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Consolidating first and second mortgage loans

Refinancing the first mortgage is taking steps backwards.

I do agree the second mortgage line of credit with it’s adjustable rate needs to go…but consolidating the two loans into one is not the answer.

You also mentioned a desire to lower your monthly outflow…well you’ve got too many opposing wants…and one of them has to give.

The smart one to let go off is cutting your monthly outflow…do that in other lifestyle areas…not here.

Consolidating your credit cards with and fixed, HELOC loan programs or a FHA refinance can significantly improve your Fico credit scores with the Trans Union, Equifax and Experian credit bureaus.

We can provide more info about equity loan solutions for all types of credit. Find Loans that Save Money & Get Cash Back with New Home Equity Credit Offers Ask your loan officer about the emerging equity loan and credit line products that may be beneficial to you financially.

There is no application fee to review quotes from multiple lenders. Learn more about HARP and the expanded guidelines for FHA mortgages, equity loans and hard money mortgage loans.

Refinancing to receive money back is more difficult with bad credit because of the weak secondary market.

My answer: No, I don’t think consolidating is a great idea and here’s why…You’ve got a great rate and are just getting to the point where greater amounts of principal are being reduced on the first mortgage.

There are more second chance loan opportunities than in previous years, no take a minute and see if a home equity line of credit for bad credit is an option for you.

Did You Know that in some cases, refinancing high rate credit card debt and save people money when the debt is converted to a simple interest fixed rate equity loan?

Here is the scenario…then I will answer…I owe on my first mortgage ,000.00 at a fixed rate of 5.25% ( it was a 15 year loan, Monthly payments of

My answer: No, I don’t think consolidating is a great idea and here’s why…You’ve got a great rate and are just getting to the point where greater amounts of principal are being reduced on the first mortgage.

There are more second chance loan opportunities than in previous years, no take a minute and see if a home equity line of credit for bad credit is an option for you.

Did You Know that in some cases, refinancing high rate credit card debt and save people money when the debt is converted to a simple interest fixed rate equity loan?

Here is the scenario…then I will answer…I owe on my first mortgage $77,000.00 at a fixed rate of 5.25% ( it was a 15 year loan, Monthly payments of $1,180.00 I have around 8 years left to pay ).

I also have a equity line of $100,000.00, I used $98,000.00 at a variable rate of 6% now, with a interest only payment of $450.00 a month. My question is, would I be smart in combining both mortgages into one 30 year fix at 5.8% now before it goes up? I want to reduce out going monies and start paying interest on the $98,000.00.

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My answer: No, I don’t think consolidating is a great idea and here’s why…You’ve got a great rate and are just getting to the point where greater amounts of principal are being reduced on the first mortgage.There are more second chance loan opportunities than in previous years, no take a minute and see if a home equity line of credit for bad credit is an option for you.Did You Know that in some cases, refinancing high rate credit card debt and save people money when the debt is converted to a simple interest fixed rate equity loan?Here is the scenario…then I will answer…I owe on my first mortgage $77,000.00 at a fixed rate of 5.25% ( it was a 15 year loan, Monthly payments of $1,180.00 I have around 8 years left to pay ).I also have a equity line of $100,000.00, I used $98,000.00 at a variable rate of 6% now, with a interest only payment of $450.00 a month. My question is, would I be smart in combining both mortgages into one 30 year fix at 5.8% now before it goes up? I want to reduce out going monies and start paying interest on the $98,000.00.However, the Federal Housing Administration still approves cash out loans with poor credit and only 15% equity.Equity loans for poor credit opportunities may not be common at your local bank or credit union, but there are a growing number of subprime and home equity lenders that specialize in stand-alone home equity loans for people with bad credit scores.Yes, there are still companies offering loans for people with credit problems revealed on their credit report.The fact is that home equity loan credit accounts are resurging because property values are finally rising again nationally.Then you can focus on liquidating the second early as well. Get a mortgage rates quote from 4 legit lenders Free... Still after all these years, many of our lenders offer bad credit home equity loans and sub-prime loan programs for borrowers with low credit scores.

,180.00 I have around 8 years left to pay ).

I also have a equity line of 0,000.00, I used ,000.00 at a variable rate of 6% now, with a interest only payment of 0.00 a month. My question is, would I be smart in combining both mortgages into one 30 year fix at 5.8% now before it goes up? I want to reduce out going monies and start paying interest on the ,000.00.

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