What are the uses for second mortgage finance?May 28, 2020
Second mortgage loans are a popular type of lending for business. As such, second mortgages have great benefits for businesses requiring fast access to funds. However, private mortgage loan funds are usually short term loans. Consequently, you would need to have thought about how to pay back the funds within the loan term, or at the end of the loan term.
Second mortgage loan terms are commonly between 1-12months so are usually repaid from the sale of an asset or a loan refinance.