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2. What is a second mortgage, and how does it work? - AOL

   www.aol.com/finance/second-mortgage-does...

   A second mortgage is a home-secured loan taken out while the original, or first, mortgage is still being repaid. ... such as paying off a big debt or paying for one large single expense, like a ...

3. Second mortgage - Wikipedia

   en.wikipedia.org/wiki/Second_mortgage

   Second mortgage interest rate payments are also tax deductible given certain conditions are met. [35] This advantage of second mortgages reduces the borrower's taxable income by the value of the interest expense. [36] In general, total monthly repayments on the second mortgage are lower than that of the first mortgage.

4. What are the pros and cons of home equity loans? A ... - AOL

   www.aol.com/finance/pros-cons-home-equity-loans...

   A home equity loan is a type of second mortgage that allows you to obtain a fixed ... The lender will charge you a nominal ... A cash-out refinance pays off your existing mortgage and replaces it ...

5. How to refinance when you have a second mortgage - AOL

   www.aol.com/finance/refinance-second-mortgage...

   The second mortgage lender, if they want to go along, typically charges a few hundred dollars to review the package, and approval can take up to six weeks. Options when resubordination is denied

6. Remortgage - Wikipedia

   en.wikipedia.org/wiki/Remortgage

   A remortgage (known as refinancing in the United States) is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. [1] The term is mainly used commercially in the United Kingdom, though what it describes is not unique to any one country.

7. Bank walkaway - Wikipedia

   en.wikipedia.org/wiki/Bank_walkaway

   The GAO found that in the period January 2008 to March 2010, mortgage servicers charged off 46,000 properties, with 60 percent of the charge-offs occurring before an initial foreclosure filing was made. In this period, Detroit, Michigan had the highest number of bank walkaways, with Chicago, Illinois being second.