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    slvrtrixter's Avatar
    slvrtrixter Posts: 12, Reputation: 1
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    #1

    May 2, 2008, 06:26 AM
    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
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    May 2, 2008, 06:51 AM
    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
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #3

    May 2, 2008, 06:59 AM
    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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