Crossword Solver > found answer > SECONDMORTGAGES

Welcome to Anagrammer Crossword Genius! Keep reading below to see if secondmortgages is an answer to any crossword puzzle or word game (Scrabble, Words With Friends etc). Scroll down to see all the info we have compiled on secondmortgages.

CROSSWORD
ANSWER

secondmortgages

Searching in Crosswords ...

The answer SECONDMORTGAGES has 3 possible clue(s) in existing crosswords.

Searching in Word Games ...

The word SECONDMORTGAGES is NOT valid in any word game. (Sorry, you cannot play SECONDMORTGAGES in Scrabble, Words With Friends etc)

Searching in Dictionaries ...

Definitions of secondmortgages in various dictionaries:

No definitions found

Word Research / Anagrams and more ...

Keep reading for additional results and analysis below.

Possible Crossword Clues
Homeowners may take them out
Sources of 35-Across financing
Uses for home equity

Last Seen in these Crosswords & Puzzles
Oct 30 2015 Universal
Apr 6 2001 New York Times
Nov 23 1998 New York Times

Secondmortgages might refer to
A second mortgage is a lien on a property which is subordinate to a more senior mortgage or loan. Called lien holders positioning, the second mortgage falls behind the first mortgage. This means second mortgages are riskier for lenders and thus generally come with a higher interest rate than first mortgages. This is because if the loan goes into default, the first mortgage gets paid off first before the second mortgage. Commercial loans can have multiple loans as long as the equity supports it. * When refinancing, if the homeowner wants to refinance the first mortgage and keep the second mortgage, the homeowner has to request a subordination from the second lender to let the new first lender step into the first lien holder position. * A second mortgage can be structured as a fixed amount to be paid off in a specific time, called home equity term. They can also be structured like a credit card giving the borrower the option to make a payment less than the interest charged each month. * Due to lender guidelines, it is rare for conventional loans for a property having a third or fourth mortgage. * In the terms of foreclosure, a second lien holder can start the foreclosure process when a homeowner stops making payments. The second lien holder has to satisfy the first mortgage balance before they could collect on the second mortgage balance. * In situations when a property is lost to foreclosure and there is little or no equity, the first lien holder has the option to request a settlement for less with the second lien holder to release the second mortgage from the title. Once the second lien holder releases themselves from the title, they can come after the homeowner in civil court to pursue a judgement. At this point, the only option available to the homeowner is to accept the judgment or file bankruptcy. * Generally, when considering the application for a second mortgage, lenders will look for the following:* Significant equity in the first mortgage * Low debt-to-income ratio * High credit score * Solid employment history

Secondmortgages might refer to

A second mortgage is a lien on a property which is subordinate to a more senior mortgage or loan. Called lien holders positioning, the second mortgage falls behind the first mortgage. This means second mortgages are riskier for lenders and thus generally come with a higher interest rate than first mortgages. This is because if the loan goes into default, the first mortgage gets paid off first before the second mortgage. Commercial loans can have multiple loans as long as the equity supports it.
* When refinancing, if the homeowner wants to refinance the first mortgage and keep the second mortgage, the homeowner has to request a subordination from the second lender to let the new first lender step into the first lien holder position.
* A second mortgage can be structured as a fixed amount to be paid off in a specific time, called home equity term. They can also be structured like a credit card giving the borrower the option to make a payment less than the interest charged each month.
* Due to lender guidelines, it is rare for conventional loans for a property having a third or fourth mortgage.
* In the terms of foreclosure, a second lien holder can start the foreclosure process when a homeowner stops making payments. The second lien holder has to satisfy the first mortgage balance before they could collect on the second mortgage balance.
* In situations when a property is lost to foreclosure and there is little or no equity, the first lien holder has the option to request a settlement for less with the second lien holder to release the second mortgage from the title. Once the second lien holder releases themselves from the title, they can come after the homeowner in civil court to pursue a judgement. At this point, the only option available to the homeowner is to accept the judgment or file bankruptcy.
* Generally, when considering the application for a second mortgage, lenders will look for the following:* Significant equity in the first mortgage
* Low debt-to-income ratio
* High credit score
* Solid employment history

Anagrammer Crossword Solver is a powerful crossword puzzle resource site. We maintain millions of regularly updated crossword solutions, clues and answers of almost every popular crossword puzzle and word game out there. We encourage you to bookmark our puzzle solver as well as the other word solvers throughout our site. Explore deeper into our site and you will find many educational tools, flash cards and plenty more resources that will make you a much better player. This page shows you that Homeowners may take them out is a possible clue for secondmortgages. You can also see that this clue and answer has appeared in these newspapers and magazines: October 30 2015 Universal, April 6 2001 New York Times, November 23 1998 New York Times . Secondmortgages: A second mortgage is a lien on a property which is subordinate to a more senior mortgage or loan. Ca...