How Do You Refinance A Second Mortgage?
If you have found that your mortgage is a little outdated and you think you can get a much better deal, then it is time to consider refinancing with a second mortgage. This can be done rather easily with many lenders wanting to give you their money. Look at your mortgage to determine if there are any penalties for paying it off early. Determine how much you would like the new mortgage to be for. This should include any amounts needed to pay off all existing debts and other high interest loans, credit card debts, and so forth. Calculate the cost of any remodeling or additions you need to have done to the house. Add this figure to the total. Decide how long you intend to live at the current address. You should probably plan on living there at least another 7 to 10 years. If you are planning on moving in a couple of years, a second mortgage is not worth the cost to you or to the lender. Get all the information about your current house together, including its current appraised value, balan
