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July 18, 2006
125% Second Mortgage Loans for Debt Consolidation & Lower Fixed Rate
A 125% Second Mortgage is a 2nd mortgage in which the face amount of the loan exceeds the value of the property by 25%. A Property valued at $200,000 would have a loan for $250,000. This is a perfect type mortgage for individuals with little or no equity in their home. The loan offers 125% of value minus the first mortgage. This loan could be used for debt consolidation or to combine first and second mortgages where the fixed mortgage rates or the adjustable rate mortgages or a combination of the two produce a higher monthly cost then the new fixed rate on the 125% second
From 125% Second Mortgage Loans for Debt Consolidation & Lower Fixed Rate
Posted by Bob at July 18, 2006 03:26 PM
