The difference between a home loan and a home equity loan lies mainly in that the home equity loan, also known as a second or even third mortgage, is issued at a higher interest rate. Now when you take out a second mortgage home equity loan, the money that results from this is yours. In many cases, consumers may find it beneficial simply to visit the primary mortgage company and do the home equity loan through them.

While selecting for debt consolidation mortgage loan you the option for selecting either a mortgage refinancing or home equity loan. Subprime mortgage loan lenders offer a great service to consumers, who would otherwise not have the ability to buy a home or refinance their existing mortgage loans due to bankruptcy or low credit scores. Finding a respectable subprime mortgage loan lender to finance your mortgage loan, 100%, requires researching various loan products.

-Collateral is a property or asset that the borrower pledges to the lender to secure a loan. Another advantage of a second mortgage loan is that the interest you pay back on the loan may be tax deductible. Through the Internet, you can make a survey of the financial market to acquaint yourself of the present mortgage loan deals.

Whatever the reason you are considering a 2nd mortgage home equity loan, they are an easy and flexible product to take advantage of the value built up in your home. Obtaining a bad credit mortgage loan is a good way to decrease your overall monthly payments, which will in time improve your credit record. For loan officers and mortgage brokers looking for exclusive mortgage leads, receiving them over the internet is the way to go these days.

If you do decide to go with a mortgage lead company, look for the mortgage lead companies that sell their leads in 'real time,' this way you will be receiving fresh leads, and you will be able to count on their quality. Most mortgage lead companies will sell their leads up to four times, and some as many as five times. Stay away from lead companies that buy their leads from third party companies than sell them to loan officers at a profit.

If a mortgage lead company is buying their leads in bulk from a third party company and selling them to loan officers at a profit, than that lead company is doing what is known as recycling leads. If they are not obtaining their leads through sites they own and operate on their own, than the leads are not fresh, and you need to move onto the next lead company. Also, look for lead companies that obtain their leads through sites they own and operate on their own.

This is not to say that the lead company does not have good leads to offer, but it would be wise on your part to find out exactly where the leads are coming from to be sure you are getting the best quality leads for your money. If you are a loan officer or mortgage broker and you are on the market for refinance leads, you definitely want to buy them fresh or in 'real time. If selecting to refinance an existing mortgage loan, homeowners apply for a new mortgage, which pays off and replaces the old. Even though a mortgage loan is a secured loan, bare in mind that a past bankruptcy will show on your credit report when you apply for a refinance home loan.

So can you get a mortgage refinance loan with poor credit? If you do get a 2nd mortgage refinance with your bad credit, it is important to make every effort to make your monthly payments on time and in full. The benefit of mortgage refinance is based in not only debt consolidation of other debt, but in getting a lower interest rate, lower pay off, and taking cash out of the home equity. Bad credit mortgage refinancing to pay off high rate debt can be labeled a debt consolidation loan and is only possible if the value of the home being refinanced has appreciated enough so that the home's appraised value will justify a larger loan. A Refinance home mortgage is the best option for those who have a good financial sense and are willing to put their money to good use. Refinance leads are helpful for saving money on the mortgage loan, improving the property against which the refinance loan is being taken, getting faster and ready cash and lower the monthly payments. A variable rate HELOC, where the interest rate and annual percentage rate (APR) can move up or down, depending on the Prime Rate published daily in the Wall Street Journal, is one of two popular second mortgage options, with the other being a home equity installment loan (HEIL). Avail the best out of remortgage or refinance mortgage.

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

Mortgage Foreclosure in Minnesota
1. How is a mortgage foreclosed in Minnesota? In Minnesota there are essentially two ways that a mortgage can be foreclosed. The first way to foreclose is through the process of foreclosure by action. In this process, the mortgage holder files a lawsuit in district court against the homeowner and ... more...

Foreclosure Property
Foreclosure is a legal procedure by which a borrower's rights to a mortgaged property may be ceased because of failure to maintain mortgage payments. The lender can acquire ownership of the property for which the loan was originally issued in case the borrower fails to live up to the obligations ... more...

Foreclosures - Tips and Warnings
First of all, you need to be aware that a mortgage lender can foreclose your home for two reasons. The first one is defaulting on your payments. Generally, lenders will issue a Notice of Default if you miss three mortgage payments consecutively. Another possible ground for foreclosure would be a ... more...

Deed in Lieu of Foreclosure and Second Mortgage - What You Don't Know Can Hurt You
In a deed in lieu of foreclosure, you avoid a foreclosure by giving your property back to the mortgage lender. But what if you have a second mortgage on your property? Is deed in lieu an option? And if it's not, are there problems with foreclosure involving a second mortgage that you should be ... more...