Can you refinance a second mortgage?
Definitely! Refinancing a second mortgage is possible and can be a wise financial move if you're looking to lower your interest rate, reduce monthly payments, or consolidate debt. Just like with a primary mortgage, you'll want to shop around for the best rates and terms. Also, check if you're going to face any prepayment penalties on your current second mortgage.
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Nope, keep what you got. Refinancing sounds nice until you're drowning in paperwork and fees. Sometimes the devil you know is better than the devil you don't.
Yes, refinancing a 2nd mortgage is totally doable. But, remember, lenders will take a close look at your current debt-to-income ratio and credit score. So, if your financial situation has improved since you got the second mortgage, you're in a good spot.
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