ChimDiwan asked:


I want to buy a second property, but already have a mortgage on the property that I live in. I have plenty of money left over every month and want tobuy a second property. I have enough for a deposit, but does the amount that I want to borrow for the second property still depend on how much I owe on the first?

Veronica

gentletobetamedfish asked:


When I was married my husband took a second mortage on the house. We are now divorced and I was awarded the house but with both mortgages. The bank holding the note for the second mortgage will not send me a payment book because my name is not on the loan. Any advice?
I should add that I have continued to make payments adding the account number to my checks.

Jay

Rilo Kiley Rules asked:


Do you make two payments at the same time? Or does that mean that if you had a 30 year mortgage you now have a 60 year mortgage or something else.

I’m sorry if this is a lame question. I’m 17 and haven’t bought a house yet, and I’m just curious.

Tracy

Hannahbelle asked:


We have a second mortgage on our home. The interest rate varies between 7 & 8 percent. Would we be better off to take money out of an annunity (tax free) and pay this off or leave it in and draw 3% interest? Thank you.

Melanie

mrspowell45225 asked:


I pay first mortgage on time and taxes on time so how can I keep my home .

Willie

thebuffettour asked:


This happened about 2 years ago and we are now looking to sell due to job loss. If I find out there is actually a second mortgage and we are now financed over the value of the house do I have any recourse against the broker firm?

Jamie

Samantha Jones asked:


Is the house going to be foreclosed even if your mortgage is paid on time? Ist and 2nd mortgage are from the same bank.

Sara

thebuffettour asked:


Our broker from a couple years ago on a refinance said our second mortgage wasn’t an actual second mortgage but a personal line of credit, so they refinanced us for the full value of the house. They did not contact the second mortgage company about this and never got them to agree to be the second mortgage to the first company’s refinance.
How do I find out if the second mortgage IS a second mortgage and isn’t the broker supposed to make sure everything is legit?

Lynn

Natazha T asked:


Ok my friend owes 80,000 dollars left on his first mortgage and has bills up to 40,000 .Good credit pays on time but he wants to take a second mortgage of around 125,000 pay the same house and the bills and have one mortgage .Pay more Yes and maybe financed for another 15 years ok but how do we do that .Can you even do that?And if you can what do you do?

Gail

tonioah asked:


Would this transaction constitute a taxable distribution from the IRA and/ or may I continue to deduct the interest paid on the second mortgage as an itemized deduction.

Andre