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Home Equity Line of Credit

By: Art Of Saving Home Loans Views: 1093 | Comments: 0 | Votes: 0

Art Of Saving

A home equity line of credit means a homeowner can use his home as collateral for a loan. In other words, your home can be a source of credit to pay for education, purchase of a car, retirement plans or improvement of home. The bank or the institution will provide you the detailed information as to how you can make use of HELOC. Interest rates are subject to change now and then. More

Home Equity Credit Lines

By: Goldfish Home Loans Views: 1608 | Comments: 0 | Votes: 0

Goldfish

Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways. You will find most loans come with variable interest rates, some come with attractive low introductory rates, and a few come with fixed rates. No one loan is right for every homeowner. and abroad. More

Reverse Mortgages, Cashing In On Home Ownership

By: Goldfish Home Loans Views: 2022 | Comments: 0 | Votes: 0

Goldfish

Many consumers age 62 or older are "house-rich and cash-poor" — their mortgages are paid off, but they are living on fixed or limited incomes. A "reverse mortgage" may allow some consumers to take advantage of their home as a valuable asset and convert it to a source of income without losing home ownership. To qualify for a reverse mortgage, you must own your home. and abroad. More

Cancellation of Private Mortgage Insurance:, Federal Law May Save You Hundreds of Dollars Each Year

By: WiseSaver Home Loans Views: 13332 | Comments: 0 | Votes: 0

WiseSaver

If you put less than 20 percent down on a home mortgage, lenders often require you to have Private Mortgage Insurance (PMI). PMI protects the lender if you default on the loan. The Homeowners Protection Act of 1998 - which became effective in 1999 - establishes rules for automatic termination and borrower cancellation of PMI on home mortgages. For these loans, your PMI may continue. More

How To Get A Commercial Mortgage Today

By: Art Of Saving Home Loans Views: 1061 | Comments: 0 | Votes: 0

Art Of Saving

A loan in which real estate is used as collateral - a guarantee that the loan will be repaid and on time - is usually called a commercial mortgage. While it is much like a residential mortgage, the difference is simply that the collateral and the building purchased with the mortgage is used for commercial rather than residential purposes. More

Mortgages - Pay What You Can Afford

By: Art Of Saving Home Loans Views: 1200 | Comments: 0 | Votes: 0

Art Of Saving

A lot of people find the idea of dealing with all of the problems attached to buying a home very daunting. This is important but there are also many other things that you need to take into account. This is probably not the best way to go about it. A far better approach would be to sit down with a calculator and figure out exactly what you can afford to spend. More

Understanding Private Mortgage Insurance, PMI

By: Frugal World Home Loans Views: 2240 | Comments: 0 | Votes: 0

Frugal World

Relative to the growth in home prices over the last few decades, Americans are earning less and therefore they are saving less. PMI is a financial guaranty that protects the lender against any loss in the event the borrower should default as well as allowing the borrower to make a lower down payment. Such mortgages are increasingly in demand in today's home market. More

National program assists low-, moderate-income home buyers

By: Inman News Home Loans Views: 1104 | Comments: 0 | Votes: 0

Inman News

NeighborWorks campaign generates $5.39 billion in new loansInman NewsA national campaign that seeks to bring home ownership within reach for low-income and moderate-income families has generated more than $5.39 billion in new mortgage lending from Jan. About 22 percent of the campaign's recent home buyers are African-American. 137. Reprinted with permission of Inman News More

The rent-back offer, Buyer's Corner

By: Trmnotary Home Loans Views: 984 | Comments: 1 | Votes: 0

Trmnotary

What exactly is a "Rent-Back" offer, and when should they be used? In most real estate transactions, the buyer takes possession of the property at or shortly after closing. A rent-back is an offer made by the prospective buyer to allow the seller to remain in possession of the home for a longer period of time. More

FICO - How your score affects you

By: WiseSaver Home Loans Views: 1200 | Comments: 0 | Votes: 0

WiseSaver

Throughout the years, mortgage rates have varied by loan-to-value and by term only. Items such as mortgages and variation in credit risks were not taken into consideration. A variation in interest rates was typically due to an additional charge for mortgage insurance (PMI) for home loans with loan-to-values greater than 80 percent, or higher rates due to the length of amortization. More