing them down by offering them cash to help them reduce their debts. While I applaud them, one ...



Forbes

How The Midterm Elections May Affect Your Student Loans
Forbes
Under several student loan forgiveness plans offered through the federal government, ranging from public service loan forgiveness to income-driven repayment plans, eligible borrowers could have their remaining student loans effectively paid by the ...

and more »


Denver Business Journal

Banks could replace payday loans following Colorado's overwhelming vote to cap interest rates
Denver Business Journal
Last week, Colorado residents overwhelmingly voted for Proposition 111, which dramatically limits the annual interest rate on payday loans, among another fee limitations. The vote “may eliminate the payday lending business in Colorado” when it goes ...

and more »


Washington Post

Betsy DeVos should be forced to cancel loans for students at closed campuses, lawsuit says
Washington Post
A lawsuit filed Tuesday against Education Secretary Betsy DeVos asserts that the Education Department — as required by an Obama-era regulation — is failing to cancel student loans for borrowers whose schools closed before students could earn their ...

and more »


Alexander Hamilton descendant loans heirlooms to museum
WIS10
"These items give us a glimpse into the personal lives of Alexander and Elizabeth Hamilton and we're honored and delighted that Doug and his family have chosen to loan them to us," said Philip Mead, the museum's chief historian and director of ...



Washington Examiner

The leveraged loan bubble that might burst
Washington Examiner
Covenant-lite (cov-lite, for short) loans have come to dominate the leveraged loan market since the end of the Great Recession, an economic catastrophe the financial world has seemed to have learned nothing from. To recap the Great Recession in ...



Nasdaq

UPDATE 3-China Oct loan data disappoints, points to further slowing in economy
Kitco News
Analysts polled by Reuters had predicted new loans of 862 billion yuan in October, down from 1.38 trillion yuan in September but well ahead of seasonal norms as lenders began to heed regulators' calls to support smaller firms hit by the economic ...
China Oct loan data disappoints, points to further slowing in economyNasdaq
China's new yuan loans decline in OctoberXinhua

all 76 news articles »


American Banker

Blockchain slashes approval time on syndicated loans, BBVA says
American Banker
BBVA says it recently completed the first-ever syndicated loan on a distributed ledger. Could this pilot offer a glimpse of the syndicated loan of the future? The borrower, Red Electrica, is a power distribution company based in Spain. The company ...

and more »


WSB Radio

Who tells his story: Alexander Hamilton's 5th great-grandson loans heirlooms to museum
WSB Radio
He may have died in a dual 200 years ago, but Alexander Hamilton, the 10-dollar founding father, is more popular than ever. Now his fifth great-grandson is not missing his shot to shine a light on his relative's history and is loaning a handful of ...
Alexander Hamilton's fifth great-grandson, Doug, says the duel 'was just idiotic'Philly.com
Alexander Hamilton descendant loans heirlooms to museum - AP NewsAP News
Hamilton Was Here | Museum of the American RevolutionMuseum of the American Revolution

all 37 news articles »


Majority of Veterans Eligible for Loan Forgiveness Are in Default
Inside Higher Ed
Borrowers enter default on their student loans when they go more than 270 days without making a payment. That can have serious repercussions, including a hit to the borrower's credit score, wage garnishment and the inability to access other federal ...


Google News

home | site map
© 2007