Category Archives: lower monthly payments
There’s some relief coming from the Obama administration for home owners who ower more on their properties than their homes are worth.
This article describes the advantages and perils associated with refinancing.
For some homeowners there is the possibility of making a sound refinancing decision even when interest rates are stagnant, the homeowner does not have a great amount of equity in the home and the homeowner’s credit score has not increased significantly. You might wonder how this is possible
Summary: There are three types of home equity loans, the refinancing, home equity loan, and home equity line of credit that you can choose from whatever is best for you.
Interest only mortgages are a relatively new phenomenon in the re-financing industry as well as the home buying industry. While the appeal of an interest only mortgage is typically a greater monthly cash flow, this increased cash flow can come with a hefty price tag.
If you have at one time or another bought a home, then you probably heard of the term “refinance.” But what is refinance, exactly?
Refinancing is a term in the finance industry that refers to the process of paying off a current or present loan with a second loan. If the situation is right, refinancing can be very beneficial for those who engage in it.
Some homeowners opt to re-finance to consolidate their existing debts. With this type of option, the homeowner can consolidate higher interest debts such as credit card debts under a lower interest home loan.
The key to understanding whether or not re-financing with a home equity line of credit is worthwhile involves understanding what a home equity line of credit is, how it differs from a home loan and how it can be used.
Whether or not to re-finance is a question homeowner may ask themselves many times while they are living in their home. Re-financing is essentially taking out one home loan to repay an existing home loan.