Posted on: 01st Oct, 2010 07:01 pm
hi,
i am having financial difficulties with my husband. he did not tell me about the 2nd mortgage he wasn't paying on like he told me he was. he was actually borrowing against it. so now we owe 53,000.00 on our 1st mortgage, and 69,000.00 on the 2nd one. i am so sick over this.
originally we took out the 2nd one because of some accumulated debt, and it was only 25,000.00. then i just found out it was 69,000.00 . the first mortgage is at 6% and the 2nd is at 3% but has been at a higher one for awhile. he just got it lowered this year. and the 1st is fixed. the 2nd is variable.
i don't know if we should put them together at a lower rate, or refinance the 2nd one to a fixed rate. can we do that? i do not like the variable rate at all. it could go to 8 , or 9 , or even higher anytime.
please help me with any knowledge you have. i am contemplating divorce over this. thank you.
i am having financial difficulties with my husband. he did not tell me about the 2nd mortgage he wasn't paying on like he told me he was. he was actually borrowing against it. so now we owe 53,000.00 on our 1st mortgage, and 69,000.00 on the 2nd one. i am so sick over this.
originally we took out the 2nd one because of some accumulated debt, and it was only 25,000.00. then i just found out it was 69,000.00 . the first mortgage is at 6% and the 2nd is at 3% but has been at a higher one for awhile. he just got it lowered this year. and the 1st is fixed. the 2nd is variable.
i don't know if we should put them together at a lower rate, or refinance the 2nd one to a fixed rate. can we do that? i do not like the variable rate at all. it could go to 8 , or 9 , or even higher anytime.
please help me with any knowledge you have. i am contemplating divorce over this. thank you.
hi jgerhardt,
welcome to mortgage fit,
as you told that your husband has recently refinanced the 2 nd loan so i don't think at this moment you could be able to do anything.at least you need to wait 8-10 months in order to take any positive (refinancing after combining both mortgages) move in this regard.
when did he refinance the second mortgage?
feel free to ask any further query if you have.....
dipa
welcome to mortgage fit,
as you told that your husband has recently refinanced the 2 nd loan so i don't think at this moment you could be able to do anything.at least you need to wait 8-10 months in order to take any positive (refinancing after combining both mortgages) move in this regard.
when did he refinance the second mortgage?
feel free to ask any further query if you have.....
dipa