The influential chair of the House Financial Services Committee is ratcheting up the pressure on lenders to write off nearly worthless second liens to clear the way for loan modifications to help homeowners avoid foreclosure.
Home Equity Loans Articles
Many of the people who are in serious financial difficulty with their home loans have both a first and second mortgage. Faced with foreclosure and perhaps even bankruptcy, some may wonder "what if I just stop paying the second mortgage? What's the worst they can do?"
The piggyback 2nd mortgage is a small loan used in tandem with a first mortgage in order to help the buyer of a home avoid out of pocket expenses. Like other somewhat exotic mortgages, the piggyback loan should be used wisely and viewed with a modicum of caution and prudence.
The consumer is the true engine of our economy. The more people buy, the better our capitalist system works. While consumerism works well on a macro level, sometimes people over-extend themselves on the micro-level and accumulate debt. If you need to get yourself out of the red, consider using a home equity loan.
Credit unions are a good option when looking for ahome equity loan. Even if you don't think you qualify to join one because you lack a particular professional affiliation, you may be surprised. Some let you join just because of where you happen to live.
Homeowners in Berkeley, Calif., may soon have access to low-cost financing for energy efficient home upgrades. A proposed city program would allow Berkeley homeowners to pay for the installation of solar panels and solar hot water heaters through their property tax bill.
When the contractor brought you the home improvement estimate, did you almost fall off your chair? Once the dizziness faded, did you take a deep breath and quickly regain your composure? Now you're ready to face the big challenge-where will the money come from?
One of the best ways to add value to your home-and enhance the quality of life inside-is through a home improvement project aimed at sprucing it up or adding amenities. Some of the most popular upgrades also return the highest dollar-for-dollar return on your investment. Remodeling a kitchen, adding a bathroom, or replacing an aging roof, can add equity now, and market value later, if you decide to rent or sell your property. Financing options are numerous, and lenders offer a variety of payment options, rates, and terms.
Realtors refer to a home's ability to make a great first impression as "curb appeal." When people view a handsome house from the street, they're enticed to go in and have a look. Spending money to improve property always increases the chances of getting a higher price in a shorter amount of time. Getting those results is especially important now that the housing market has begun to cool off.
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