If you have a home loan, perhaps you have considered refinancing your loan. Homeowners may refinance their home loan to cash-out and pay outstanding credit card balances and consumer loans. In addition, refinancing a home loan is ideal if you have two mortgages. Combining a first and second mortgage into a new loan is a great way to consolidate debt.

Why Get a Second Home Mortgage?

Many homeowners obtain a second mortgage. The reasons vary. Some may get a second mortgage to eliminate credit card debt, whereas others may borrow money to complete home improvements. If you get a second mortgage, the funds are secured by your home