Consumers are generally categorized into three classes: 1. Those who shudder at the very thought of paying interest. 2. Those who are willing to pay interest in order to have more purchasing power based on their current income level. 3. Those who view interest as a cost of doing business and use it to their advantage. Yes, paying interest does…
Tag: Principal
Pre Paying Your Mortgage Benefits And Drawbacks
House payments can take up a large portion of your paycheck, and paying even more toward your mortgage every month may seem like an overwhelming idea. What you may not realize, however, is that paying a little more can save you thousands of dollars over the life of the loan. Before you put all of your extra money toward your…
Refinancing Student Loans
Many students and graduates are facing with struggling to repay their student loans. They have to refinance it in order to lower their monthly payments. Refinancing student loans can be a good idea under certain circumstances, but not always. As of late, interest rates have been low but they are in fact rising and most economists agree that they will…
Save Money On Your Mortgage Loan
Did you know if you borrow $100,000 for a mortgage loan, you may pay back as much as $300,000? Yes, its true, and you may pay more than that depending on the interest rate and the number of years it takes you to repay the loan. The amount is even higher if the terms of your loan require mortgage insurance.…
Insuring A Second Home
As a nation we in the UK are becoming wealthier. With the rise in our overall wealth has come a desire to spend our money on certain luxuries we enjoy. And one of the boom industries when it comes to spending this money is on the second home – the cottage in the countryside where we can spend the weekends.…
Power Of Attorney Power Packs In A Paper
The Power of Attorney is a legal document voluntarily entered into by two parties and duly certified by a notary public, usually a lawyer. The first and second party in the Power of Attorney are: the Principal and the Agent,respectively. In the power of attorney, the principal appoints the agent to perform a task in a legal capacity in his…
Surety Bond Bulk Discounts
Every now and then I get a call from a new client asking how much of a discount they will receive for obtaining multiple bonds. I immediately know the conversation will take a bit longer than usual, as I will have to explain what surety bonds are in order for them to understand why they will not obtain a discount…
Build Your Equity Faster By Refinancing
There are a number of mortgages out there that give you low payments each month. Some of these mortgages, such as interest only, adjustable rate mortgages, and a few others, gave you the low payment up front – but it was at the expense of building up your equity. Here is how refinancing your mortgage can enable you to start…
Loan Terminology
Loan Terminology – Are you planning to take some loan in the near future? If yes, then the entire procedure will be fairly simpler if you are aware of the following Loan Terminology. We have picked up some most common terminologies, which you will come across various times while you, are applying for a loan. Principal – the money…
Home Loan Mortgage Loan Refinance Refinancing For A Shorter Term To Save Money
Saving money with lower rates isn’t the only reason to refinance. Opting for a shorter loan can also save thousands in interest and free up income in the future. A short term loan can also help you pay down your principal quicker. Better Rates A 15 year mortgage has a better rate than a 30 year mortgage offered the same…