what is a silent second mortgage

What is Silent Second Mortgage? definition and meaning – A scheme where a buyer of real estate takes a second mortgage on the property without the knowledge of the first mortgage lender. The second mortgage is then used as a down payment to the first mortgage which increases the first mortgagor’s risk.

What is a silent second mortgage loan? – Mortgagefit – A silent second mortgage is a second lien mortgage which is obtained without informing the first lien holder. This means that the first mortgage holder on your property is unaware of the fact that there’s a second mortgage on the property. Buyers take this type of silent loans to provide for the downpayment on the first mortgage.

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Silent What Is Mortgage Second A – Fhaloanlimitsnorthcarolina – – Mortgagefit – A silent second mortgage is a second lien mortgage which is obtained without informing the first lien holder. This means that the first mortgage holder on your property is unaware of the fact that there’s a second mortgage on the property. Amid Housing Boom, Hometap Raises $12M to Buy a Piece of Your Home – Hometap

Mortgage Assistance Program | City of Tampa – The City of Tampa offers down payment assistance loans to income eligible home buyers of property within the City limits of Tampa. The loan is in second position behind primary financing from a mortgage lender and is typically known as a “silent second” because of the 0% rate and $0 monthly payment.

City Of Tampa Mortgage Assistance Program – City Of Tampa Mortgage Assistance Program: The City of Tampa offers down payment assistance loans to income eligible buyers of property within the City limits of Tampa.

Is a Second Mortgage a Good Idea? | Total Mortgage Blog – To many home buyers the idea of taking out two mortgages on the same house sounds frightening. However, a second mortgage-also known.

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30 year fixed mortgage rate today are reverse mortgages a scam Reverse Mortgage Funding Review – Pros, Cons and Verdict – Read our unbiased review of Reverse Mortgage Funding. See how Reverse mortgage funding compares to the best Reverse Mortgages.Compare Today's 30 Year Fixed Mortgage Rates – NerdWallet – A 30-year fixed-rate mortgage is a home loan that maintains the same interest rate and monthly payment over the 30-year loan period. The 30-year fixed-rate mortgage is the most common type of mortgage because it provides the security of a fixed payment and the flexibility to afford a larger mortgage loan.

What Is a Silent Second Mortgage? Pros, Cons, and Risks. – What is a silent second mortgage? Let’s say you have your eye on a home and need a mortgage, but you don’t have enough money for the down payment required by a lender (typically 20%).