A second mortgage allows homeowners with an existing mortgage to borrow against the equity they’ve accrued in their property. Whether you prefer a lump-sum mortgage loan or the benefits of a home equity line of credit (HELOC), the uses of a second mortgage in Toronto are practically endless. Still, there are some uses that are more practical and popular than others. We’re here today to inform you of the most common reasons for people to take second mortgages out on their homes.
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