The demand for property has been rising. Everybody wants to invest in property because it makes great business sense. Housing is a great business in today’s world, especially within city limits. With everyone wanting to live in the city and pursue lucrative careers, housing will certainly be an issue. As a result, it makes good business sense to exploit this…
Tag: Mortgages
Home Equity Mortgages
Home equity mortgages are loans that use the equity on the home as collateral. Home equity is the difference between the current value of the home and the amount owed because of the mortgage/mortgages. A home equity mortgage can also be said to be a second mortgage since the extra cash generated can be used for home improvements, thus increasing…
Don T Be Scared By Interest Rates
Let’s look at what we have been hearing. That with rates up, homebuyers will pay thousands of additional dollars on their mortgages. For example, on a $500,000 mortgage, an extra .5% in interest rate adds another $160 a month to the payment. In thirty years, the increased rate costs $57,000 more. It’s a bit more, but it is part of…
The Disadvantages Of Reverse Mortgages
A reverse mortgage can be an attractive option for many home-owning seniors that are having a hard time making ends meet. With a reverse mortgage, a senior homeowner will receive money for their home equity from a lender without having to make repayments for as long as they live in their home. So with the right reverse mortgage a senior…
First Time Buyers Mortgage
Introduction: Property is an investment, and if purchased in a planned way is beneficial otherwise it may be dangerous if a high amount is borrowed. Most of the financial authorities prefer the first time buyer and offers various incentives. You should contact to an estate agent and discuss about your financial health, repayment options, and selection of mortgage and redemption…
Consider Different Reverse Mortgage Options
There are many different reverse mortgage options: single purpose reverse mortgages, federally insured reverse mortgages, and proprietary (private sector) reverse mortgages. Each option has different pros and cons that need to be considered when looking into taken out a reverse mortgage. Single-Purpose Reverse Mortgages A single purpose reverse mortgage is the lowest-cost type of reverse mortgages to obtain, but as…
Achtung Stay Away From Adjustable Rate Mortgages
If you are thinking of mortgage refinancing then there is one thing you might want to know and that is – you should stay away from ARMs ( adjustable rate mortgages ) … And if you are wondering why anybody would want to do that, especially since ARMs promise such low interest rates, well here’s why … Adjustable rate mortgages…
Should Your Parents Consider A Reverse Mortgage
Are your parents struggling to make ends meet with their retirement income? Many homeowners are taking advantage of reverse mortgages as a means of being able to live more comfortably during their retirement years. A reverse mortgage offers individuals aged 62 or older to tap into the equity in their homes as a means of supplementing their monthly incomes. Getting…
Why Mortgage Rates Rise When The Fed Cuts Rates
Short term loans like car loans, credit cards and home equity loans are automatically lowered with Federal rate cuts because they are based on the Prime rate. Longer term loans such as mortgages aren’t because they are based on competing investment options, for instance investing in stocks rather than real estate. When the Fed cuts rates the stock market takes…
What Are The Requirements For Reverse Mortgage
What exactly are reverse mortgages? Have you heard of them? Well, let’s start off by saying that they could make life easier for you. There are a whole lot of benefits in reverse mortgages that could be very welcome as far as you are concerned when you are in need of money. Reverse mortgages have been found to be a…