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Mortgage Modification

On March 18, 2017, Posted by , in Uncategorized, With Comments Off on Mortgage Modification

Many loans can be modified, and the general process is referred to as loan modification or debt rescheduling. There may be modifications made at the discretion of the lender or investor. The lender or investor is motivated to offer better terms to the borrower because of the expectation that the borrower might be able…

Second Mortgage

On March 18, 2017, Posted by , in Uncategorized, With Comments Off on Second Mortgage

On conventional loans a 2nd Mortgage is a second lien on a property. A 2nd mortgage falls behind the 1st mortgage. When refinancing if the homeowner wants to refinance the 1st mortgage and keep the 2nd mortgage, the homeowner has to request a subordination from the 2nd lender to let…