2nd Mortgage
Fri, 10 Oct 2008 07:00:10 -0600
by 2nd Mortgage @ Fri, 10 Oct 2008 07:00:10 -0600
40- loans now available for home buyers Term can add $200,000 to $250,000 loan Buyer could spend a lifetime paying it off CASH-strapped home buyers are being pushed into 40-year home loans that can end up costing them $200,000 in extra interest ... A lower interest rate gives you less interest to deduct on your income tax, which may increase your tax payments and decrease your total savings from refinancing....
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Thu, 09 Oct 2008 19:00:09 -0600
by 2nd Mortgage @ Thu, 09 Oct 2008 19:00:09 -0600
The 40 year mortgage is a perfect example of this. 40 Year Mortgage Options Mortgage lenders are always on the lookout for new ways to take money from homeowners. Because there is more risk for the lender interest rates are higher and you will pay significantly more in finance charges for t The 40 year mortgage is very similar to a traditional 30 year mortgage; the main difference is that the loan is amortized over 40 years. Here is what you need to know about this expensive mortgage option. For this amount, the lender may charge you between $3,000 and $6,000. However, some lenders may offer zero points at a higher interest rate, which may significantly reduce your initial costs, although your payments may be somewhat higher....
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Thu, 09 Oct 2008 07:00:06 -0600
by 2nd Mortgage @ Thu, 09 Oct 2008 07:00:06 -0600
MidCarolina Financial Corporation today reported record total assets of $514.4 million at June 30, 2008, an increase of $63.7 million, or 14%, when compared to the $450.7 million reported at June 30, 2007. Contrary to popular belief, getting a home mortgage is quite simple. All you need in order to make the right decision is to who where to look, what to look for, and what takes place when you apply for a home mortgage. Knowing what to expect, especially if you are a first-time homebuyer, may make it easier for you to get through the process....
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Tue, 07 Oct 2008 07:00:07 -0600
by 2nd Mortgage @ Tue, 07 Oct 2008 07:00:07 -0600
Below is a news release from the Canadian Government stating that there will no longer be 40 year amortizations and no more zero-down mortgages in Canada. This will however take in effect as of October 18th, 2008, and will only effect new mortgages, while existing zero-down or 40 year mortgages will not be effected. These changes are being made to government-backed mortgages (insured mortgages including CMHC, AIG and Genworth). These changes include: -Fixing the maximum amortization peri To determine if refinancing will save you money, compare the total costs to refinance, as well as interest rates.....
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