Getting a second mortgage can sometimes help relieve some pressure from homeowners when they are strapped for money every month, or the bills start to add up. But second mortgages are more common when buyers have trouble securing all the financing they need on a first mortgage.
Usually this occurs when a lender only approves partial financing on a home, and the buyer then has to secure a second mortgage in order to come up with the rest of the financing. Some purchases of real estate fall apart because home owners can’t get a second mortgage. This is why it’s important to understand how to get a second mortgage.
Watch this episode with mortgage agent Ewa Zaba of Centum Way2Save where Ewa explains everything you need to know about second mortgages.
For more information on financing, or if you need a mortgage agent, contact Ewa Zaba of Centum Way2Save
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