Need Cash? Community Trust's 2nd Mortgages Keep Your Low Rate Locked

In the world of lending, second mortgages are the middle children—often overlooked. Few federally regulated lenders even sell second mortgages, but Community Trust Company (CTC) is one of them.

The company recently announced that it expanded the list of lenders it lends behind. CTC now offers second mortgages to customers of most banks, credit unions and monolines. At a time when seconds are as popular as they have been in years, that's meaningful.

Are more accessible seconds really that big of a deal?

Well, yes, if you're someone who needs to borrow against their home and:

• Doesn't want to break their low-rate first mortgage and refinance
• Can't qualify for a new first mortgage or prime HELOC
• Doesn't want to pay higher rates from unregulated competitors, or
• Doesn't trust private lenders.

For folks like these, CTC may be just the ticket.

Here's how (and why) its 2nd mortgage works...