Why would co-signers on house loan ask us to put 2nd mortgage on our house?

ok so my husband and I just refinanced our loan in October and still needed a co-signer.We just do not have that great of credit yet. But, we have decided we want to move and rent again, found a better house Of course we wrote out a contract to cover ourselves and our co-signers asked if we would sign something stating that we wish to take out a second mortgage on the house. Long story short why would they ask us to do that?
please do not be rude about it….

Register New Account
Reset Password