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Remortgage
REMORTGAGE

Definition: A second mortgage arranged on your house or apartment, or an increase or change in the first one.
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* All six elements should be in.


1. Purposeful and necessary (to emphasize).

2. First mortgage is being properly serviced.

3. Terms or conditions will be favourable, or exactly as desired, especially for the mortgagor.

4. No unplanned loss will arise from second arrangement.

5. Second arrangement serves purpose(s) (connect to #6).

6. No default will occur in respect of servicing new improved mortgage.
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