6 October 2006
Approving loans for consumers is the bread and butter of mortgage companies, which exist to land-shall we say-plenty of bread.If you understand how the loan process works, you can prepare in advance and have a speedy and headache-free refinance.
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4 October 2006
Many homeowners who have enjoyed the convenience and savings of a home equity line of credit (HELOC) aren't enjoying the consequences of rising interest rates.As a result, many are now turning to fixed rate equity loans instead.
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3 October 2006
Jumbo mortgages are used to purchase high-priced homes that require larger than normal loans.While they're convenient, they also charge slightly higher interest rates.Since the dollar amount that defines a jumbo mortgage is redefined each year, it's subject to change.
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27 September 2006
If you're discouraged because your bad credit seems to present an insurmountable obstacle to owning a home, don't be.There are many financing options available to you, once you understand the sub-prime mortgage marketplace.
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25 September 2006
With interest rates rising, there's no time like the present to get your financial ducks in a row in order to save money.Back when rates were still cheap, home equity lines of credit (HELOCs), with their low introductory adjustable rates, were the preferred way to go.
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21 September 2006
One of the smartest ways to add value to your home is to spruce it up with a quick makeover.And if you plan to sell your house, such a strategy can pay off in a higher sales price and a shorter time on the market.
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19 September 2006
Nowadays, there are many mortgage programs with complex bells and whistles.But one of the oldest and most sensible programs is the bi-weekly mortgage payment plan.
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1 September 2006
Housing costs have ballooned during the past few years.Even if they come back to earth, buyers are still facing challenges when trying to secure manageable mortgages.To meet the demand, mortgage lenders have begun offering longer amortization schedules, including 40- and 45- year mortgages.
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28 August 2006
The Captain and Tennille, pop stars from the 70s, had a big hit with their catchy ditty "Shop Around." For homeowners who want to refinance, that song is just as applicable to picking a mortgage lender as it was to finding Mr.or Ms.Right.
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28 August 2006
Rising interest rates tend to restrict the lending options of homeowners.When rates spike, 15- and 30- year loans become less attractive.
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28 August 2006
If money talks, then most homeowners wish those lovely little greenbacks would tell them exactly how much money they should borrow when refinancing a home.Unfortunately, your cash won't give you any hints about how big or small your mortgage loan should be.
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28 July 2006
Small business owners and entrepreneurs sometimes get sweaty palms when faced with the challenge of making a convincing presentation to bank officers or private investors in order to get needed investment capital.Competition for funds is fierce.
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28 July 2006
If you find yourself in a cash crunch, you may choose to tap into your home's equity to find much-needed funds.A mortgage loan that allows you to pay back interest only during the first few years can be beneficial if you find yourself in this situation.
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28 July 2006
Although you may have knowledge and experience regarding how to shop for a traditional first or second mortgage, browsing around for a home equity line of credit (or HELOC) is a loan of a different color.
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28 July 2006
Refinancing fever hit its peak a few years ago because of rock-bottom rates.Now, the fever is back; but this time, it's because rates are rising steadily.Many people have already refinanced their first mortgages.
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28 July 2006
If you're on the prowl for cash, you may have considered borrowing from your 401(k) plan.Many financial planners would encourage you not to touch your nest egg, and for good reason.
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28 July 2006
There are plenty of ways to tap the equity of your home, but not every one is the right option for you.The choice may automatically be made for you once you take a careful look at your borrowing options.
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28 July 2006
Home equity loans are great financial tools.However, if you abuse them, you may find yourself on a bridge over troubled financial waters.Here are four common mistakes people make that can cause serious problems.
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28 July 2006
If you're buying a new home, you may need to sell your existing one in order to finance your new purchase.Not everyone has enough money to straddle two pieces of property.
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28 July 2006
One of the biggest headaches in the loan application process is producing verification documents for your lender.Borrowers are asked to provide proof of employment, income, assets…the requirements can go on and on.
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