2nds as collateral - Posted by DavidV

Posted by Ed Garcia on January 10, 2001 at 10:52:41:

David,

Yes you could borrow against a second if it shows recognizable equity to the lender. When I say “recognizable equity”, I mean, meets the lenders LTV criteria.

So yes, a lender can do what we call a Hypothecation.

Ed Garcia

2nds as collateral - Posted by DavidV

Posted by DavidV on January 10, 2001 at 10:07:29:

I have accumulated about 23k in 2nds and was
curious if banks would take these as collateral.
For example, to buy a lot to build a personal
residence on. Thanks.