Our refinance and 2nd loans can prevent foreclosure if borrowers act fast with refinancing options to avoid payment defaults. In many cases, government loans or hard money second mortgages can also prevent foreclosure if homeowners refinance prior to being forced out of their home.
We will introduce you to mortgage bankers that offers foreclosure prevention with a short sale mortgage, refinancing and hard money home equity loans for debt consolidation and cash out to avoid losing your home. Sometimes a refinancing can save you from a foreclosure. Foreclosures go into effect when a homeowner does not make his or her mortgage payment for an extended period.
Can I take out a second mortgage to get my first mortgage caught up and prevent a foreclosure?
Taking out a 2nd mortgage may be an option to get your 1st mortgage caught up, but you need to have enough equity in your home for this to be a consideration. In most cases you will need to be less than 70% combined loan to value to qualify for a 2nd mortgage or bad credit HELOC loan if you have a reported 120 day mortgage late on your credit report.
Usually a lender will begin the foreclosure process after the borrower has missed 3 months in a row of mortgage payments. Second mortgages can help prevent a foreclosure in some cases. If you are late on your mortgage payments, and you need cash to get caught up, then consider a second mortgage loan so you can stop the foreclosure proceedings.
Save your home with a second mortgage from Nationwide!
Nationwide Mortgage Loans provides wholesale second mortgage solutions to help homeowners get cash, finance home improvements and consolidate their bills to lower interest and save money. Find out how much our clients are saving each month year by getting the lowest possible interest rates with our wholesale loan programs.
Fixed Rate Refinance Option with FHA and Non QM Loans
FHA Home Mortgages offer low rate 30-year fixed rate loans for borrowers who have been late on their mortgage after their payment adjusted. FHA home loans that are offered up to 97% rate and term or 95% for refinancing terms with cash out. (credit scores are not a factor, but mortgage history is critical).
The FHA Secure loan was released specifically to assist foreclosure prevention. Millions of borrowers have had been suffering with adjusting mortgage rates and many of them are unable to afford their new variable rate payment. The FHA Secure give borrowers another opportunity to refinance into an affordable fixed rate mortgage.
FHA home loans ensure low fixed mortgage rates. Also see options for FHA Streamline Refinance and FHA Secure Refinancing.
BD Nationwide offers second mortgage solutions designed to streamline your bills into a single, consolidated payment. Homeowners are opting to shorten their pay-off terms by making additional principal payments each month. Discover the substantial monthly savings achieved by our clients as they refinance the revolving interest on their credit cards into a fixed simple interest second mortgage.
Highlights on Second Mortgage Foreclosure Programs
•Fixed Rate Second Mortgages
•Refinance Past Due Mortgages
•1st and 2nd Mortgage Consolidation
•Refinance Credit Card Debts
•Pay off Collections
•Avoid Foreclosure
•Past Bankruptcy OK
Additional 2nd Mortgage Loans to Consider: 2nd Mortgage Terms | No Documentation Mortgage | Second Mortgage Refinancing | 90% | 100% Mortgage
Please view the popular loan products above. If you need more information, Please select the loan that meets your financing needs most. To get more details click the relevant link below that meets your needs and for further research.
