find mortgage and refinancing information Akron Ohio

Channel:

We would like to thank the local libraries, schools, and universities for recommending students to visit us when doing research on any of our information topics.
 Please check back frequently as new topics are added and current topics are updated daily.

 

Home Equity Line of Credit - Great for Remodeling Projects


Many homeowners are lucky enough to find a house that represents exactly what they want in a home. They buy it, make the payments on it, and live more or less happily ever after. Others are not so fortunate. Some buyers who live in a pricey market may have to settle for less house than they need, hoping to find a solution to their lack of space later. A third group of buyers may find that their housing needs change over time, as their family size increases. What can be done in these situations?

A common solution to these problems is to add on to the house, often accomplished by converting a garage to a room, adding a room over the garage, or simply adding a room somewhere else on the property. For these projects, a home equity loan is a great source of financing. The home itself is used as collateral for the loan, and the addition actually increases the value of the house. As most of these projects involve a fixed cost, the payments can be structured at a fixed interest rate over a specific period of time. But what about the do-it-yourself project? What if the problem with the home isn't a lack of space, but a lack of taste on the part of previous owners? Is there a better financing choice in these situations?

If your problem is gold appliances, lime green carpet, and smiley face wallpaper, you may be looking at a remodeling project of indeterminate duration. For such a project, a better financing choice would be a home equity line of credit, or HELOC. A line of credit offers greater flexibility, both in interest rates and repayment terms, than a traditional line of credit. The loan amount is based on the amount of equity in the home, but the funds aren't dispersed all at once. Instead, the borrower is given a checkbook, a special credit card, or both and can use them to draw upon funds at his or her leisure. Payments only apply when money is actually borrowed, and the repayment plans can be arranged with both fixed and adjustable interest rates, depending on the lender. This is ideal financing for someone who has purchased a fixer-upper home that needs a variety of changes, repairs, or modifications. The credit card can easily be used to purchase paint, drapes, flooring, appliances or whatever the homeowner requires to make the home fit their needs.

If you just need to hire a contractor to add a gameroom to your home, a traditional home equity loan would work well. For ongoing projects with indefinite timeframes and budgets, a home equity line of credit may be the best choice.

©Copyright 2005 by Retro Marketing.

Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a Website devoted to debt consolidation and credit counseling information and HomeEquityHelp.net, a site devoted to information on mortgages and home equity loans.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Wed. August / 23 / 2017


Financial Regulation News

FHFA modifies mortgage refinance program to help underwater borrowers
Financial Regulation News
The Federal Housing Finance Agency (FHFA) has modified the streamlined mortgage refinance program for borrowers with high loan-to-value (LTV) ratios, the agency announced last week. The High LTV Streamlined Refinance Program was established by ...

and more »


Put more money into your pockets – Opt for a commercial mortgage refinance in Savannah
Business In Savannah (blog)
Are you a business owner who is in the market for a commercial mortgage loan or have you been thinking of refinancing your loan? Regardless of whether you're new to the home loan market or you're looking for a new loan with better terms to refinance ...



The Dough Roller

6 Things You Need to Know Before You Refinance to Pay Off Debt
The Dough Roller
So, you're drowning in high-interest credit card debt and personal loans? You've also got some good equity built up in your home? Maybe you're thinking about leveraging today's still-low mortgage rates and refinance to pay off debt. It's a tempting idea.



Nigeria Mortgage Refinance Company Profits Grow by 164 ...
Naija247news
This week, shareholders of Nigeria Mortgage Refinance Company (NMRC) PLC received the Report of the Directors on the Company's performance in the 2016 ...

and more »


Daily Report (registration)

Facing Trial, Wells Fargo Pays $108M to Settle Whistleblower Suit
Daily Report (registration)
Bibby and Donnelly claimed the banks had illegally added the unauthorized fees to veterans' mortgage refinance costs in violation of federal regulations. The federal government partially guaranteed the loans made by participating banks. The loans at ...
Wells Fargo says number of unauthorized accounts could rise significantly in reviewCharlotte Observer
Wells Fargo warns it may find 'significant increase' in unauthorized accountsCNBC
Wells Fargo (WFC) CEO Shares Updates on Company's Rebuilding Trust Efforts in Companywide MessageStreetInsider.com
Zacks Investment Research
all 222 news articles »


TGMC saves more than $600,000 by refinancing bonds
Houma Courier
Terrebonne General Medical Center will save $615859 by refinancing bonds at a lower interest rate. TGMC's board refinanced $9 million worth of revenue ...

and more »


NBCNews.com

Wells Fargo Picks First Woman to Lead Board as Scandal Worsens
NBCNews.com
Wells Fargo's chairman is stepping down early as the banking company tries to recover from growing scandals and will be replaced by the first female leader in its 165-year history, the company said Tuesday. Wells Fargo and Co. said in a statement that ...
Wells Fargo & Company - WFC - Stock Price Today - ZacksZacks Investment Research

all 222 news articles »


KQED

Marin Lawmaker Wants California Corporations to Pay for Affordable Housing
KQED
Toni Atkins (D-San Diego) would place a fee on certain real estate transactions, such as a mortgage refinance. But Levine says homeowners who would pay that fee “are typically middle-class Californians.” “What we've seen since the Great Recession is ...



BusinessDay (satire) (press release) (registration) (blog)

NMRC grows PBT 164% to N1.2bn in 12 months amid challenges in ...
BusinessDay (satire) (press release) (registration) (blog)
In spite of the huge challenges in both the economy and operating environment, the Nigerian Mortgage Refinance Company (NMRC) was able to achieve very ...

and more »


Motley Fool

How to Get the Best Mortgage Refinance Rates
Motley Fool
How can you get the best rates when refinancing your mortgage? Follow these steps to get a good deal on a refinance loan. Christy Bieber. (ChristyB). Mar 25, 2017 at 7:06AM. Homeowners who refinanced a $200,000 mortgage in the first quarter of 2015 ...

and more »

Google News

used office furnishings-supplies-equipment-desks-cubicles-service-counters for sale in Akron Ohio   Die cast model cars for sale in Akron Ohio  
used cars for sale in Akron Ohio   unfurnished homes for rent in Akron Ohio

Click here to
OfficeJax free ad space available here

Find used office equipment in Ohio at www.OfficeJax.Has.It

Find the best fleamarkets at www.FleaMarketWorld.Has.It

www.Akron.Has.It

Find electric powered vehicles at www.NoGas.Drives.It

Akron City directory

Free Automatic Link Exchange

Flea Market World

Find homes for rent
in Akron Ohio
www.homes4rent.has.it

iphone-4-less below wholesale prices

 

Place your AD here. Click here for more details.

Click above to place your AD here

[Back to Top]

Ohio RealEstate

auction news and listings for Akron, Ohio

Akron crafts and hobby news center

best home remedies and do it yourself tips

Akron currency trading

Akron Ohio pet news

Advertising and promotions Akron, Ohio

The Akron blogging news center

Akron Ohio web site design news

Akron Mortgaging and refinancing

Web site design tips

 

HOME | SITE MAP
© 2012 all rights reserved



Increase pagerank with HitsSurfer

free page rank checker and seo evaluation tools 

first second ARM compare rates find the best rates current in your area lenders read reviews calculator adjustable rate loan home lenders brokers quotes florida houston gmac washington interest only 2nd software debt consolidation reverse senior equity texas maryland options lending bad credit  option one ameriquest chase first banks emc residential california miami dallas est branch marketing home company commercial yahoo online bad credit low credit no credit