Silent Second Mortgage

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Buying a home with no money down 2018 (DETAILED!) A silent second mortgage is a second mortgage placed on an asset for down payment funds that are not disclosed to the original mortgage lender. Enter the silent second mortgage, a loan provided to a home buyer in order to cover the down payment, says Joseph Tsentner, a mortgage loan officer with Freedom Mortgage in New York.

This type of down payment grant is also called a “silent second” because it is structured similar to a second mortgage but the payments are deferred, which.

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silent second mortgage. Definition. A scheme where a buyer of real estate takes a second mortgage on the property without the knowledge of the first mortgage lender. The second mortgage is then used as a down payment to the first mortgage which increases the first mortgagor’s risk. Print Cite / Link.

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A silent second mortgage is a second mortgage placed on an asset for down payment funds that is not disclosed to the original lender on the first mortgage. Silent second mortgages are used when a. Silent Second Lien financings popular lending Structure.

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The City of Yorba Linda has recently reinstated the Mortgage Assistance. The assistance is in the form of a silent second loan and participants must meet.

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FHA has various mortgage insurance programs, most of which allow second. home by providing low-interest and sometimes "soft" or "silent" second loans to.

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