Second Mortgage: How It Works and Advantages

A second mortgage, as the name indicates, is an additional loan that you take on your house with the help of a different lender, a house that already has an existing mortgage to begin with. While you start making payments on your second mortgage, you must remember that you are required to keep continuing making…

Reverse Mortgage: Definition and Advantages

A reverse mortgage is a type of home equity loan that is most effective for Canadian citizens who are aged 55 or more. The reverse mortgage is very much similar to a second mortgage, and basically is a loan that you have secured against your home’s value. Reverse mortgages provide homeowners with the ability to…