Mortgage News

Action Economics’ forecast calls for the U.S. economy to shed 60,000 jobs, marking the fourth straight monthly decline

Original post by Anthony

High commodity prices have taken their toll on Procter & Gamble and other makers of household items, dampening their appeal as defensive plays

Original post by Anthony

It is normal for the economy to go through a period in time where defaults and delinquent payments are up following a real estate market boom. To listen to the news, you would think the terms foreclo…

Original post by default@goarticles.com (Ed Lathrop)

Its quarter-point cut and wait-and-see stance appear prudent. Yet the credit crunch limits the effect of past rate reductions, and more mortgage-related stress remains a threat

Original post by Anthony

Bernanke & Co. trimmed the Fed funds rate target to 2.0%, but lack of clarity about future moves caused confusion in the markets

Original post by Anthony

So the Fed’s are continuing to bring the short term interest rates down, this is good news. Some will say it doesn’t matter, but lets take a look at what it really means.

Short term interest rates that are tied to the Prime are now a bit lower. Granted most people won’t notice because many people choose to live on credit card debt. If you are looking to make a difference in your personal finances, now is a time to aggressively attack those credit cards.

How, you ask? Well, now Home Equity Loans are much lower as well. Back in 2004 Home Equity Loans (a.k.a. HELOC’s) were all the buzz. As a loan officer, I think I did at least a few every week. They were like super sizing a loan “would you like a home equity loan with that? There is no additional cost and no extra closing costs as long as you keep it open for 3 years, and you never have to use it”. It worked like magic and it was what people wanted. The savvy consumers took advantage of them and converted high interest credit card payments into lower interest, partially tax-deductible payments.

Well, it’s 2008. and again, it’s a great time to get a Home Equity loan, but this time, I don’t just recommend paying off debts with it, I recommend paying off your mortgage with it. WHAT? Yes, you heard me right - I am recommending that you payoff your first mortgage with a Home Equity Loan. Before running out and doing this on your own, I will tell you that you have to work with a financial expert to make this work otherwise, you will be in lots of trouble. There is a special software that will take into account all of your debts including your first mortgage and show you how to leverage short term interest and its payment cycles to pay off all of your debts, mortgage included, in the shortest amount of time - usually less than 10 years.

If you want more information on how to get this done, you can visit UFirst, or call me at 800-453-9290

Until next time,

Anthony

Original post by Anthony

Bernanke & Co. trimmed the Fed funds rate target to 2.0% and signaled continued concern about inflation

Original post by Anthony

Bernanke drives rates to the lowest since ‘04 after GDP shows weak growth built on inventories

Original post by Anthony

The mortgage crisis that gripped Florida during 2006 and 2007 greatly influenced the decline of real estate acquisitions in the area. The increasing number of foreclosures by investors failing to pay …

Original post by default@goarticles.com (Vanessa Doctor)

With the mark of TexasLending.com’s most successful first quarter yet, Texas mortgage company has continued their expansion with the addition o…

Original post by default@goarticles.com (TexasLending.com)