Can you get an unsecured loan to pay off a current mortgage?

Answers:2   |   LastUpdateAt:2017-04-25 19:13:53  

Asked at 2012-08-06 05:57:48
If you have two loans for the same property and you want to pay is less, you can get an unsecured credit line for that?
Answer1indranil chatterjeeAnswered at 2012-08-06 06:01:02
In theory , yes. In practice, be impossible.
Answer2GeorgetteAnswered at 2012-08-06 07:19:02
Realize that an unsecured loan will come with a higher interest rate than a second mortgage on your home. Ask yourself why you are negotiating a loan for another if not for a great saving in the overall interest rate you are paying.
Answer3kishaAnswered at 2012-08-06 07:28:47
No warranty is a big word here. How can you convince someone to give you an unsecured loan and if they do what will the interest rate and fees ? If your credit is really good , then you should be able to, but for the average person who does not seem feasible.
Answer4-SummeRAnswered at 2012-08-06 08:03:46
In theory , the "yes " . In a practical sense , "no" .
Answer5ashaAnswered at 2012-08-06 20:29:02
Possibly . Try talking to an agent - I tried loanfinder and I sorted out OK.
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