 TITLE: What Is a Second Mortgage? CONTENT: Bottom Line: It Depends\n-----------------------\nA second mortgage can be a powerful tool for accessing cash to meet your needs and accomplish your goals. Compared with an unsecured personal loan, a second mortgage may allow you to borrow a larger amount and get it at a lower interest rate—depending on the amount of equity you've accrued in your home.\nAs long as you are confident you can cover your payments, a home equity loan or HELOC can be a great vehicle for taking advantage of the wealth you've built up in your home. END