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  • Digg it UP - Are You Planning A Second Mortgage?

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    Second mortgages are a huge commitment that you shouldn’t enter into lightly, as they carry many risks. It pays to know what you’re getting yourself into before you sign on that dotted line.

    To begin with, be careful of second mortgages that seem like they are for small amounts, but last for a very long time. A common trick is to get you to borrow a relatively small amount of money and then pay it back over 10 or 20 years at a small amount per month. Unless you add it up

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    risks. It pays to know what you’re getting yourself into before you sign on that dotted line.

    To begin with, be careful of second mortgages that seem like they are for small amounts, but last for a very long time. A common trick is to get you to borrow a relatively small amount of money and then pay it back over 10 or 20 years at a small amount per month. Unless you add it u

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    To begin with, be careful of second mortgages that seem like they are for small amounts, but last for a very long time. A common trick is to get you to borrow a relatively small amount of money and then pay it back over 10 or 20 years at a small amount per month. Unless you add it u

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    t last for a very long time. A common trick is to get you to borrow a relatively small amount of money and then pay it back over 10 or 20 years at a small amount per month. Unless you add it u
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    money and then pay it back over 10 or 20 years at a small amount per month. Unless you add it up, you might never realise that you can end up paying back more than twice what you borrowed.

    Interest is generally quite high on second mortgages, because of the risk the lender is taking. While you are warned that you’re using your house as security and it may be repossessed if you can’t keep up the payments, in reality any proceeds from the repossession of your house will b

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