Refinancing a first and second mortgage together is a simple process that is quite similar to a first mortgage refinance, but the two loans are combined to get a better overall interest rate. Consolidate debt by refinancing with advice from an experienced mortgage broker in this free video on personal finance.

Expert: Matthew McKillen
Contact: www.innovativefg.com
Bio: Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients.
Filmmaker: Christopher Rokosz

Duration : 0:1:13

Continue »

Technorati Tags: bank, brokers, calculations, estate, home, interest, loan, loans, mortgage, Mortgages, officers, rates, real

I hear that if a bank goes under other banks will buy these mortgages. But with so many mortgages exceeding values of homes, many banks might not want to buy the mortgages. What would happen if a bank goes under, and no one wants to buy their crappy mortgages?

It would not happen. Some other lender would purchase the mortgages, simply because there is value there. No bank has ALL crappy mortgages. Another lender(s) will analyze the quality of the ‘paper’ and make a decision what the entire package is worth, and would purchase same, perhaps for less than the actual outstanding amount.

Technorati Tags: bank, banks, business, crappy, lender, Mortgages, quality, the, value, what happens to mortgages if the bank goes out of business and no one wants to buy them