Archive for May, 2010

Home Equity Interest Rates Up and Down

Thursday, May 20th, 2010

It was another volatile day for the stock market so mortgage and home equity interest rates were all over the map. The interest rates went up and down like a roller coaster for most of the day. The market madness caused most home equity lenders to reprice for the worse, but later in the day, it allowed [...]

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When Should I Refinance My Home Equity Line of Credit?

Friday, May 14th, 2010

Dear Smart Home Equity: We currently have home equity credit line with an interest rate prime plus 1.5 %. The equity line payment is small because it’s interest only, but I’m concerned that the rate will start rising and I might not qualify for an equity loan refinance, because I’m self-employed.  I may be doing [...]

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Is a Debt Consolidation Loan Right For You?

Monday, May 10th, 2010

Thousands of homeowners have benefitted from consolidating debt with our home equity loans.  As the government cracks down on subprime mortgage lending it is inevitable that home equity loan guidelines will tighten for cash out and debt consolidation loans.  Consider these three steps below before taking out an equity loan to consolidate debt. 1. Determine [...]

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Homebuilders Report Increase in Home Improvement Financing Demand

Monday, May 3rd, 2010

Needless to say, the home equity sector of the mortgage industry has had three poor consecutive years.  With the credit crunch nearly killing all home equity loan programs across the nation, it was difficult for homeowners to access cash with a home equity line of credit or a closed end second mortgage.  2010 is showing [...]

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