Second Mortgages Mean Cash in Your Pocket
We all have moments where a little extra money would go a long way. Job loss, pressing repairs around the house, and other situations that require a little more money than you currently have at your disposal happen to everyone. If this has recently happened to you, it’s no time to panic. You have many borrowing options at your disposal that will get you the cash you need, and will get it for you quickly too. But, while a credit card or personal bank loan might be the first thoughts that come to your mind, beware that these are some of the costliest ways to borrow and could put you deep into debt. A much better option is a second mortgage, which allows you to use the equity in your home to put extra cash in your pocket.
With a second mortgage, a homeowner can leverage the additional value stored in their home to pay bills, take a refreshing vacation, or even start a business. The difference between the amount owed on your first mortgage and value of your home can be a tremendous amount of money and further, it’s yours. This is the money that you’ve already paid. You should be able to tap into it and put it to good use.
Use a second mortgage to advance your career by furthering your education. Pursue that advanced degree you’ve always wanted or earn a certificate. Use a second mortgage to start the business you’ve been dreaming about. Upgrading your kitchen with new countertops and appliances with a second mortgage is a great way to use the loan, as it actually increases the value of your home – putting more equity into your home just by borrowing from it!
Another great way to use the cash you get from a second mortgage is to put the money in the bank for a rainy day, or into your retirement savings account. A second mortgage can provide you with access to a lifestyle that would otherwise be unattainable, both now and for many, many years to come!
If you’re behind on a few bills, use a second mortgage to catch up or even better; pay those bills off completely. If those bills are from credit card collectors, you can pay off that debt completely and pay it back at a much lower rate on your second mortgage. Maybe you’ve been staring at the ceiling at night worrying about paying or your kids’ college educations. Well a second mortgage can pay for that, too. Make sure that they have money for tuition, books, rent, and maybe even a little extra spending cash too!
Regardless of poor or middling credit, intermittent or low income, joblessness, or any other bump in the road, talk to a mortgage professional today about receiving a second mortgage. If you need more money, would like more money, or are just interested in knowing your options, just see what a second mortgage can do for you.
For more information on <a href=”http://www.canadianmortgagesinc.ca/second_mortgage/”> what is a second mortgage </a> and <a href=”http://www.canadianmortgagesinc.ca/second_mortgage/”> Second Mortgage</a>, visit most trusted and experienced mortgage broker at www.canadianmortgageinc.ca or call 1-888-465-1432 to speak to an experienced broker agent.
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