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Refinancing To Get Cash, Not Save It

By: Kenneth R. Harney Home Loans Views: 2822 | Comments: 0 | Votes: 0

Kenneth R. Harney

Remember when you refinanced your home mortgage to get a lower interest rate and pay less every month?How quaint. And how utterly out of date. The 88 percent cash-out refinancing rate was close to the all-time record and could surpass it later this year.Meanwhile, the typical refinancer hasn't been scouring the market for an interest rate lower than that on his existing first mortgage. More

Credit bureaus increase price of reports

By: Kenneth R. Harney Home Loans Views: 2173 | Comments: 0 | Votes: 0

Kenneth R. Harney

Home buyers and refinancers face higher fees for credit reports this year – a price boost that has mortgage, credit industry and consumer group leaders fuming. Some believe that the higher fees will have an inordinately heavy impact on moderate-income and minority first-time mortgage applicants who have nontraditional credit patterns, marginal credit scores or “thin” credit files. More

Rent versus Buying in this market

By: Art Of Saving Home Loans Views: 989 | Comments: 0 | Votes: 0

Art Of Saving

Rent versus Buying in this market: Nearly a full third of households are still renting...but if you are one of them, you could be paying a hefty price. Is there a "bubble"? The simple answer is "no". Even if interest rates move a bit higher, it won't be enough to cause a nationwide slide in home prices. The key to a healthy housing market is the job market. But is it too late? More

Home Equity Line of Credit

By: Art Of Saving Home Loans Views: 2384 | 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

The Biweekly Mortgage Scam

By: Goldfish Home Loans Views: 2766 | Comments: 0 | Votes: 0

Goldfish

One of the popular ways to save money on mortgages is to use what is known as the biweekly mortgage payment plan. With the biweekly mortgage payment plan the borrower makes payments on his mortgage every two weeks, instead of once a month. The biweekly payment is one-half of the monthly payment. There is no doubt that this will save you money. This seems astounding! Doesn't it? More

Refinance Mortgage Potential Pitfalls

By: Academix Home Loans Views: 2244 | Comments: 0 | Votes: 0

Academix

There has been a lot of talk about mortgage refinancing over the last couple of years. One thing that you need to bear squarely in mind when considering doing this is that you must be prepared to pay your costs at closing. This is very similar to what happened when you initially purchased your home. Any money owing for this service will usually be paid at the point of settlement. More