A common mistake loan officers make is they consider refinancing a 1st and 2nd mortgage a “cash out” loan. Well, to most people, that might not mean anything. But, if you’ve been turned down on consolidating loans in the past or if you’ve been surprised how high the interest rate was, you should pay especially close attention to this week’s update!
I’ve found a work-around to get these loans that many other loan officers are turning down. If you know someone who received both a 1st AND a 2nd mortgage when they financed their home, we should really talk. I could probably save them a lot of money and potentially a really scary situation with their current 2nd mortgage! Many of the current 2nd mortgages out there are either and adjustable rate or a loan that could come all due at once fairly quick.
Watch this week’s video here:
If you know of someone who would benefit from talking with my team about this, send me a quick email (to Tyler@TylerOsbyTeam.com) and I’d love to help out!