second mortgage

After years of viewing their homes as piggy banks to be plundered at will, Americans are finally putting some money back in, at least when they're refinancing. According to new figures compiled by mortgage-funder Freddie Mac, in the fourth quarter of 2009, one-third of borrowers who refinanced...

As housing prices continue to fall and more and more homeowners are faced with negative equity or "underwater" positions, banks that hold second mortgage and equity line portfolios may soon feel a crushing blow. Zillow.com reported today that 21.8 percent of all U.S homes -- more than 16 million...