What is a second mortgage and how can an owner and a bank or private investor benefit from it?

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Jron asked:


What situation would an owner use a second mortgage. How does the bank and the owner benefit from it?

Mitchell Fishing Rods
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    • This entry was posted on Tuesday, February 9th, 2010 at 5:20 am and is filed under mortgages. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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    No Responses to “What is a second mortgage and how can an owner and a bank or private investor benefit from it?”

    1. brotherlove@sbcglobal.net Says:
      February 10th, 2010 at 3:35 am

      The loan to make home improvements or meet other financial needs lenders can give them low interest loan against the first mortgage is when an owner has enough equity market value of home improvements or meet other financial needs lenders can give them low interest.

    2. azohawk Says:
      February 12th, 2010 at 9:38 pm

      The owner benefits because it is needed.