When you have enough equity in your primary residence, you can obtain a second mortgage as a secured loan using your home as collateral. A new loan will increase your total mortgage debt, but it will also provide you with additional funds for pressing needs such as debt consolidation and home improvement. Because it is secured by the equity in your home, a second mortgage is also known as a home equity loan.
https://securedcapital.com.au/second-mortgages/
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