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Latest Articles
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Fixed Rate Second Mortgages
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By Steve Valentino
Fixed rate second mortgages can be extremely beneficial for a borrower. This is due to the fact that they make it possible for a borrower to know the exact amount that all his future monthly payments will turn out to be. Also due to the fact that the interest rate is fixed, the payments that need to be made will not vary in case of a fixed rate second mortgage.
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Are You Planning A Second Mortgage?
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By John Gibb
Second mortgages are a huge commitment that you shouldn?t enter into lightly, as they carry many risks. It pays to know what you?re getting yourself into before you sign on that dotted line. To begin with, be careful of second mortgages that seem like they are for small amounts, but last for a very long time. A common trick is to get you to borrow a relatively small amount of money and then pay it back over 10 or 20 years at a small amount per month. Unless you add it up, you might never realise that you can end up paying back more than twice what you borrowed.
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