If you are considering a second mortgage then one of the options that should be considered is a second HELOC. A HELOC is a Home Equity Line Of Credit and works a bit different from a standard second mortgage. HELOCs offer the flexibility of being able to draw the funds you need over a designated [...]
Using a home equity line of credit (HELOC) as a second mortgage can save you the costs associated with private mortgage insurance since there is no such thing as HELOC insurance. When you are considering a loan to take on a renovation project or to maybe pay off some high interest credit cards, your options [...]