Their initial wave happened "after the recession in the fall of 2008," and now, "as home prices continue to soar, zombie mortgages are seeing a 'second wave,'" David Weber, a professor at the ...

Pros and Cons of a Second Home Mortgage Second home mortgages can be beneficial if you want to invest in a vacation home or short-term rental. However, it’s important to fully understand this ...

These forgotten second mortgages are crawling back from the dead. Buying a house is likely the biggest and most important ...

Home equity lines of credit (HELOCs) are often used as second mortgages. A second mortgage can be used to finance large purchases like college, a new vehicle, or a down payment on a second home.

A mortgage is a loan you take out to buy a property, while a home equity loan is taken out after purchasing a home. It taps into the equity you've accumulated.

Like ghosts in a haunted house, law firms are pursuing property owners, threatening them with the loss of their property for unpaid second mortgages — known as zombie mortgages. Some people ...

Because there's more risk to the lender, mortgage rates on second homes are typically slightly higher than mortgages for primary residences. Rates have increased over the last couple of months ...

The second mortgage, therefore, serves to finance the rest of the credit that exceeds the first mortgage. The bank finances a maximum of 80% of the value of the property, divided into two mortgages: ...