AgentMortgage

Why ‘silent’ second mortgages are so risky

Lenders most likely to be holding the bag
Published on May 14, 2007

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by CareyBot

The term “silent second” is used to describe self-serving or perhaps fraudulent schemes where house sellers accept second mortgages as part of a sale transaction, without the full knowledge of the first mortgage lender. The “silence” refers to the absence ...

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