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second mortgages: What You Should Know About Financing a Second Home - 07/17/09 06:26 AM
Within a short drive from the Lehigh Valley, there are beautiful homes in the mountains or by the shore that are great options for second homes or vacation homes.  As tempting as having a weekend (or annual) retreat available is, buyers should do research before financing a second home.  Make sure you crunch the numbers, so the purchase doesn't become your worst financial nightmare. Below are several tips that every buyer should review prior to purchasing their dream vacation home.
Use the equity in your first home or pre-tax funds form an IRA towards the purchase.  This can help you avoid … (4 comments)

second mortgages: Revised Loan Modifications Includes Second Mortgage - 05/21/09 10:15 PM
The Obama administration has created new guidelines to address borrowers that have equity loans and other second mortgages. According to the Credit Suisse Group, approximately half of delinquent borrowers have a second mortgage. When the administration initially created the $75 billion program to address the housing market, they failed to address second mortgages.
The revised plan requires mortgage-servicing companies that participate in the loan-modification program for secured liens to modify the second mortgage when the first mortgage is redone. The cost of reducing the interest rate on the second mortgage will be shared by the government. The government will also pay … (0 comments)

 
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Don Wenner

Allentown, PA

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DLP Realty

Address: 701 W Broad Street , Suite 200 , Bethlehem , PA, 18018

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