Is it possible to get refinancing on a second mortgage, and pay it and refinance my first mortgage?

Asked by rvmtexasx70

1 Answer

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Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
Hi,

Perhaps, I'm not understanding the question. At first glance, the logical thought that comes to mind is why not just pay off the first mortgage. Then, pay yourself the payments instead of getting a 2nd?

Debt financing that creates more debt financing generally does not end well for the one incurring the debt. Rather than go down this rabbit hole, please elaborate on your needs and your thought process on solutions for those needs. Keep in mind that many lenders can also consider Equity financing when you have a proposal that brings adequate value.

Feel free to contact us directly to discuss your situation in greater detail. No obligation.

It's not what you make, It's what you keep that determines your lifestyle
| 04.04.16 @ 18:56
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$commenter.renderDisplayableName() — {comment} | 12.07.16 @ 14:33
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