Is it better to refi a mortgage or get a 2nd mortgage?

I lost my job 2 years ago and my husband wants to retire, he will be 65 soon. Our debts are high and we can't make the minimums on the cc payments. HELPIs it better to refi a mortgage or get a 2nd mortgage?
the first things you should do is control your spending and look for a job. then you look at the mortgage. figure out what the penalty for refinancing is to determine whether or not it's worthwhileIs it better to refi a mortgage or get a 2nd mortgage?
In your current situation.. I would recommend refinancing everything into the mortgage.. It will be easier to manage.


** You'll first need to make sure you can afford the monthly payment.


** You'll then need to make sure you stay away from taking out more debt.. your getting older and don't want to be in the same situation in 5 years..


** If you can't handle the payments.. bankruptcy is an option..





For others who have a job and stability in their income.. I'd probably recommend having two mortgages to scatter the interest rates.. short and long.. Unless you can get into a good variable rate mortgage.





Good Luck
either 1 if you have the equity to do so


I am a mortgage banker in Tn %26amp; KY

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