Fixed Home Equity Loans

Can I transfer an existing home equity loan, attached to my current residence to a new residence?

admin — Thu, 23 Feb 2012 00:01:13 +0000

I took a home equity loan out a while ago and in this market, my equity has dropped considerably.

If I were to sell my home, I could pay off my 1st mortgage, but I’d still have a balance of about ,000-,000 on the 2nd mortgage. Do lenders transfer 2nd mortgages to a new home?

New American Funding’s In Depth Look at the FHA 203(k) Home Improvement Loan

admin — Wed, 22 Feb 2012 08:22:09 +0000

www.NewAmericanFunding.com http www.twitter.com www.linkedin.com Did you know 59% of distressed real estate being sold today is being purchased by investors? Why? Because they can buy these homes at a discount, they can fix them up and they can flip them the first time they move up buyers for tens of thousands of dollars in profit. My name is Rick Arvielo and I’m here to talk to you about an amazing opportunity that exists right now that a lot of people are missing out on. We can loan you the money to buy the house and loan you the money to fix it up. I’m going to give you some real anecdotal evidence about how this works. This a real house in San Diego. The value fixed up would be about 0k. the house is listed at about 320, but it’s a dog. It’s the worst house on the block. So, nobody’s buying the house, because nobody can see past the muck of the house. That house right now is listed at 320k even though it’s worth about 350, there’s no takers. You could buy that house today for about 260. The bank isn’t in the business for fixing up houses. So you can pick that house up today for about 260. We’ll loan you the money to buy the house. We’ll loan you the money to fix it up. 30, 35k dollars, you’ve got brand new carpet, brand new flooring, paint on the walls, fixed up cabinetry, granite countertops, replaced roof shingles, spruced up yard. The next thing you know, you’re into this house for about 280, 290, the house is worth 350k. You’ve got 10 to 15% equity in your …

Bird Feed Fail

admin — Fri, 17 Feb 2012 08:21:03 +0000

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3.99% Fixed Rate Mortgage

admin — Sat, 11 Feb 2012 20:22:15 +0000

DO YOU WISH YOU HAD 0S EXTRA TO SPEND ON THE YOUR KIDS AND YOURSELF EVERY MONTH?? Instead of waisting 0s of dollars a month in minimum payments on your credit cards to stay above water, refinance your mortgage and consolidate your debts with a new low rate of 3.99%. Call my office at 416-915-5500 for a candid assessment. Arash

Please explain Compound Interest

admin — Mon, 06 Feb 2012 08:21:23 +0000

Phil Strong answers the request “Please explain Compound Interest.” Get more details at: philstrong.com

Refinance with FHA loan?

admin — Thu, 02 Feb 2012 00:02:07 +0000

Ok here is the situation.. going to try and make it as short as possible. My husband went to our mortgage company (Litton) to see about doing a refinance for a ,000 loan (to pay off a vehicle and some other bills). We have a lot of equity in our home, as it was a remodel. They referred him to Avelo for the refinance. Basically the interest rate will drop only half a percent, our monthly payments will be lower than our mortgage plus car payment right now, and everything is supposed to stay the same (as far as being a fixed rate with no prepayment penalty). There will be closing costs, I’m not exactly sure how much. The thing is, they want us to pay a 0 deposit for the inspection and other fees they incur in starting the process. I’m just not having a good feeling about all of it. What do you think, is this a smart move? Should we try for a home equity loan instead? We are really trying to get our monthly payments down. Also, he said he needs to lock in today, because of rates?
Here is a better solution: Both of you work a part time job of 15 hours per week and have the ENTIRE proceeds of that extra job go towards that ,000.

If I got a job, instead of taking classes online, I would be working to pay entirely for daycare. Just saying…
I didn’t have a good feeling about it anyway, thanks for the advice though. We technically don’t have to do anything, we are still able to make our monthly payments. Were just trying to make it easier on my husband month to month. Thanks!

How do I reduce my mortgage faster?

admin — Tue, 31 Jan 2012 20:21:35 +0000

Today’s video Phil answers this question – quite a common question submitted by Phil’s readers. You can access the full post here and get your free videos. philstrong.com

The Money Store commercial (1992)

admin — Thu, 26 Jan 2012 20:21:30 +0000

The Money Store Fixed Rate Home Equity Loan commercial (1992)

It is hard to refinace your home even with millions in equity for retirees on fixed income for 300k?

admin — Tue, 24 Jan 2012 01:26:02 +0000

Finacing / refinacing rules are so much out of line that one who has million in home equity and more in investments cannot refinance a mere 0,000 Mortgage loan if he is retired and has fixed income. Why?

Loan rates for cars Loan rates 30 year fixed

admin — Sun, 22 Jan 2012 08:21:42 +0000

Mortgage Refinance Information Prior to scouting out mortgage refinance loans, any potential borrowers should first review their current mortgage note. The first thing that you need to look for is a prepayment clause. Most home loans include some form of prepayment penalties for paying your home loans off early. Homeowners that have a first and second mortgage could also end up being slapped with steep prepayment penalties; which would go a long way towards negating the savings that would be obtained through refinancing. Many mortgage refinance financial lenders tend to prey upon the idea of utilizing the equity that has been built up in your home in order to pay off your credit cards. Others will actually just combine this with some sort of a cash-out pitch. While this at first may seem tempting, it is not actually the best idea. Even though the home refinance loan rates may end up being lower, and you very well may end up with some extra money each month, over the long run you are going to be paying more in terms of interest charges because you are paying the refinance home back over such a long period of time (most people get a mortgage refinance with a 30 year term). Besides that, even after you are able to free up that additional money each month using a mortgage refinance, it does not really provide you with much good unless you are going to put it into some sort of savings account. Otherwise you are still going to be just living from paycheck to paycheck. Also, if …