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Home > Law > Real Estate Law   »   contract for 2nd mortgage ok or not

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Old May 2, 2008, 05:26 AM
slvrtrixter
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contract for 2nd mortgage ok or not

I don't have funds to seek a real estate attorney to review a contract for a second mortgage. Is there any lingo that I would not want in a mortgage lien when I go sign the papers? The loan is a 10yr frm second mortgage from M&I bank in WI. Perhaps certain phrases in fine print that may make me loose my home faster then usual? Thanks

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Old May 2, 2008, 05:51 AM   #2  
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Hello s:

At least an attorney would have the benefit of reading your contract. You're asking us to make suggestions having never read it. We ain't that good.

excon

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JudyKayTee agrees: Good? Heck, we'd have to be psychic!
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Old May 2, 2008, 05:59 AM   #3  
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Quote:
Originally Posted by slvrtrixter
I don't have funds to seek a real estate attorney to review a contract for a second mortgage. Is there any lingo that I would not want in a mortgage lien when I go sign the papers? The loan is a 10yr frm second mortgage from M&I bank in WI. Perhaps certain phrases in fine print that may make me loose my home faster then usual? Thanks


You could be making a devastating mistake - read through the other threads, people who have signed contracts and agreements without reading or understanding. Keep in mind that the bank is protecting the bank - not you or your interests.

That being said - it's most likely boilerplate, all have the same language.
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