Mortgage Refinancing Offers Several Benefits
Mortgage Refinancing Offers Several Benefits If you are a homeowner, a question that will surface at some point is ‘should I refinance my house?’. For a homeowner, sometimes it really makes sense to opt for refinancing. However, it is important to understand the implications of mortgage refinancing and you’ll want to be sure to select the type of refinancing which is most appropriate for you. There are certainly advantages of mortgage refinancing. Here are a few… Reduction in the monthly payment One important advantage of mortgage refinancing is that it can lower down your monthly payment amount. The monthly mortgage payment amount can be reduced by extending the term of the mortgage loan from say 15 year to 30 year. The lower monthly...
Read MoreBefore You Begin The Task Of House Hunting…
Before You Begin The Task Of House Hunting… The thought of purchasing a home, especially for first time home buyers, may seem like a daunting task. House hunting is a big job; but the sheer size of the loan itself to obtain a home is enough to give anyone butterflies in the stomach! If you follow a few simple guidelines, you can make working with your banker or mortgage lender to get you the loan you need to purchase the home you desire. Whether you are working through a mortgage banker or another lending institution, here are a few guidelines to help you get started on the right path and not only avoid potential pitfalls, but also will be a great tool if you currently do not qualify for a mortgage loan. Everything Starts with Your Budget Before...
Read MoreSome Tax Deductions for Indiana Homeowners
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Read MoreFrugal Living – How to Use the Internet to Save Money
There are many different ways to save money. We have many tools at our disposal; including the internet. While the internet is full of great (and not so great) money saving ideas; we want to share a few that we’ve come across: 1. Check Out Price Comparison Websites Whether you are planning to purchase a small appliance for your kitchen or a large investment like a car, you can search for reviews and price comparisons online. Even if I want to buy a book from Amazon, I check the reviews first before I put the money into it. 2. Subscribe to Coupon Blogs Each day, I get several emails from different coupon blogs that I have subscribed to. These are kept current daily and give you the best deals on groceries and other items. Sometimes they show...
Read MoreHARP 2.0 – What Is It?
For much of the past year, mortgage rates have been at or near record low points. Unfortunately, many homeowners have been unable to take advantage of these rates due to declining home equity. Many homes have lost significant amounts of value since the housing market peaked in 2006. As a result, many homeowners now owe more on their mortgage than their home is worth (this condition is known as being “underwater” or “upside-down” on one’s mortgage). Homeowners who lack equity in their homes are frequently unable to meet the loan-to-value (LTV) ratios required by lenders in order to refinance their mortgages. These borrowers may be missing out on thousands of dollars worth of savings. In response to this situation, the government...
Read MoreAre You Ready To Refinance?
With mortgage rates hitting new lows, many homeowners are looking to refinance, but is it really in your best financial interest? CNBC’s Sharon Epperson crunches the numbers. Visit msnbc.com for breaking news, world news, and news about the...
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