Mortgages, Do Home Equity Loans Show Or Just Reverse And Second Mortgages?
FRANK July 19, 2009 at 7:33 pm · Reply All recorded mortgages are public record. I served as Recorder of Deeds. A second mortgage is any loan that is in a second lien position. But, a second mortgage generally refers to a loan that had a given principal paid at settlement, with specific monthly payment to repay. A home equity line of credit has a max amount that can be used, but that does not mean any money had to be draw at settlement. Interest only is paid, with charges made only to the amount of principal drawn. Payments can vary. Big daddy July 19, 2009 at 4:50 pm · Reply Second mortgage or home equities do show, when recorded and this is the issue. I used to work for a title company for a major lender and issues do arise. Some lenders send the home equity to be recorded themselves, lenders don’t know all the variables that go into a recording, they miscaculate fees, don’t know about cover pages, maybe there’s a dual tax id and it costs more, some states only accept single sided mo
