In what may be an indicator of better times ahead in the second mortgage loan industry, the rate for a 30-year fixed-rate mortgage fell to 6.33%, the lowest it has been in six weeks. The rates on 15-yar fixed rate mortgages fell to 5.99% from 6.08%. Even the rates for Adjustable Rate Mortgages dropped to 5.765. All this could translate to good news... Read More

The answer here is not a simple one. Even though second mortgage rates are very... Read More

If you've applied for a second mortgage loan recently, you may have been in for a rude shock because, just like the rates for primary mortgages and any other type of credit, second mortgage rates have been going nowhere but up. What's driving the rise in the second mortgage home equity loan rate in part is the record number of mortgage defaults as... Read More

A second mortgage loan can be a blessing, or a second mortgage loan can be a curse. It's a form of paradox actually. It first looks like it's something good, but it can really be something bad as well. However, this paradoxical relationship doesn't mean you shouldn't get a second mortgage. It simply means that you'd better know what you're getting... Read More

What is the difference between refinancing and getting a second mortgage? I believe the difference between the two can be seen in what purpose are you seeking a second mortgage? If you are mainly trying to get cash out then obviously you would choose a refinance second mortgage. The only disadvantage to this is that there are the closing costs for... Read More