Eliminating Compounding Interest with a Second Mortgage

Debt consolidation can be a confusing subject. There are many conflicting views on what a consumer buried in credit card debt should do to get back on their feet. These conflicting views have everything to do with the fact that the best solution is always unique to the individual and if you�re in trouble you should do your homework. The next move you might want to consider is a debt consolidation loan and if you own a house, a home equity loan or second mortgage might be worth considering

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Trendy Mortgage Refinancing and Second Mortgage Programs: A Brief Review

The combination of rising interest rates (although still historically low) and rising home prices has caused the robust mortgage market to slow from its record pace. This has motivated lenders to either introduce creative new loan products or to more aggressively market existing products. If you have not shopped for a in a while, you will find numerous new products from which to choose. Following is a brief review of some of the new and popular products available today.

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Cash-Out Mortgage Refinancing

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…

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Mortgage Refinancing Basics

Your mortgage may have a 30-year term, but not many homeowners stay with the same loan for that long. In fact, the average American refinances his or her mortgage every four years, according to the Mortgage Bankers Association. That�s because paying off your present mortgage and taking out a new one can mean big savings over several years. However, refinancing comes with a price in the short term, so it�s important to consider both the costs and benefits before making your de…

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Things I Learned When I Refinanced My Home

Some days I feel like a home refinancing expert. I�ve refinanced my home twice in the last three years to take advantage of attractive interest rates. Although interest rates have been rising lately, refinancing may still be an attractive option if you�re paying a high interest rate on a mortgage. When my husband and I built a new home in 2000, we felt interest rates were a little high so we opted for a three year mortgage with an 8 percent mortgage rate instead of locking in…

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Reverse Mortgage: A Dignified Way For Retirees To Supplement Income And Take Care Of Expenses

For many Americans reaching the retirement age, the equity build up in their home is their only real asset. Reverse mortgage is a way to tap into this asset and create a stream of income needed for retirement or take care of an unexpected financial need that is usually related to health care costs in the elderly.

Reverse mortgage is not like a refinance, equity loan or a second loan on your home and there are some pitfalls.

So what is a reverse mortgage?
As the term…

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Tips for Mortgage Refinancing and Debt Consolidation

Many people discover that their credit card debt is out of control when they get their monthly bank statement. Mortgage payment, everyday spending, services and occasionally getaways or dining out can bring your balance over-the-limit fees. It�s time to consider debt consolidation to save your money – credit card balance transfer, home equity loan or mortgage refinancing.

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