Mortgage Payment Protection Insurance The Do’s And Don’ts

When you’ve taken out a mortgage you’ve make a long-term commitment to maintain the monthly repayments for the full duration of the mortgage. That’s going to be over many years but you’re making that commitment without the benefit of a crystal ball � no one knows how your circumstances are going to change, for good or bad. So that must represent a big risk. Mortgage Payment Protection Insurance (MPPI) is one of a range of insurances that includes life insurance and critical i…

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Mortgages. Exit Fees To Be Capped.

In the last 3 to 5 years we have seen rises of up to 450% in the exit fees charged by lenders when borrowers redeem their mortgage. But at last the Financial Services Authority (FSA) ha seen the light and is going to crackdown on these increases.

Lenders have been telling new borrowers about the exit fees currently charged, but the lender has retained the right to increase those charges at any time and without advising borrowers. This amounts to a free hand to increase the…

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How To Choose The Right Mortgage Calculator For Your Needs

Hear about those people who, by adding $50 per month to their mortgage payment cut their loan in half? You can actually do that. Look on the web for a mortgage accelerator calculator.

To start with, a simple mortgage calculator is useful. They let you input the amount of the principal you will be borrowing, the current interest rate, and the number of years to pay off the loan. These calculate mortgage repayments as a fixed amount over a fixed time with a fixed interest r…

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Mortgage Calculators Confusion!

When you first start using a mortgage calculator such as Karl Jeacle’s Graphing calculator, you might easily get confused, especially if you are new to the world of buying property. The sliding scales on this calculator aren’t what some people are used to seeing.

Most people are used to typing their numbers into boxes with familiar features. But don’t be dazzled only by the graph, boxes are still available further down the page so that you can use numbers instead of the sc…

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Cash Out Refinance – Things To Know About Refinancing Your Mortgage To Get Cash Out

A cash-out mortgage allows you to refinance your mortgage and pull out part of your equity. Before deciding how much to cash to use, be aware of the impact of PMI and equity amounts. However, you may find the benefits of refinancing outweigh the costs.

Cash-Out Mortgage Basics

With a cash-out mortgage, you can refinance for lower rates or to just get part of your equity out. Once the refinancing process is completed, you will end up with a check. You can decide to take …

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