2nd Mortgage, Fair Terms?? - Posted by Ryan

Real Estate Investing
1

Posted by FJW on January 15, 1999 at 19:23:36:

Sounds a little high, but it depends. Why don’t you get a whole new first?

FJW

2

2nd Mortgage, Fair Terms?? - Posted by Ryan

Posted by Ryan on January 13, 1999 at 22:36:38:

Hi Folks,

I’m getting a second on my primary residents, and I’m not sure if I’m getting a good deal or not.

I’m getting a second for $19,000.

and I’m paying the following closing costs:

Lawyer (not mine) $250.00

Appraisal 300.00

Originator 1140.00

Lender 200.00

Total $1890.00

The interest rate on the second will be fixed 15.15% (18% APR)for 15 years fixed.

Please let me know if you think I’m getting goosed, or if this is typical of today’s market?

Thanks in advance, Ryan.

3

Re: 2nd Mortgage, Fair Terms?? - Posted by cardenasr@aolcom

Posted by cardenasr@aolcom on January 18, 1999 at 18:33:39:

I DID A SECOND ON MY RESIDENCE 2 YEARS
AGO OF 20,000 . MY PAYMENT IS 228.25 MONTHLY. DOES THIS SOUND LIKE YOUR
PAYMENT?