Testing a new lending approach
Atlanta Business Chronicle - weather stormy subprime seas, a seven-year-old Atlanta finance company is taking a chance on a new mortgage loan program it plans to take nationwide. Archie Mae Inc. ’s new loan type, dubbed “The Bridge” by the company, is a 25 percent second mortgage

How much would proposed school bond issue cost you?
Wichita Eagle - Conceptually, the idea of a wraparound structure is less similar to taking out a second mortgage on a home than it is to owning two houses and paying two mortgages with separate financing and payment schedules, said Bart Hildreth, a WSU professor who

FORECLOSURES: Hitting at home
Chronicle-Telegram - However, in 2001, Gordon said she decided to take out a $14,000 second mortgage to pay for the addition. And for four years, everything was fine. Her mortgage payment was affordable only $440. But Gordon soon learned that wouldn t last. A little

As foreclosures soar, dreams die
Orlando Sentinel - Groos said the family’s debt grew when she and her husband took out a second mortgage to repair damage from the 2004 hurricanes. Then their income shrank when Groos opted to stay home from her Internet Web-design job to watch the couple’s children.

Ask the Biz Brain
Newark Star-Ledger - With this option, a second mortgage is taken out at the same time you close on the first mortgage. The first mortgage is for 80 percent of the home’s value, so no PMI policy is required. The second mortgage, either a home-equity loan or a home-equity