2007-03-12 06:31:23 · 3 answers · asked by margaret d 1 in Business & Finance ➔ Renting & Real Estate
actually, i should re-phrase that, i refinanced so that i could get a lower interest rate and split my mortgage into 2 so that we could eliminate the PMI.....
2007-03-12 07:15:59 · update #1
It depends on if you have equity left after both existing mortgages are paid. If you do then yes, you can get a third. If you don't then you still might be able to refinance your second mortgage for a 110% mortgage. Interest rates are high on those.
Good luck!
2007-03-12 06:36:11 · answer #1 · answered by Carrie W 2 · 0⤊ 0⤋
As a mortgage broker form Edmonton, Alberta, I deal with clients with credit issues frequently. One thing that I can say is that maybe a third mortgage is not your best option as the rates + fees will be very high. It may be better to try and re-finance the entire mortgage and pay off the 1st, 2nd & consolidate your debts ( If that's why you want a 3rd mortgage) I will only do financing in Alberta Canada but you can contact me @ http://AlbertaMortgageGuy.com if you have any questions
2007-03-12 06:57:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
yes
2007-03-12 06:38:03 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋