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-   -   Contract for 2nd mortgage OK or not (https://www.askmehelpdesk.com/showthread.php?t=211751)

  • May 2, 2008, 06:26 AM
    slvrtrixter
    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
  • May 2, 2008, 06:51 AM
    excon
    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
  • May 2, 2008, 06:59 AM
    JudyKayTee
    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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