If you have a silent second mortgage should it show on your credit reports?
The term silent second is used most frequently to describe self-serving or perhaps fraudulent schemes where house sellers accept second mortgages as part of a sale transaction, without the full knowledge of the first mortgage lender. It does not go on your credit report unless you default.
Answered
-
Top Questions Asked on ChaCha.com for Second Mortgage
In the Last:
Month
-
Can you write the interest off your second mortgage on your taxes?
Generally, you can claim a tax deduction on the interest that...
-
How can I apply for a first second mortgage?
Find a mortgage company in your area and talk to them about t...
-
Can I file bankruptcy on my second mortgage and how do I do it?
Bankruptcy laws allow judges give the authority to remove or ...
-
If you go delinquent on your second mortgage, the lender can ...
-
What does it mean to take out a second mortgage?
A second mortgage is taking out a loan that is levied against...
About Second Mortgage
A second mortgage typically refers to an additional loan on property that is already mortgaged. Second mortgages are often assumed in order to provide funds for starting a business or other ventures.
Comments