What Exactly is a Second Mortgage…and How Does It Work?
Regan Hagestad
September 22, 2020
A second mortgage is a type of home loan that a lender approves in addition to an original mortgage that has not yet been paid in full. Homeowners can use a second mortgage to borrow against the equity they have in their houses, often at lower rates than other types of financing. Essentially, a second mortgage is a lien that’s taken
