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Refinance to Lower the Mortgage Payment:Good Idea?
April 5, 2004, Revised November 17, 2004 Refinancing a mortgage at a higher interest rate may be necessary to raise badly needed cash, or to reduce monthly payments you can no longer afford, but it will make you poorer in the long-term. That includes proposals to invest the savings in ... more... Mortgage Prepayment Penalties October 12, 2001, Revised November 17, 2004 What Is a Mortgage Prepayment Penalty? A prepayment penalty is a provision of your contract with the lender that states that in the event you pay off the loan entirely, you will pay a penalty. Penalties are usually expressed as a ... more... |
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find house interest loan home mortgage refinancing down related definitions |
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Second Mortgage, Home Equity Loan
Second Mortgage, Home Equity Loan A secured loan (mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence. Generally, second mortgage hass a higher interest rate and with shorter terms than a ... more... Home Equity Loan Home Equity Loan A home equity loan is borrowing against the equity you have acquired in your home. Lets suppose your original mortgage was $175,000.00, but your house is worth $225,000.00. The difference is $50,000.00. ... more... |
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More about find house interest loan home mortgage refinancing down
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