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Mortgage Professor about 2nd mortgage versus refinance: 
Can Mortgage Refinance at a Higher Rate Make Sense?
April 8, 2002, Revised November 17, 2004 "Does it ever make sense to refinance into a mortgage carrying a higher interest rate than the mortgage you already have?" Very often it does not. Mortgage borrowers refinancing at higher rates ought to use the 72 hour ... more...

Mortgage Refinance Tutorial
Here is what you will learn in this tutorial: 1. What does "saving money" on a refinance mean? 2. Should you finance the origination costs? 3. What hazards must be avoided? 4. Determining whether or not you will save money: what is the ... more...

2nd mortgage versus refinance related definitions

Refinance
Refinance Refinancing refers to applying for a mortgage loan intended to replace an existing loan secured by the property. Homeowners usually consider refinancing for the purpose of getting a better interest rate, loan term, or to draw cash from the equity. ... more...

Wraparound Mortgage
Wraparound Mortgage Mortgage Loan which provides a buyer with the amount of the remaining balance on a seller's mortgage plus an additional amount which is requested by seller as part of the contract of sale. Payments are made to the lender who holds the wraparound loan. ... more...

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Get Free 2nd mortgage versus refinance Quotes and Estimates

Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

How and Why to Refinance Your Mortgage
Refinancing your mortgage can be a great way to reduce monthly payments, lock in a better interest rate, and gain additional time for repayment, but it should not be entered into lightly. Refinancing at the wrong time or for the wrong reason can actually result in you having a higher payment or a ... more...

Refinancing Online - Get The Best Refinance Home Loan You Can Get
When going to refinance or get a mortgage loan quote, the internet can be a useful tool to shop around for the best interest rate. The reason the internet is a good place to start applying, is because most mortgage applications online do not typically pull your credit with the first application. ... more...

Low Mortgage Rates - Rates Today Are Still Low Enough To Consider
Who doesnt want low mortgage rates? A low mortgage rate means spending on monthly payments during the course of a mortgage. A low mortgage rate can save homebuyers like you several thousands of dollars. A low mortgage rate means having more funds to spend on investments that might prove profitable ... more...

How to Get a Low Refinance Rate When Refinancing Your Home Mortgage Loan
Refinancing your mortgage has certain advantages. The key reason homeowners refinance is to obtain a lower interest rate, which will lower their monthly payments. Even so, some homeowners are hesitant to refinance. The refinance process involves creating a new mortgage loan. Moreover, the process ... more...

Mortgage Refinance
Microsoft Encarta defines 'mortgage' as 'an agreement by which somebody borrows money from a money-lending organization such as a bank or savings-and-loan association and gives that organization the right to take possession of property given as security if the loan is not repaid.'Lets take two ... more...

Bad Credit Mortgage Refinance - Should I, Shouldn't I?
It is a common financial scenario across households in the Western world. Multiple debts have started to build up: a car loan here, a department store loan there; a bank loan here and several credit cards there. While all may have seemed manageable on the optimistic day you took them out, or spent ... more...

Refinancing vs Line of Credit
Refinancing vs line of credit are two popular options you have when deciding the best way to take equity out of your home. Sometimes it makes sense to establish a line of credit. But in other situations it's better to get a cash back refinance mortgage loan.You can find out which loan is best for ... more...

Refinancing Your House Mortgage - 3 Reasons to Refinance While Rates are Low
Before mortgage interest rates begin to rise, homeowners should consider the advantages of refinancing now. Although were witnessing record low rates, these rates will not last forever. Unfortunately, many homeowners will delay refinancing and miss out on the savings. There are many reasons to ... more...

How to Avoid Paying Mortgage Insurance
In today's world, a borrower should not be paying mortgage insurance (PMI) on their home mortgage with a few exceptions such as an FHA loan. Mortgage Insurance is a thing of the past.Lets first explain what mortgage insurance is. A lender requires a borrower to pay mortgage insurance if the loan ... more...

Save Thousands on Your Home by Utilizing California Refinance
Whenever I hear the word refinance or mortgage, I start to get nervous. In California, most folks like to relax, enjoy the sun, sky and surf (or mountains if you have em) and not mess around with their hard-earned homes. But California Refinance can actually save people thousands upon thousands of ... more...

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