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What about a second mortgage?
Posted By Freelance On December 10, 2007 @ 3:02 PM In Consumer News and Advice,Financing a Home,Home Buying 101,Home Owner News,Homeowner's Toolkit | Comments Disabled
It is a loan against the equity in your home. Financial institutions will generally let you borrow up to 80 percent of the appraised value of your home, minus the balance on your original mortgage.
You may incur all the fees normally associated with a mortgage, including closing costs, title insurance and processing fees.
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