Second Mortgage Misery


According to the Wall Street Journal nearly 40% of homeowners who cashed out on the equity in their homes by
taking out a second mortgage are now underwater on their homes. That is, between their first mortgage and their second mortgage, they owe more than what their home is currently worth. For those who want to sell, it becomes a greater challenge to obtain short sale approval due where there is a second lender involved.Read more


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