1. Silent Second Mortgage Definition – Investopedia
A silent second mortgage is a second mortgage placed on an asset (such as a home) for down payment funds that are not disclosed to the original lender on (1)…
Silent second mortgages are used when a buyer can’t afford the down payment required by the first mortgage. The legal way to do it is by seeking government (2)…
2. What Is a Silent Second Mortgage? – The Balance
Apr 29, 2022A silent second mortgage, sometimes called a soft second or subordinate mortgage, is when borrowers take out a separate loan to assist with the (3)…
May 24, 2022A silent second mortgage is a second mortgage that is taken on a home or another asset for a down payment. Here’s how it works and why you (4)…
3. Silent Second Mortgages | The Ascent – The Motley Fool
Jul 7, 2022A silent second mortgage is a loan that’s hidden from a mortgage lender. The goal of such a loan is to make the lender believe the home buyer (5)…
4. What Is a Silent Second Mortgage? Pros, Cons, and Risks
Jan 16, 2017Enter the silent second mortgage, a loan provided to a home buyer in order to cover the down payment, says Joseph Tsentner, a mortgage loan (6)…
Jan 24, 2022A silent second mortgage is a second loan that’s taken out in addition to a primary mortgage in order to cover the cost of the required down (7)…
5. What Is a Silent Second Mortgage: Things You Need To Know
Feb 23, 2022A silent second mortgage is a second or additional mortgage placed on a piece of real estate, typically a house, to fund the down payment (8)…
6. Silent Second Mortgages
Apr 16, 2007The term “silent second” is used most frequently to describe self-serving or perhaps fraudulent schemes where house sellers accept second (9)…
Like a sleeping bear, long-silent second mortgages hibernate in people’s houses these days. They are quiet, a snoozing predator, just waiting for spring.(10)…
7. How Does A Silent Second Mortgage Work? – Insurance Noon
Mar 19, 2021A silent second mortgage is a second mortgage placed on an asset like property for down payment funds. This second mortgage is not disclosed to (11)…
8. What is a “piggyback” second mortgage?
Sep 4, 2020A “piggyback” second mortgage is a home equity loan or home equity line of credit (HELOC) that is made at the same time as your main (12)…
Sep 4, 2020A second mortgage or junior-lien is a loan you take out using your house as collateral while you still have another loan secured by your (13)…
9. Could This Little-Known Secret Help You Get a Mortgage?
Jun 2, 2022A silent second mortgage provides an opportunity to obtain the funds you need for a down payment but there’s a right way and an illegal way (14)…
10. What is a Silent Second Mortgage? (with pictures)
Sep 16, 2022Silent second mortgages are mortgages that are taken out on properties that already carry mortgages. With this particular approach, (15)…
11. Financial Assistance for Struggling Homeowners
With a silent second mortgage, the family makes no payments of principal or interest while living in the home, but must repay the second mortgage when they sell (16)…
The reason that these types of second mortgages are referred to as a silent second is because they typically have a zero-interest or very low-interest (17)…
12. Silent Second Mortgages | The Ascent – The Motley Fool
(1) A second mortgage placed on a home, usually in favor of the seller, so that a purchaser can buy the home even without a sufficient down payment.They are (18)…
13. Silent Second Mortgages | The Ascent – The Motley Fool
When participants close on their home, they sign a note and a mortgage. The mortgage is filed right after the first (primary) mortgage, making it a second (19)…
14. HAPI FAQ – Homes Are Possible Inc.
For new homes sold in a HAPI subdivision, the silent second mortgage is a method HAPI uses to lower the final cost of the home to the homebuyer. It is, (20)…
Second Mortgage Loan* · Up to 4 percent of your first mortgage** (Example: Get up to $8,000 on a $200,000 mortgage) · Repayment of loan balance deferred until (21)…
15. House Pricing/Mortgage Summary
The first mortgage is the only mortgage that the homeowner makes payments on every month. It is equal to the purchase price minus any silent second (22)…
16. Silent Second Mortgage Definition | Law Insider
Define Silent Second Mortgage. or “Silent Second” means an amount equal to $ , which is equal to the difference between the Fair Market Value of the (23)…
However, this “silent second” mortgage is due and payable, in full, upon the sale HFA PLUS Second Mortgage is a down payment and closing cost assistance.(24)…
17. REPAYMENT OF SILENT SECOND MORTGAGE – AWS
REPAYMENT OF SILENT SECOND MORTGAGE. *BORROWER MAKES FIXED MONTHLY PAYMENTS UNTIL. LOAN IS REPAID. *BORROWER IS ALLOWED TO DEFER PAYMENTS FOR A.(25)…
18. Down Payment and Closing Cost Assistance – FDIC
DPA SECOND MORTGAGES (AMORTIZING). A second mortgage loan is subordinate to the first mortgage and is used to cover down payment and closing costs.(26)…
19. First-Time Homebuyer Program – City of Baldwin Park
If you are thinking of purchasing a home in the City of Baldwin Park, consider the Silent Second Program. It provides a loan that funds the difference (27)…
20. FAQ for CalHFA Homeowners | CA Housing Finance Agency
The CalSTRS silent second loan is a Note only and shares the Deed of Trust with the first, which is serviced elsewhere. Because both Notes are associated with (28)…
May 4, 2022Community Seconds loans are only eligible on principal residence transactions. They are not permitted on second homes, investment properties, or (29)…
21. Mortgage Assistance Program (MAP) | Yorba Linda, CA
The MAP loan is in the form of a “silent second” and is considered a second mortgage on the home. The MAP participant borrows a prescribed amount from the City, (30)…
22. Are There Any Risks With Using Down Payment Assistance?
The reason why they are called “silent second” mortgages is that there are no payments due for the life of the first mortgage in most cases.(31)…
23. What Happens If I Don’t Pay My Second Mortgage? – Nolo
A “second mortgage” is a home loan you take out using your house as security. The second mortgage is junior to another mortgage (a “first mortgage”).(32)…
24. Is a Silent Second Mortgage Legal?
Jan 30, 2018“Silent second mortgage” sometimes pertains to a secondary loan which is not disclosed to the lender of the original mortgage. The lender is (33)…
25. Definition Of Silent Second In Mortgage
For example, a labor union may offer members who are first-time home buyers a silent second to finance closing costs or the down payment. The second might bear (34)…
You chose not to answer this question. A borrower commits mortgage fraud when he or she takes part in a silent second mortgage. This is when a buyer borrows (35)…
May 20, 2012A silent second mortgage is a mortgage in the second loan position on a home, and the lender of the first mortgage is not aware of it.(36)…
Assistance may be used for purchase price assistance and is provided as a silent second mortgage secured by the buyer’s home which bears 0% interest.(37)…
Excerpt Links
(1). Silent Second Mortgage Definition – Investopedia
(2). Silent Second Mortgages: Benefits, Risks, & How They Work
(3). What Is a Silent Second Mortgage? – The Balance
(4). How Do Silent Second Mortgages Work? – SmartAsset.com
(5). Silent Second Mortgages | The Ascent – The Motley Fool
(6). What Is a Silent Second Mortgage? Pros, Cons, and Risks
(7). What Is a Silent Second Mortgage?
(8). What Is a Silent Second Mortgage: Things You Need To Know
(9). Silent Second Mortgages
(10). Long Silent Second Mortgages: The Worrisome Truth
(11). How Does A Silent Second Mortgage Work? – Insurance Noon
(12). What is a “piggyback” second mortgage?
(13). What is a second mortgage loan or “junior-lien”?
(14). Could This Little-Known Secret Help You Get a Mortgage?
(15). What is a Silent Second Mortgage? (with pictures)
(16). Financial Assistance for Struggling Homeowners
(17). Down Payment Assistance Second Mortgage
(18). Silent second – Financial Dictionary
(19). GNND Good Neighbor Mortgages – HUD
(20). HAPI FAQ – Homes Are Possible Inc.
(21). CHFA: Down Payment Assistance
(22). House Pricing/Mortgage Summary
(23). Silent Second Mortgage Definition | Law Insider
(24). Florida Housing’s Homebuyer Programs o er 227 North …
(25). REPAYMENT OF SILENT SECOND MORTGAGE – AWS
(26). Down Payment and Closing Cost Assistance – FDIC
(27). First-Time Homebuyer Program – City of Baldwin Park
(28). FAQ for CalHFA Homeowners | CA Housing Finance Agency
(29). B5-5.1-02, Community Seconds Loan Eligibility (05/04/2022)
(30). Mortgage Assistance Program (MAP) | Yorba Linda, CA
(31). Are There Any Risks With Using Down Payment Assistance?
(32). What Happens If I Don’t Pay My Second Mortgage? – Nolo
(33). Is a Silent Second Mortgage Legal?
(34). Definition Of Silent Second In Mortgage
(35). Quiz – Mortgage Fraud – National Association of REALTORS®
(36). Are Silent Second Mortgages Legal?
(37). NSP1H – Riverside County Economic Development Agency
Category: Finance
