I’m pretty young and I don’t know a lot about mortgages in the first place but how and why can you take a second mortgage on your house to gain a bunch of money? I hear people say it all the time in shows and movies and it sounds like a very bad thing.
In: Economics
I think when people say this in movies they are often making a joke. As in saying something is so expensive and unaffordable that they’d have to take out a second mortgage, or in other words borrow a massive amount of money, to pay for it.
Latest Answers