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Home Equity Loan Considerations
In other words, the benefit of the loan must outlast the loan period. Taking a loan for financing that elusive vacation is a strict no-no. Moreover, home equity loans must also never be taken for day-to-day expenditures. This option should be saved for emergency needs only.
When applying for a home loan, all credentials of the lender must be keenly checked. The local consumer protection agency could be contacted for providing a list of lenders with an honest repute. All fine print must be carefully scrutinized, and one must avoid signing documents without having read them or which have blank spaces in them. Moreover, it is also advisable to keep a copy of all documents for future references.
Avoid the temptation of applying for a home equity loan wherein your monthly income is inadequate to finance your debt obligations. In such an eventuality, the lender can foreclose on your home because of a default. Hence never let your greed overtake sound common sense when applying for that home equity loan.
A home equity loan is normally a second mortgage. Hence one must carefully take stock of one's financial conditions and analyze whether one can afford extra debt. This is because once a home equity loan is undertaken, loan repayments must be made a top priority, as it is your home that could be taken away from you in the event of a default.
Moreover, one needs to maintain a good credit record, as banks that have advanced you credit can freeze your credit limits in case your credit record takes a turn for the worse.
Having said this, it does not in any case deny the fact that home equity loan products are indeed very attractive.
Home Equity Loans - Rates, in depth articles and professional second mortgage advice. Find the lowest home equity loans rates and lenders.
MORE RESOURCES updated Wed. August / 12 / 2020
How to get a low-cost mortgage refinance Bankrate.com
Refi Rates Today, August 10, 2020 | Rates drop Bankrate.com
Mortgage Rates Hit Yet Another Record Low The Motley Fool
Don't let mortgage rates distract you. You should also consider this when refinancing - Fox Business
Mortgage rates are at historic lows: Is it time to refinance? Burlington Times News
How much does it cost to refinance? Bankrate.com
Mortgage Rates Today, August 11, 2020 | Rates climb Bankrate.com
Is It Already Time To Refinance Again? Mortgage News Daily
Refi Rates Today, July 24, 2020 | Rates slide Bankrate.com
Rocket’s Refinance-Fueled Blastoff Might Not Last The Wall Street Journal
You might have a tough time getting a 'jumbo mortgage' during pandemic. Here's what to expect - CNBC
How the right questions yield smart mortgage... Kent Reporter
How to Refinance a Jumbo Loan Credible News
What Is A No-Closing-Cost Mortgage? Bankrate.com
Don't make these mortgage refinancing mistakes | Business | swoknews.com The Lawton Constitution
Bots Help Meet Mortgage Demand Credit Union Times
Mortgage industry faces 'tsunami' of refinancing deals Phoenix Business Journal
How Does Mortgage Repossession Work? The Motley Fool
How to save through refinancing KTAR.com
Report: Fewer Homeowners Think Now Is a Good Time to Buy The Motley Fool
Compare mortgage, refinance, insurance, CD rates Bankrate.com
Mortgage refinance: Everything you need to know Fox Business
The feared jumbo mortgage debacle is here — thanks to the coronavirus — and ready to pound the housing market - MarketWatch
The feared jumbo mortgage debacle is here — thanks to the coronavirus — and ready to pound the housing market MarketWatch
How to get the best mortgage refinance rates Fox Business
How to refinance your mortgage Fox Business
Just Approved: Run, don't walk to refinance Beaumont Enterprise
Is now the best time to refinance your mortgage? Fox Business
10 things to know before refinancing your mortgage Fox Business
Six Ways COVID-19 Has Affected Home Lending whatcomtalk.com
Money Roundup: South Florida GDP plunge worse than national average; Local billionaires made billions in first months of pandemic and more - South Florida - South Florida Business Journal
Money Roundup: South Florida GDP plunge worse than national average; Local billionaires made billions in first months of pandemic and more - South Florida South Florida Business Journal
Sell Rocket Companies: It Is REKT Seeking Alpha
When should you refinance your mortgage? Fox Business
Mortgage refinance applications spike 79% as homeowners rush to take advantage of lower rates - CNBC
Refinancing boom hits Central Coast Pacific Coast Business Times
With Mortgage Rates So Low, Getting a Floating Rate Mortgage Might Seem Crazy. Here's Why I Did It Anyway - MONEY
With Mortgage Rates So Low, Getting a Floating Rate Mortgage Might Seem Crazy. Here's Why I Did It Anyway MONEY
Record number of borrowers can now save on a mortgage refinance as rates drop from coronavirus fears - CNBC
Record number of borrowers can now save on a mortgage refinance as rates drop from coronavirus fears CNBC
How does mortgage refinancing work? Bankrate.com
Washington Post: Reverse Mortgage a Possible Option for 'Underwater' Homeowner - Reverse Mortgage Daily
Washington Post: Reverse Mortgage a Possible Option for 'Underwater' Homeowner Reverse Mortgage Daily
Should I refinance my house? Mortgage rates drop to 50-year low as coronavirus spreads across the U.S. — and the world - MarketWatch
Should I refinance my house? Mortgage rates drop to 50-year low as coronavirus spreads across the U.S. — and the world MarketWatch
I refinanced my mortgage during COVID-19, and thanks to low interest rates I'll save about $50000 - Business Insider
I refinanced my mortgage during COVID-19, and thanks to low interest rates I'll save about $50000 Business Insider
The impact of the coronavirus on mortgage refinancings Brookings Institution