There’s been a lot of activity in the residential real estate and real estate lending markets over the past few decades. Home prices have spiked and fallen in many parts of the country, while foreclosures and similar proceedings are at or near record levels. Another significant development has been the rapid decline in interest rates, sending mortgage loan rates to all-time lows. There is also a fair amount of misinformation surrounding many of the financing vehicles and programs available for residential real estate. Second mortgages in particular are a common source of confusion. Here is some information and advice on...

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