second mortgages

[sweet_caligirl]

What is the name of your state? ca..How does a second mortgage work? Is this a good idea. Do you have to take it with the same company your mortgage is with currently and would you pay two seperate payments for each one?

 

[HomeGuru]

What is the name of your state? ca..How does a second mortgage work?

**A: do a search, talk to a mortgage broker or banker, talk to a real estate agent.......

Is this a good idea.

**A: it depends. If you are pulling money out for a vacation cruise or to pay for your child's college education or sick mother in a nursing home.
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Do you have to take it with the same company your mortgage is with currently and would you pay two seperate payments for each one?

**A: no and yes.