|
|
|
5 Things In Selecting The Best Mortgage - You Should Know
Your goal is not only to find the best rates and programs, by searching through a huge number of lenders products, and save yourself thousands of dollars on mortgage payments every year, but also, to save time and hassle by simplifying the loan...
Honey, I Eliminated The Mortgage Interest Deduction - Plan 2
A bipartisan committee has made two recommendations to President Bush regarding tax reform. In this article, we take a look at the second option.
Tax Reform
A year ago or so, President Bush decided to spend his political capitol on tax reform...
Mortgage Terms and Definitions
The mortgage process can be a little confusing if you aren't familiar with the terms used in the process. To help you out, here is a list of terms with corresponding mortgage definitions.
Broker: An independent mortgage professional that oversees...
Mortgages - How Much Are You Really Borrowing?
How much are you paying back?
When considering a mortgage do you consider all of the right questions, for example do you consider which bank is best because of their reputation or do you instead look solely at the interest rate tables, do you look...
Search our wide range of Mortgage Network for the Best Broker
Kansasmtgloans welcomes you to the hassle free way shop for mortgage loans online. Kansasmtgloans.com serves as a complete financial brokerage offering a streamlined mortgage shopping process to find you best mortgage programs as per your specific...
|
|
| |
|
|
|
|
|
|
Mortgage Refinance Quote Offers Flexibility to Homeowners
Over the past several years, the housing market in the U.S. has
boomed. Homeowners have watched their home equity balloon as
housing prices have soared. In many areas in the U.S., modest
homes purchased as recently as seven years ago have doubled or
tripled in value. During that same period, interest rates dipped
dramatically, allowing a homeowner to obtain a mortgage
refinance quote. In refinancing, homeowners lowered monthly
payments and often withdrew a portion of their home equity - via
home equity loans and home equity lines of credit - to make
purchases or pay down consumer debt with higher interest rates.
In a speech given in October 2004, Federal Reserve Chairman Alan
Greenspan said, "Despite average annual mortgage debt growth in
excess of 12 percent over the past two years, the financial
obligations of homeowners have exhibited little change as a
share of their income because mortgage rates have remained at
historically low levels. The enormous wave of mortgage
refinancing, which ended only in the fall of 2003, allowed
homeowners both to take advantage of lower rates to reduce their
monthly payments and, in many cases, to extract some of the
built-up equity in their homes. In the aggregate, the cash flows
associated with these two effects seem to have roughly offset
each other, leaving the financial obligations ratio little
changed."
Greenspan continued, saying, "Indeed, the surge in cash-out
mortgage refinancings likely improved rather than worsened the
financial condition of the average homeowner. Some of the equity
extracted through mortgage refinancing was used to pay down
more-expensive, non-tax-deductible consumer debt or to make
purchases that would otherwise have been financed by
more-expensive and less tax-favored credit."
According to the Federal Deposit Insurance Corporation (FDIC),
historically low mortgage rates caused record numbers of
homeowners to obtain a mortgage refinance quote and to sign on
the dotted line to refinance their mortgages at lower rates. In
a recent report, the FDIC said, "As mortgage rates bottomed out,
refinancing volumes peaked in June 2003, but they have fallen
sharply since then...Indeed, the Mortgage
Bankers Association
recently forecast that the dollar volume of refinancings would
decline 57 percent in 2004 from a record $2.5 trillion in 2003."
More homeowners are seeking a mortgage refinance quote to
obtain a home equity line of credit (HELOC). According to the
FDIC, these lines of credit have grown about 30 percent
annually. The FDIC report states, "The rationale for homeowners'
greater use of HELOCs is straightforward. With consumer spending
outpacing income growth in the 2000s, homeowners have turned
increasingly to home equity lending as a substitute for consumer
credit to finance new consumption, reduce outstanding debt, or
purchase a home in a two-loan package deal. The appeal over
other more costly credit alternatives derives from the
significant advantages of comparatively low interest rates, tax
deductibility, and easy availability, since income and cash flow
tests matter less for determining credit lines than for credit
cards or auto loans. Furthermore, because HELOCs offer the
flexibility to draw money only as needed and the convenience of
a revolving credit line, borrowers favor HELOCs more and more
over closed-end home equity loans. For these reasons, many
homeowners are converting the equity in their home into cash
through home equity borrowing and making this kind of
transaction an increasingly important part of their household
finances. With the dramatic decline in mortgage refinancing
volumes since mid-2003, a homeowner would more likely choose to
tap home equity through a draw on a HELOC rather than extract
cash as part of a refinancing."
Obtaining a mortgage refinance quote is the first step in
obtaining a home equity line of credit that homeowners can use
for home improvement, debt consolidation, or consumer spending.
About the author:
Chris Robertson is an author of Majon
International, one of the worlds MOST popular internet marketing companies on
the web. Visit this Financing\Investi
ng Website and Majon's Financi
ng\Investing directory.
|
|
|
|
|
| E-LOAN: Mortgage Refinance, Home Equity, Auto Loans, Savings ... |
| E-LOAN offers home mortgage, refinance, home equity loans, lines of credit, auto and motorcycle loans, savings accounts and CDs with great rates online. |
| www.eloan.com |
|
| LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance |
| Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
| www.lendingtree.com |
|
| Calculators - Refinance Calculator |
| 1, CURRENT MORTGAGE. My monthly payment is: $. My current interest rate is %. I have years and months left on this mortgage. ... |
| cgi.money.cnn.com |
|
| Refinance | Mortgage Loans | Home Equity Loans |
| Join over 3 million homeowners who have used GetSmart, a service of LendingTree, to find a better mortgage, refinance, home equity, or debt consolidation ... |
| www.getsmart.com |
|
| Mortgage Refinance - Debt Consolidation Loan - Mortgage Loans ... |
| iMortgage Central is a borrower's marketplace that provides the consumer a connection with mortgage lenders that match them to their individual needs. |
| www.imortgagecentral.com |
|
| Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans |
| Online lender offers simplified residential loans and competitive mortgage rates. Headquarters in Livonia, MI. |
| www.quickenloans.com |
|
| Mortgage Refinance Calculators and Mortgage Tools - Quicken Loans |
| Mortgage refinance calculators from Quicken Loans allow you to calculate your mortgage payments for a variety of refinance loans, home loans, ... |
| www.quickenloans.com |
|
| Mortgage Refinance Calculator |
| Mortgage Refinance Calculator. As those interest rates drop, it's often difficult to know when it's to your advantage to refinance your fixed-rate mortgage. ... |
| www.aba.com |
|
| Mortgage Refinance Costs |
| Mortgage Refinance Costs. When you refinance your mortgage, you usually pay off your original mortgage and sign a new loan. With a new loan, you again pay ... |
| www.mortgage101.com |
|
| Bad Credit Mortgage Refinance,Bad Credit Home Loans,California ... |
| Bad credit home loans,California mortgages,Debt Consolidation Home Loans, Refinance Home Loans, Refinance Mortgage Interest Rates,Second Mortgage solutions ... |
| www.alliancemtg.com |
|
| Directory: mortgage refinance |
| Internet Access · Online Education · Insurance Quote · Arts · Domain Name · Nutrition · Computer Hardware · Television · Home Mortgage Refinance ... |
| shurl.org |
|
| Mortgage Refinance Home Loan - Homeloancenter.com |
| Our Mortgage Refinance Home Loans allow you to get cash out with a Low mortgage Rates from the leading online lender. Bad Credit Loans are ok. |
| https: |
|
| Mortgage | Refinance | Home Equity | Home Loans | Mortgage ... |
| This era has been marked as the mortgage refinance era. ... Call Us Today For A Free Quote On Your Mortgage Refinance, Home Equity Loan, Debt Consolidation ... |
| www.lendance.com |
|
| Mortgage Refinance & Credit Card Rates |
| Mortgage Refinance · Home Purchase Loan · Home Equity Loan · Debt Consolidation · First Time Home Buyer · Refinance->Cash Out · Lower Payment ... |
| www.fetcharate.com |
|
| Home Loan Center - Home Equity Loans | Mortgage Refinance | Bad ... |
| The leading online lender for home loans, home equity loans, mortgage refinance and bad credit loans. We are approved in all 50 states. |
| www.homeloancenter.com |
|
| Mortgage Refinance Options : Cut Your Rates with a Loan Refinance |
| Get Free No-Risk, No-Obligation quotes for your Refinance from up to 4 lenders. |
| www.mortgageloanplace.com |
|
| Wells Fargo Home Mortgage - Refinancing |
| Wells Fargo Home Mortgage can help you customize a refinance that supports your unique financial goals. |
| https: |
|
| Mortgage Refinance, Health, Auto, Life Insurance Quote |
| Online marketplace to refinance and save on your mortgage. Receive up to 4 offers. Save money with GoApply.com for all of your financial needs such as ... |
| www.goapply.com |
|
| Mortgage Refinance |
| Apply for a mortgage refinance today with us! We work with the nation's largest network of recognized mortgage lenders to bring you the best deals on a ... |
| www.wilsondaily.com |
|
| What is a Mortgage Refinance |
| A mortgage refinance refers to applying for another mortgage to replace an existing mortgage on the property. There are many reasons why borrowers decide to ... |
| www.nextag.com |
|
|