Separating Truth From Fiction When It Comes To Second Mortgages

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Separating Truth From Fiction When It Comes To
Second Mortgages
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• Are you finding it hard to keep up with your
  bills and finance your lifestyle? If so, you
  might be considering taking out a second
  mortgage. However, second mortgages are often
  misunderstood, and there are several myths
  surrounding them that make it hard for homeowners
  to make the right decision for their
  circumstances. While talking to a qualified
  mortgage broker in your area can help separate
  the truth from the fiction when it comes to
  second mortgages, you might also find the
  following information helpful

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• Common myths about second mortgages, debunked
• Only those with no other possible options take
  out second mortgages
• This is absolutely not true! To qualify for a
  second mortgage, an individual must own a home
  with enough equity available to borrow against,
  and if youre someone who has no other financial
  option, theres a strong chance you wont own
  your own home.
• Even for those who may not necessarily be
  struggling financially, but would like to release
  some home equity to fund a renovation project or
  even buy another home, a second mortgage can be a
  great option.

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• Second mortgages theyre way too complex!
• The concept behind second mortgages is in fact,
  pretty simple if you own your own home and have
  a substantial amount of equity available, you can
  turn it into cash, to do whatever you want with.
  The money from your second mortgage can be
  received in a single, lump sum, or in monthly
  payments a lot will depend on your preference
  and your lenders terms and conditions.
• However, should you find the process to be at all
  confusing in any way, or would like to discuss
  whether a second mortgage is right for you, an
  experienced mortgage broker will happily talk you
  through your options and simplify the entire
  process.

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• The money from a second mortgage, can only be
  used for certain things
• Again, not true at all! This common myth has long
  been deterring homeowners from taking out a
  second mortgage, but its completely false. When
  it comes to how you use the money from a second
  mortgage, there are absolutely no restrictions
  placed upon you at all. Because the home equity
  belongs to you, nobody can tell you what you can
  or cant use the money for, and whether you want
  to pay off a debt, buy a new car, renovate your
  home or pay for emergency medical fees, the money
  is yours to do with as you wish.

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• Now that youve seen what isnt true about second
  mortgages, perhaps its time to sit down with
  your mortgage broker and have a serious
  conversation about whether a second mortgage
  could be the solution to your financial woes.
• Mortgage-broker-Calgary is your best resource for
  finding a mortgage for your property. Luke Wile,
  is one of the best Calgary mortgage brokers and
  is proud to serve clients from across Canada,
  while being centered in Calgary, Alberta. Luke is
  proud to serve his clients with a personalized
  approach to finding his clients the best and
  lowest Canadian interest rates and terms offered
  by the major banks and private lending
  institutions. If you are looking for a 2nd
  mortgage in Calgary, with Luke Wile you can get
  fast and personal expertise for your mortgage.
  Contact us today!