Aidil262 Aidil262

11-01-2022
Business

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What type of mortgage loan allows a borrower who has an existing loan to get another loan from a second lender without paying off the first loan

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slonetrace slonetrace

19-01-2022

Answer:

A second mortgage or junior-lien

Explanation:

A second mortgage or junior-lien is a loan you take out using your house as collateral while you still have another loan secured by your house. Home equity loans and home equity lines of credit (HELOCs) are common examples of second mortgages.

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