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Is a second mortgage done here in the Philippines?

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Mc2012


Arresto Menor
I basically purchased a new H&L from a developer and am currently paying it off via a bank loan. Now, I need some cash for some big purchases I have planned--- is there a type of loan (like a second mortgage?) available that can be secured using this property as collateral? The amount I need is just basically 20% of the value of the H&L that I have mortgaged in the bank.

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