2nd Mortgage

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2nd Mortgage

A 2nd mortgage is a cost effective way of financing your various expenditures. Using a collateralized loan gives you access to competitive borrowing rates and the interest expense is tax deductible. Debt consolidation, vacations, new vehicle purchases and home renovation projects can be financed by a second mortgage. Because your home is used as collateral for the 2nd mortgage, it’s vital that all its scheduled payments are made on time. Failure to make timely payments could result in the property being foreclosed.


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