Second Mortgage Leads
A second mortgage typically refers to a secured loan (or mortgage) that is subordinate to another loan against the same property. Many refer to a second mortgage lead as a home equity loan lead as the two terms share the same meaning.
Second mortgage leads are called subordinate because, if the loan goes into default, the first mortgage gets paid off first before the second mortgage gets any money. Thus, second mortgages are riskier for the lender, who generally charges a higher interest rate. In addition to second mortgage leads, there can be third mortgage leads and fourth mortgage leads, although these are quite rare.
Buying mortgage leads makes good business sense. For more information, and to learn why you should buy exclusive mortgage leads, simply fill out the form below.
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