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2. What is a second mortgage, and how does it work? - AOL

   www.aol.com/finance/second-mortgage-does...

   If you have a home worth $300,000 and $200,000 remaining on your first mortgage, for instance, you might be able to borrow as much as $55,000 through a second mortgage: ($300,000 x 0.85) – $200,000.

3. Second mortgage - Wikipedia

   en.wikipedia.org/wiki/Second_mortgage

   Second mortgage interest rate payments are also tax deductible given certain conditions are met. [35] This advantage of second mortgages reduces the borrower's taxable income by the value of the interest expense. [36] In general, total monthly repayments on the second mortgage are lower than that of the first mortgage.

4. How to refinance when you have a second mortgage - AOL

   www.aol.com/finance/refinance-second-mortgage...

   Piggyback mortgage: A piggyback mortgage helps fund a down payment on a house, allowing you to avoid paying for mortgage insurance or taking out a jumbo loan. 5 steps for refinancing your second ...

5. Loan modification in the United States - Wikipedia

   en.wikipedia.org/wiki/Loan_modification_in_the...

   Through the SMP, servicers may change the terms of a loan to reduce a borrower's first lien monthly mortgage payment, including taxes, insurance and homeowners association payments, to an amount equal to 38 percent of gross monthly income. The changes in terms may include one or more of the following: [17]

6. Guide to first-time homebuyer loans and programs - AOL

   www.aol.com/finance/guide-first-time-homebuyer...

   That said, many first-time buyers go with a 30-year, fixed-rate mortgage because the monthly payments are lower and more predictable. Two popular 30-year fixed-rate choices: conventional loans and ...

7. Have Home Equity? Experts Explain Why You Should Use It To ...

   www.aol.com/home-equity-experts-explain-why...

   “The interest on the mortgage of a second property is tax-deductible, which can help offset some of the costs associated with owning and maintaining multiple properties.”