Second Mortgages: Advantages and Disadvantages

Second Mortgage Advantages and Disadvantages

 

A second mortgage enables you to borrow against the equity of your home. Owning a home is an asset, and over time your home will grow in its financial worth. A second mortgage is also called a home equity line of credit (HELOC) and is a loan that allows you to use the value of your home to invest in a particular venture.

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