2nd Mortgage Zone

I thought a mortgage was a mortgage. Buying a house, struggling to give your life to pay for until you are 80 so what's the deal with taking a second or third or fourth mortgage? What does this mean? The magic shell says: Nothing. half mortgage is simply a mortgage on the accumulated value of the property. A buyer of a $ 200,000 home. 40000160000 shareholders have a mortgage and over time the user pays for the loan of 10 000 to pay back and say that the house increases in value of 50 000, so the house is worth $ 250,000 next mortgage, 150 000 €. The owner may, for example, 50 000 second mortgage because the house is worth more, so the owner has more. A second mortgage will usually cost more (higher) because it is a little more risk for the bank. It is usually cheaper than a loan just because it is secured by the house), that is, if you go bankrupt, the house is sold, and two banks try to recover their money through the sale of your home.