Two Mortgages At The Same Time
Foreclosure Issues
Name: Pad
Comments: What would be the reason for someone to have two mortgages at the same time? Is it just they think they are invincible and money will never run out or just plain stupid?
That is such an open question with an open answer that all or none of those can be right. however if you are juggling many things financially having two mortgages may be a necessity but the situation will have to be looked at thoroughly.
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I know may people will take out a second mortgage to help pay the costs of their children going through college or to help a relative get through a touch situation. Either way most people do not take out a second mortgage lightly.