Second Mortgage Vs. Home Equity Loan

Second Mortgage Vs. Home Equity Loan

A primary mortgage lender advances money to a borrower, who uses the funds to finance the purchase of a home. A mortgage is a secured loan, since the home acts as a collateral for the borrowed sum. The homeowner is expected to make principal and interest payments on a...
Mortgage Process Explained

Mortgage Process Explained

A mortgage loan, simply put, is to pledge a property to a creditor as security against the debt repayment. In other words, if a borrower is unable to repay the loan in the stipulated amount of time, then the house owned by him can be taken away by the creditor....