Money Management

What does taking out a second mortgage mean?

User Avatar
Wiki User
2007-07-06 01:08:16

you have two options when you need to pull out money from your

property. 1.) cash-out refi- where you pay off the current mortgage

and take additional cash with it. 2.) leave the current mortgage

alone and taking a second mortgage out for the cash. Second

mortgage all so means it is in second place behind the first


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.