Question:

When to use a second mortgage note form?

Answer:

A second mortgage note form may be found online. Residential mortgage note forms are filled by homeowners who want to sell a first or second note on their property partially or in full.

In a second mortgage note form you will have to fill in your names, address, date of sale, closing date of the loan, the interest rate, the original loan amount, current second mortgage balance and balloon due (if any).

These details will be used by a real estate funding company to find buyers for your second mortgage note. Also, second mortgage notes secured by single and multi family residences, condos, mobile homes with land and commercial properties are often bought in full, partially, or for a specified sum.

Since rates are so low, now it could be a good time to fill in a mortgage note form and sell all or a part of your first or second note.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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