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6 June 2016
A piggyback loan can help you avoid paying for private mortgage insurance without having to make a 20 percent down payment.
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9 December 2015
Deciding whether to get a home equity loan? Here's a close look at the pros and cons.
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13 November 2015
A second mortgage is any loan secured by the value of your home that you have in addition to your primary mortgage.Second mortgages fall into three types: home equity loans, home equity lines of credit (HELOCs) and piggyback loans.
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8 September 2015
Taking out two mortgages on the same house simultaneously may sound like a bad idea at first glance, but "piggyback loans" are a common way to make a smaller down payment or avoid paying mortgage insurance.
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1 August 2015
If you're a first-time homebuyer, you're probably going to run into something called mortgage insurance, often referred to as PMI.Read more about PMI.
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12 December 2014
If you're a parent who's ready to send your child off to college, you may be in for a rude awakening.All those nickels, dimes and hundred dollar bills you've saved over the years may not be enough to afford today's astronomical college tuitions.
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29 September 2014
Your home equity loan or home equity line of credit could dash your dreams of reducing your monthly mortgage payment through a refinance.Blame a complicated mortgage-lending quirk known as resubordination.
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22 July 2014
Think you need a large down payment to buy a home? Guess again.According to Freddie Mac, four out of 10 current homebuyers are making down payments of less than 10 percent.
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22 May 2014
Jumbo loan rates are very close to conforming loan rates in many markets, making bigger, more expensive homes more affordable while allowing buyers to stay within their budget.
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29 May 2013
Homeowners who are looking for a short-term infusion of money might consider an interest-only second mortgage in the form of a home equity line of credit (HELOC).
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2 March 2013
Need a jumbo mortgage but you don't want to pay a jumbo mortgage rate? You might consider a piggyback loan.
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29 January 2011
There are many reasons to renovate your home.Here are a few ways to finance the project.Home renovation is an excellent way to breathe new life into your aging surroundings.
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30 September 2010
Everyone loves to hate income taxes.So one aspect of the U.S.tax code that's enormously popular is the mortgage interest deduction, which provides sizeable tax breaks on first and second mortgages.
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14 September 2010
Second mortgages have been accused of playing the role of bad boy in the mortgage crisis.Many borrowers, who wanted to buy homes with no money down, were piggybacking second mortgages on top of first ones.
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1 September 2010
Being late is good for making dramatic entrances at cocktail parties, but the advantages stop there.Arrive late to work and you could get fired.And if you slip behind on your second mortgage payments, you risk losing your home.
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29 July 2010
Motivational speaker Zig Ziglar once said, "Failure is a detour, not a dead-end street." Remember those words if your lender doesn't approve your mortgage loan.With a little creativity and a motivated seller, you can still buy that dream home.
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3 July 2010
For potential first-time homebuyers, affordability can be a big challenge.In addition to coming up with a down payment and money for closing costs, even being able to afford the monthly payments on a decent home can be a major obstacle.
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23 June 2010
Mortgage rates are way down again - and refinancing is up.If you missed out on last year's ultra-low rates, are your chances any better of refinancing this time around?.
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8 March 2010
The influential chair of the House Financial Services Committee is ratcheting up the pressure on lenders to write off nearly worthless second liens to clear the way for loan modifications to help homeowners avoid foreclosure.
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10 November 2009
Many of the people who are in serious financial difficulty with their home loans have both a first and second mortgage.Faced with foreclosure and perhaps even bankruptcy, some may wonder "what if I just stop paying the second mortgage? What's the worst they can do?".
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