28 July 2006
Knowing your mortgage options can only help your decision-making.When it comes to mortgage loans, understanding how the products work not only makes deciding on a loan easier, it can save you thousands of dollars.
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12 July 2006
Credit card debt, regardless of how it is accumulated, is considered bad debt.Student loans, which are low interest, and increase your earning power, are considered good debts.
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11 July 2006
Interest-only loans have helped many buyers purchase more real estate than they may have been able to handle otherwise.They accomplish this by offering lower monthly payments and higher tax deductions.But many homeowners are now facing the interest-plus-principal phase on their interest-only mortgages.
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10 July 2006
Many homeowners wonder whether they can refinance their loans to lock in lower rates before interest rates climb higher.And because some borrowers have loans that include stiff penalties for early repayment, it may not seem like a viable option.
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30 June 2006
The FICO credit scoring system has traditionally been the single most important decision-making tool for lenders.Now, Experian, a major credit bureau, has launched a new credit rating system called VantageScore.
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30 June 2006
When you receive an unexpected windfall or bonus, it makes sense to pay off a major debt, such as a first or second mortgage.Some borrowers automatically elect to pay off the second, because it's smaller.
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30 June 2006
Life costs money.Kids, the mortgage, cars, food, that darn cable bill-expenses are a part of everyone's lives.Unfortunately, there will be times when those expenses tend to outweigh the income, and a short-term cash crunch may be a problem.
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27 June 2006
A few years ago, when you opened your home equity line of credit (HELOC), you thought you'd found the perfect financial tool.With a flexible line that you could tap when you needed, it seemed like the ideal way to take care of short-term debts.
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27 June 2006
When it comes to multi-tasking in this post-modern age, mortgages defy conventional wisdom: Two is not necessarily better than one.If you're growing weary of juggling loans along with everything else life throws at you, refinancing to combine your mortgages might be a timely option.
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26 June 2006
Debt can happen quickly.A few trips to the mall, some purchases over the Internet, and a couple of large household expenses sandwiched in-between, and you're in the red.
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26 June 2006
A home equity line of credit-known by mortgage pros as a HELOC-is a good way to borrow, especially for those who want streamlined loan applications and lower origination fees.But HELOCs are tied to the prime rate, and adjust accordingly.
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16 June 2006
Many kinds of debt could be paid off with a cash-out mortgage refinancing, giving you better terms and a lower overall interest rate.It's particularly useful if your current financial situation is tight, or your debt has high interest rates.
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16 June 2006
The 125 percent home equity loan, which allows you to borrow more money than your home is actually worth, could leave you unable to sell your house and locked into a high interest rate loan.
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14 June 2006
Someone, somehow, somewhere came up with a rule that the only time you should refinance your mortgage is when interest rates drop 2 percent below your loan's current rate.
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14 June 2006
Summer is everyone's favorite time for reading, traveling, and home improvement projects.A wise way to manage financing the latter is to tap into your accumulated home equity.
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12 June 2006
Paying points to lower the interest rate on a loan can be a great idea, especially if you're considering staying in your home for an extended period of time.
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11 June 2006
There are many conditions that can make the time right for a mortgage refinance.Generally, it's a combination of current interest rates and/or your personal financial needs.
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8 June 2006
Getting a mortgage rate quote allows you to shop confidently for a home, knowing that you will be able to afford your purchase.There are different types of mortgage rate quotes, with varying amounts of accuracy.
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7 June 2006
Refinancing a mortgage can be an excellent financial decision.If the interest rate that you are currently paying is higher than the current interest rate, you may want to look into refinancing your mortgage.
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7 June 2006
For someone in search of a new career, becoming a mortgage broker can be an excellent choice.Mortgage brokers are responsible for matching up prospective home buyers with suitable mortgage lenders.
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