Archive for '2nd Mortgages'
Shared equity loans don’t seem like a good deal to me
Kenneth Harney wrote this article on the Washington Post regarding shared equity loans (I’m not even clear if this is the correct name for this).
From the sounds of it the loan would work kind of like a reverse mortgage where the lender would make a loan collateralized by equity in a home. But instead of [...]
Posted: September 12th, 2008 under 2nd Mortgages, Debt, General Mortgage Info., Mortgage Programs, Personal Finance.
Tags: 2nd mortgage, home equity loan, home equity mortgage, shared equity loan
Comments: none
2nd mortgage options
What is a 2nd mortgage/ home equity loan?
A 2nd mortgage is a loan that is originated and subordinated behind a first mortgage. 2nd mortgages are also referred to as home equity loans, junior liens, or combination loans. These loans can take on various forms. The two most popular 2nd mortgages are the Home Equity Line [...]
Posted: July 7th, 2008 under 2nd Mortgages, General Mortgage Info..
Tags: 2nd mortgage, home equity loan
Comments: none
What is a Home Equity Line of Credit (HELOC)?
A HELOC is a line of credit much like a credit card that is secured against the equity in a home. These are most often originated after a person has owned a home but can also be originated as a part of a purchase transaction.
HELOCʼs have extremely flexible terms and is an excellent financial tool [...]
Posted: May 19th, 2008 under 2nd Mortgages, ARM's, General Mortgage Info., Mortgage Programs, Personal Finance.
Tags: HELOC, home equity line of credit
Comments: none