tommyfourth asked:


100% loan, 80% first, 20% second. The home is worth about what the 80% loan is.

Who takes the cut on a short sale? Second lien holder, first? both?

Manuel

in the big biz asked:


I am interested in taking out a second mortgage. I don’t really want it for thirty years . Can I get it for 30 anyways and pay it off early without penalties. I only need like 35000.

Crystal

ys m asked:


I filed bankruptcy last June . Can they still make me pay on that second mortgage?

Marc

johnsgirl3006 asked:


My first mortgage was foreclosed on but the second continues to hound me (6 years later). They keep refiling every six months to keep themselves on my credit report. How long can they do that? I thought that they could only be on the report for 7 years total.

Annie

YoungGirl asked:


I have two loans- 441,000.00 and 77,000.00. House is only worth about 520,000.00. I need to get out of it asap. Can I offer the lender of the second mortgage some money to get out of it before I do a short sale on the first? I was thinking about $1000 to $5000. Thanks! I need all the answers I can get.
I owe 520k, it may only sell for that amount if I’m lucky, definitely not more. Can I please have people with experience in this answer the question. I’ve read that in some short sales, the second mortgagee gets zero.

Cynthia

sws asked:


Second mortgage on a second house, not a refi of the first. Thanks!

Donald

Leah asked:


I’m looking into selling my house. A couple of years ago, I took out a home equity loan to cover unexpected expenses. Can I pay off the mortgage loan, but still make payments on the home equity loan for the remainder of it’s term? I don’t think I will be able to sell the house for the combined payoff of both loans.

Joan

tristenvo2000 asked:


I would like to know if there is a company who will refinance second mortgage after the house being purchased a month. If they do it will they do the price up the appraisal instead the price of the last month purchased. I like to do stated income and stated asset program.

Miguel

mizz_cassie_cass asked:


I have a mortgage on my home right now but we want to relocate and buy a home for the around the same price. We have had our home for 4 years and never had a late payment. We do have less then perfect credit. How do we go about this? Would it be better to rent? sell?? And how easy would it to be approved for a second mortgage or a new mortgage??

Jessie

NorthCarolinaNow asked:


We bought a house last year with two mortgages. Because we only put down 10% for the loan, having the second mortgage of 10% of the loan, this way we don’t have to pay for the insurance. This second mortgage has an interest rate of 9.75% while our other mortgage is at 6%. We want to refinance this second mortgage to a lower rate. Can we do that? Is there anything that preventing us from refinance just this second mortgage? There is no early payment (repayment) penalty on both of our mortgages. Thank you very much for your help.

Mathew