Serena

Readvanceable Mortgage Definition.



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A readvanceable mortgage is a type of mortgage loan in which the borrower has the option to “re-advance” or “refinance” the loan at any time, without having to go through the traditional mortgage application process. This can be an attractive option for borrowers who anticipate needing to access additional funds during the life of their … Read more

What is a preferred creditor?



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The preferred creditor is a legal person with a priority right to collection due to the suspension of payments or bankruptcy of the debtor derived from its institutional nature, or because it has some type of guarantee. It is the one with the highest collection rights. Having the preferred label or category is very important … Read more