What Are Some of the Reasons to Apply for Private Mortgage Financing?

What if your credit is damaged? Owning a home does allow those who may have poor credit or reduced income to take out second mortgages for a number of financial objectives. Reasons to take a second mortgage can include the need to pay off existing debts, pay for any much-needed renovations, pay off legal fees or arrears if in mortgage default, and other pressing financial reasons.