Posted on: 26th May, 2011 10:09 am
i live in texas. i have a home worth 72 to 75000. i owe 1500.00 i would like a second mortgage loan for 7000.00 . who could help me?? why can't i find information on this type of loan? not part of bankruptcy.
Hi Wtxguy,
If you have equity in your home and if you satisfy all the required criteria of the lender, then you will be able to qualify for a second mortgage. You can contact your local lenders and apply for a second mortgage. This community has a large number of lenders. You can seek a no obligation free mortgage quote from them and check out whether or not they can help you in this matter.
Thanks
If you have equity in your home and if you satisfy all the required criteria of the lender, then you will be able to qualify for a second mortgage. You can contact your local lenders and apply for a second mortgage. This community has a large number of lenders. You can seek a no obligation free mortgage quote from them and check out whether or not they can help you in this matter.
Thanks
Wtxguy - If you are looking for 7K, you are better off getting a line of credit through a local bank. You will get a much better rate, and you should be able to get it done without closing costs. Call the branch you have checking or savings accounts with ,and start there. You should be able to get a HELOC at 4% or so. Good luck.
go to a bank or credit union and get a heloc. typical fees under $500
traditional mortgage would be way more expensive.
consider taking out enough to pay off first lien to have one low pmt
traditional mortgage would be way more expensive.
consider taking out enough to pay off first lien to have one low pmt
