tag:blogger.com,1999:blog-28360368021438082532011-11-27T18:13:56.693-05:00Information you need if you are searching for: Home Refinancing, No Cost Refinancing, Home Equity Poor Credit, Home Loans Poor Credit, Bad Credit Mortgage Refinance, Fixed Home Equity Loan, Equity Home Line Rate, Equity Rates, Equity Loan Rates, Second Mortages, 2nd Mortgages, and anything related to your property and loans.Tom Donaldsonnoreply@blogger.comBlogger101100tag:blogger.com,1999:blog-2836036802143808253.post-51324213316231136892007-06-04T06:26:00.000-04:002007-06-04T06:29:22.197-04:00

Don't: Agree to a home equity loan if you don't have enough income to make the monthly payments. Sign any document you haven't read or any document that has blank spaces to be filled in after you sign. Let anyone pressure you into signing any document. Agree to a loan that includes credit insurance or extra products you don't want. Let the promise of extra cash or lower monthly payments get in

Tom Donaldsonnoreply@blogger.com0tag:blogger.com,1999:blog-2836036802143808253.post-19570436382576682292007-06-04T06:16:00.000-04:002007-06-04T06:18:07.738-04:00

Suppose you've had your mortgage for years. The interest rate is low and the monthly payments fit nicely into your budget, but you could use some extra money. A lender calls to talk about refinancing, and using the availability of extra cash as bait, claims it's time the equity in your home started "working" for you. You agree to refinance your loan. After you've made a few payments on the loan,

Tom Donaldsonnoreply@blogger.com0tag:blogger.com,1999:blog-2836036802143808253.post-51057658674223359042007-06-04T06:15:00.000-04:002007-06-04T06:16:36.416-04:00

You've fallen behind in your mortgage payments and may face foreclosure. Another lender offers to save you from foreclosure by refinancing your mortgage and lowering your monthly payments. Look carefully at the loan terms. The payments may be lower because the lender is offering a loan on which you repay only the interest each month. At the end of the loan term, the principal-that is, the entire

Tom Donaldsonnoreply@blogger.com0tag:blogger.com,1999:blog-2836036802143808253.post-27171891906410759142007-06-04T06:10:00.000-04:002007-06-04T06:12:07.571-04:00

Do you own your home? If so, it's likely to be your greatest single asset. Unfortunately, if you agree to a loan that's based on the equity you have in your home, you may be putting your most valuable asset at risk. Homeowners-particularly elderly, minority and those with low incomes or poor credit-should be careful when borrowing money based on their home equity. Why? Certain abusive or

Tom Donaldsonnoreply@blogger.com0tag:blogger.com,1999:blog-2836036802143808253.post-57870971243325147372007-06-04T05:29:00.000-04:002007-06-04T05:38:17.977-04:00

A home equity loan is a revolving line of credit based on the equity held in a property. Equity is the cash value of a property or business minus any amounts owed on it in mortgages, claims, liens, etc. An equity loan is secured by that cash vakue. The loan can be both fixed interest or variable rate. Sometimes this type of loan is called a second mortgage.

Tom Donaldsonnoreply@blogger.com0tag:blogger.com,1999:blog-2836036802143808253.post-65012135881293608522007-06-02T06:24:00.000-04:002007-06-04T06:30:27.358-04:00

If you are having trouble paying your mortgage and the lender has threatened to foreclose and take your home, you may feel desperate. Another "lender" may contact you with an offer to help you find new financing. Before he can help you, he asks you to deed your property to him, claiming that it's a temporary measure to prevent foreclosure. The promised refinancing that would let you save your

Tom Donaldsonnoreply@blogger.com0tag:blogger.com,1999:blog-2836036802143808253.post-22764734859894068922007-06-02T06:22:00.000-04:002007-06-04T06:35:37.340-04:00

After you get a mortgage, you receive a letter from your lender saying that your monthly payments will be higher than you expected. The lender says that your payments include escrow for taxes and insurance even though you arranged to pay those items yourself with the lender's okay. Later, a message from the lender says you are being charged late fees. But you know your payments were on time. Or,

Tom Donaldsonnoreply@blogger.com0tag:blogger.com,1999:blog-2836036802143808253.post-60174288625873190802007-06-01T06:20:00.000-04:002007-06-04T06:30:53.860-04:00

You've just agreed to a mortgage on terms you think you can afford. At closing, the lender gives you papers to sign that include charges for credit insurance or other "benefits" that you did not ask for and do not want. The lender hopes you don't notice this, and that you just sign the loan papers where you are asked to sign. The lender doesn't explain exactly how much extra money this will cost

Tom Donaldsonnoreply@blogger.com0tag:blogger.com,1999:blog-2836036802143808253.post-75893922593917402322007-06-01T06:18:00.000-04:002007-06-04T06:32:30.715-04:00

A contractor calls or knocks on your door and offers to install a new roof or remodel your kitchen at a price that sounds reasonable. You tell him you're interested, but can't afford it. He tells you it's no problem-he can arrange financing through a lender he knows. You agree to the project, and the contractor begins work. At some point after the contractor begins, you are asked to sign a lot of

Tom Donaldsonnoreply@blogger.com0tag:blogger.com,1999:blog-2836036802143808253.post-64538321367582123642007-05-31T06:12:00.000-04:002007-06-04T06:34:34.998-04:00

You need money. You don't have much income coming in each month. You have built up equity in your home. A lender tells you that you could get a loan, even though you know your income is just not enough to keep up with the monthly payments. The lender encourages you to "pad" your income on your application form to help get the loan approved. This lender may be out to steal the equity you have

Tom Donaldsonnoreply@blogger.com0