Second Mortgages (on your Home)…..

[karina5]

Have you ever got a 2nd mortgage or have any idea how that works? Long story short, but a friend brought it up as a way for us to live for a couple years while DH finishes school. After school he will be getting a well-paying job, so we could all pay it back then.

This is probably something I am too nervous to do, but just throwing the idea out there.

[frog]

We did it when my ex and I remodeled the lilypad. It was easy and no trouble until we split up, at which point I refinanced and owed more on the house than I did when I bought it. :

[karina5]

Thanks, frog. I'm bumping b/c I'm hoping to get more responses.....

Also, that would mean that I'm not working at all (and neither is DH as he is a full-time student), and I am wondering how that would be viewed by lending agencies. Also, not that I care what people think, but I do care a bit about what my parents think and they would FREAK if none of us are working, so just wondernig how that would go into play as well.

*sigh* I just want to find a way that we can live without me having to work at a job that is soul-crushing. This is a really complicated issue for us, and more to do w/ just the mortgage itself, but all the emotional stuff that comes with it.


DANG. I've been trying to add that to the OP and it won't let me! I'm going to try one more time.

[frog]

You might have more takers in frugality and finances.