Sal asked:


If I use a personal loan, secured by my home, to pay off my first mortgage, is all the interest on the personal loan fully deductible as mortgage interest?

Dana

waddle02 asked:


Say that the 2nd mortgage is substantially less than the value of the house. Let 's say that the value of the house is? in $ 300k, and the first mortgage (which is "in the house) is $ 40K left. You take a home equity of $ 20k. Qu? happens if you default on home equity, since? l can not rule in her house because the value is much more? s high that the amount borrowed.

Harold

eternal_enthusiast asked:


Hi,
I am buying a new home and am shopping for mortgages.
I recently locked in an mortgage rate with a broker and have been contacted by a few other brokers offering me much better rates ever since.
When I locked in the rate with my first mortgage broker, he didn’t charge me any fee. Can I now pick a new mortgage broker without incurring any problem? Am I obligated to anything? My broker didn’t charge me any anything, didn’t mention any fee and I haven’t signed anything.

Thanks for your help.

Glenda

punkinbutt’smama asked:


I am aware that if our home appraises for more than 20% more than what we owe, that the PMI can be removed. But, my concern is that we also have a second mortgage. Do they figure the second mortgae into this also? I was hoping they’d only be looking at the first mortgage and that I could pay the money to have it appraised again and have the PMI taken off.

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