With the Fed chairman continuing to raise interest rates, the refinance boom for first mortgages may be over. Over the past 3 years, millions of homeowners were lucky enough to lock into a thirty year fixed rate mortgage at 5.5%. With the market changing and rates climbing, it’s time to consider a second mortgage to … Read more
With the refinancing boom officially over, second mortgage loans are cooler than ever. Many homeowners have been blessed with low interest rate first mortgage loans that they want to keep. The need for cash didn’t disappear with the refinancing boom, so second mortgages and home equity loans will be the loans of choice for the … Read more
New York law provides that judgments, as well as first and second mortgages, serve as liens against real property. This means that once a judgment is filed against a customer, it acts as a lien against their real estate, along with a mortgage or home equity line of credit (“HELOC”) lien on the real estate. … Read more