Home Loan Refinancing Relief Increasing from Government Pressure

Thursday, July 2nd, 2009

The Obama administration has projected that 4 million to 5 million borrowers with home loans they can’t afford would be helped. A Treasury official Tuesday said that the figure applied to those who would be eligible, not necessarily those who would participate.  Administration officials do not have an updated figure of how many people would [...]

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Home Equity Loan Versus Home Equity Line of Credit

Monday, January 12th, 2009

Both home equity loans and home equity credit lines are second mortgages, but these home equity products do have some differences with the interest rates and terms.  First of all home equity loans are installment loans with a fixed interest rate amortized on a set term.  The monthly payment for an equity loan is the [...]

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Equity Loans Not Offering as Much Cash Out

Wednesday, December 24th, 2008

In a recent article, Jeff Gelles writes about how, Mark Alexander is optimistic that his neighborhood and city’s economic prospects will improve. So when falling interest rates lured him to refinance his Southwest Center City home yesterday, he might have cashed out some of his equity, as many borrowers did through much of the long [...]

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