125% Home Equity Loans
Home equity loans are second mortgages and involve borrowing money against a home's equity. In most cases, homeowners obtain loans that correspond with their home's equity. However, it is possible to acquire a second mortgage for more than a home's worth.What is the 125% Home Equity Loan?The 125% ...
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Deducting Points On Home Refinances
Deduction of Refinance PointsAny points that you pay in the refinancing of your residence are tax deductible over the length of the loan in question. The deduction is allowable only if the residence is your primary home and the new mortgage replaces a previous one and/or is used to improve the ...
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Debt Relief From Debt Consolidation
If you are up to your neck in debt, there may seem like there is no relief in sight. In fact this is not necessarily the truth. There are ways to take all of your stifling bills and roll them up into one neat package by using debt consolidation in two very popular forms Home Equity Loans, ...
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No Deposit Home Loans
A few years ago, many of us would have had a light chuckle to ourselves if someone mentioned that you could borrow money to buy a house with only the promise of solid future earnings. But today this is a regular occurrence. Many of the industrys non-conforming lenders are selling these financial ...
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Total Cost Of Credit vs Monthly Payments
I read a press release the other day which points to the fact we need to be very careful with our finances. The subject of the release was home mortgages. A company was announcing the availability of 40 year mortgages for its customers. The stated purpose was to lower the monthly payments ...
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Do You REALLY Need a Home Equity Loan?
Your equity is the amount your home is worth, on the market, minus the amount you owe to your mortgage broker. For example, if your property is worth $200,000 and the balance you owe your mortgage broker is $100,000, then your home equity - the part of your property that you own free and clear - is ...
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Home Equity Line of Credit Pro and Cons
Home equity line of credit pro and cons are important if you decide to tap your equity in your home. Whether you are choosing a home equity loan vs equity line of credit, each loan is considered a second loan and is secured by your home.Here are some home equity line of credit pro and cons to ...
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Budgeting Tips to Save Real Money
Sticking to a budget can be difficult, but with so many demands on your finances you have to be extra cautious. TV ads are constantly bombarding the airwaves with messages that you need to buy this or you must have that. Usually, if you just wait a week or two, the urge to buy that new gadget ...
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Why Get a Home Equity Loan?
If you're a homeowner, chances are that you've been deluged with offers from finance companies to lend you money based on the equity you have invested in your home. A home equity loan is a loan extended to you that is secured by your home. The amount of the loan is based on how much 'equity' you ...
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Home Equity Loans - How To Use Your Home's Equity to Consolidate Debt
If you've got a wallet full of credit cards, and monthly payments on them that total more than 25% of your monthly income, chances are that you've considered debt consolidation loans or some other means of taming your credit card debt. But did you know that a home equity loan is another way to get ...
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Credit Scores and Loan Applications
Keep Your Credit History Clean - Remove A Negative Credit Record From Your Credit ReportIt can make a difference of up to 18% in loan repayment costs.
For example, on a 30-year, $150,000 fixed rate mortgage, a borrower with the best credit score, 760-850, will pay 5.59%, or $860 per month, while ...
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Composite Credit Report Score Simplifies Mortgage Issues
Do you want a mortgage loan for your new home? Trying to qualify for a new mortgage can be very tough, especially if you arent aware of the effect your credit report score has on your ability to get approved for loans. One of the first things a lender looks at to determine your suitability for a ...
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