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    qwertyytrewq's Avatar
    qwertyytrewq Posts: 1, Reputation: 1
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    #1

    Oct 21, 2008, 03:59 PM
    Is it possible to transfer a 2nd mortgage to another property?
    I have a beautiful home purchased with a 10 year libor at 6.5%. We are not in default in any way, we have only been in the house about 18 months and my husband found work is now about 300 miles away. I think if we could unencumber the house's second we could sell it, pay down the second and find another property who's LTV would accommodate the balance.

    Is that doable?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Oct 21, 2008, 04:01 PM

    Not really transfer, you could get another 2nd mortgage on the new property, with the purpose of paying off the other second mortgage. ** I guess about same issue but it will not transfer but have to be paid off with another mortgage

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