When Should You Refinance Your House?
Helpful Information On Reverse Mortgages
A simple guide from financial experts, you should not refinance your house unless the market rates are approximately two percent below your original mortgage lock in rate. Read this article to get more information on when is the best time to refinance your house.
Cash-Out Mortgage Refinancing
Helpful information on reverse mortgages: advantages & disadvantages.
The Source Of Mortgage Money
Your house is a potentially large source of ready money if you are willing to sacrifice some of your equity in return for liquidity. Cash-out mortgage refinancing is one way to access this cash.
What is cash-out mortgage refinancing?
Cash-out refinancing involves refinancing your mortgage for more than you currently owe and pocketing the difference. If you have been paying down your mortgage for some time, then the principal on your mortgage is likely to be substantial…
Save Thousands by Prepaying your Mortgage
Where does mortgage money actually come from? When you get a $500K mortgage, who actually writes the checks? Most people have no idea. Does it come from a bank? Does it come from the government or some large quasi-governmental agency like Fannie Mae or Freddie Mac? It all seems so confusing and the numbers are so big that they become abstract. But an understanding of where the cash comes from is the first step to understanding how the mortgage industry operates.
You can ef…
Why Get a Home Equity Loan?
Sometimes you may find yourself with extra money at the end of the month or have unexpected income.
And you may consider destining that surplus to paying off your mortgage sooner…
Types of Home Equity Loans
If you’re a homeowner, chances are that you’ve been deluged with offers from finance companies to lend you money based on the equity you have invested in your home. A home equity loan is a loan extended to you that is secured by your home.
Reverse Mortgages Funding Retirement
Home equity loans are a way of using the money that you’ve invested in your mortgage by borrowing against it. Essentially, a home equity loan is a ‘second mortgage’ – a loan secured by your property. If you don’t make good on your payments, the lending company or bank can force the sale of your house to recover their money.
Borrowers facing problems with the Mortgage Industry
With people living longer and longer, funding retirement can become a stressful situation. Reverse mortgages can help home owners avoid worries about cash flow.
Knowing About Mortgage
According to the National Mortgage Complaint Center, the number of fraud cases in the mortgage has increased over the recent years. Mortgage companies have been using false documents and getting them signed by borrowers. Many of them have even charged high interest rates and borrowers have been making such high interest payments due to lack of awareness on recent market trends.
You can know about mortgages and various interesting way in which mortgages can be selected for best financial deals.