u/Agitated-Emu-4892

Im trying to get a second mortgage on my property but not sure how can i know whether my first lender is ok with that or not, i tried looking at mortgage documents i have but couldn’t find anything

So ill be calling my bank tomorrow to ask but im curious What happens if a lender finds out you got a second mortgage on your property? Is it usually fine or do they immediately put you in default or do they just ask you to pay off the second mortgage off?

Im trying to get a second mortgage on my property but not sure how can i know whether my first lender is ok with that or not, i tried looking at mortgage documents i have but couldn’t find anything

So ill be calling my bank tomorrow to ask but im curious What happens if a lender finds out you got a second mortgage on your property? Is it usually fine or do they immediately put you in default or do they just ask you to pay off the second mortgage off?

Im trying to get a second mortgage on my property but not sure how can i know whether my first lender is ok with that or not, i tried looking at mortgage documents i have but couldn’t find anything

So ill be calling my bank tomorrow to ask but im curious What happens if a lender finds out you got a second mortgage on your property? Is it usually fine or do they immediately put you in default or do they just ask you to pay off the second mortgage off?

Edit: first lender is cibc, second lender a private lender