Los Angeles, CA (Vocus) September 22, 2010
Due to the mortgage rates dropping to record low levels and the need to find quality information and guidance in the constantly changing mortgage industry, MortgageRefinance.com has experienced a recent surge in the number of visitors to its website. These developments have resulted in homeowners rushing to mortgage refinance.
MortgageRefinance.com is a professional website dedicated to providing information about the mortgage and financial industry and helping consumers make the best possible choices in regards to wealth building. The site is maintained by financial professionals with decades of experience in the mortgage industry. MortgageRefinance.com can be used as a guide for protecting assets with insurance, reducing debts, improving credit score, and managing home equity. The site’s contributors are constantly adding fresh tips, advice and techniques to help individuals make the most of their home’s equity and strengthen their financial position.
The following are some of the topics covered in MortgageRefinance.com.
MortgageRefinance.com helps consumers find the most suitable credit card to fit their needs. The website has professionally written credit card articles that explain the benefits and terms of various cards. These include zero percent credit cards, balance transfer credit cards, business credit cards, low interest credit cards, rewards credit cards, secured credit cards, cash back credit cards and student credit cards.
Credit Report and Credit Score
Monitoring one’s credit report is an important part of financial planning, especially when it comes to obtaining a mortgage or applying for a loan in the near future. A credit report is contains the record of an individual’s borrowing history that creditors, lenders and banks use to determine the possibility that a loan will be repaid on time. The credit report also has information that employers and insurance companies sometimes use to confirm authenticate personal information and establish how responsible an individual is. MortgageRefinance.com explains how individuals can rebuild credit, as well as improve their credit score.
Debt is a common problem which seems to be getting worse everyday. The solution for debt is usually referred to as debt relief. This is where a lender offers the borrower some relief in paying off money owed to them. The objective of debt relief programs is to reduce the amount of debt owed to the lender. MortgageRefinance.com discusses the most common debt relief programs, as well as their benefits.
MortgageRefinance.com explains how FHA loans can help individuals purchase a home, make home repairs, remodel a home and make energy-efficient improvements. FHA loans are guaranteed loans by the Federal Housing Administration (FHA), meaning that lenders offer consumers reduced, more affordable rates. Even for first time home buyers or those with a less than perfect credit score, an FHA loan can save money on the purchase of a home.
Home Equity Loans
A home equity loan enables consumers to borrow depending on the equity accrued in their home. These loans are a popular choice for financing major purchases like college education, home improvements, or other real estate purchases. MortgageRefinance.com explains in detail how home equity loans work.
For those who have high credit card bills and are in debt, many credit counselors recommend debt consolidation. Consolidating debt by refinancing a home and using the cash to pay off credit card and other bills is a prudent way of lowering debt payments and saving money. MortgageRefinance.com shows how much one can save by consolidating debt with a refinance.
Higher education is an investment in the future. It is therefore important to be adequately informed before choosing a student loan. MortgageRefinance.com has detailed articles about student loans such as Perkins loans, Stafford loans, private student loans and PLUS loans. The site also offers advice on student loan refinancing, as well as student consolidation loans.
Veteran’s Affair Loan
Over 29 million service personnel and veterans are eligible to get benefits, including VA Loans. Veterans can receive advice on VA refinances and VA loans from MortgageRefinance.com. The site answers a wide range of questions, such as questions about interest rates and the decision to refinance.
Homeowners who are either retired or are contemplating retirement may wish to boost their monthly income. Senior citizens living on a fixed income might be concerned that that their social security income and retirement savings may not be sufficient to keep up with the inflation rate. In such cases, one’s home may be their biggest investment. MortgageRefinance.com explains how the home can be used to generate income after retirement by taking a reverse mortgage on the home.
Mortgage Rate Calculators
A house is the biggest purchase many people will ever make so it’s crucial that one calculates what the payment will be and how much they can afford. MortgageRefinance.com offers a wide range of mortgage calculators which function in different ways. The mortgage calculator shows how much the monthly payment will be. In addition, it can show the consequence of adding extra payment. The decision about refinancing a mortgage is all about numbers shown in refinance calculator. Whether one wants to shorten the duration of a mortgage or lower monthly payment, refinancing makes sense when the costs of the loan can be reduced. The refinance calculator guides borrowers in making their decision. Other calculators available on the site include comparison calculator, loan repayment calculator, home equity calculator, loan consolidation calculator, HELOC calculator, adjustable rate mortgage (ARM) calculator, and mortgage affordability calculator.
Many people are seeking to lower their monthly mortgage payments, access some equity in their home or pay off outstanding debt. A solution for these would be to refinance the current mortgage. Mortgage Refinancing, which means paying off a current mortgage and taking a new one, also enables borrowers to capitalize on the current flexible mortgage options or change from an adjustable rate mortgage (ARM) to a fixed-rate loan. MortgageRefinance.com explains how mortgage refinancing works and its potential benefits.
Home Buying Advice
There is more to purchasing a home than the mortgage loan. It is a fact that financing is a large part of it. However, there is also the house hunting process, the negotiations, the offer, the inspection, and the closing process. MortgageRefinance.com offers plenty of information on these home buying topics.
When purchasing a home, a buyer would want to qualify for the most favorable rates that a lender has to offer. To achieve this, one will most likely need a credit score of 750 or more. The credit score requirement varies from one lender to another. The buyer will also need a good debt-to-income ratio. If one is carrying too much debt compared to monthly income, they may not be eligible for the lowest mortgage rates.
Over the past few years, many investors have increasingly looked to mutual funds in order to save for retirement, among other financial goals. Mutual funds offer the advantage of professional management and retirement. However, just like other investment alternatives, investing in mutual funds has some risks. It is important to understand both the advantages and disadvantages of mutual fund investments and how to select products that match one’s tolerance for risk and goals. MortgageRefinance.com explains the basics about mutual funds investing; how mutual funds work, how to avoid common pitfalls, and factors to consider before investing.
Cash-in refinancing means putting money into a transaction by paying off the balance, as compared to cash-out refinance where cash is taken out by raising the balance. Cash-in refinance is currently a hot topic since it enables mortgage borrowers to reap a very favorable rate of return on money invested. This is at a time when returns available from other low risk investments such as CDs, money market funds and government securities are at their lowest since the 1930s. MortgageRefinance.com explains how cash-in refinancing works and the benefits it offers to investors.
Certificates of Deposit (CDs) and Money Market Accounts
CDs are debt instruments issued to investors by banks and other financial institutions and are the newest addition to MortgageRefinance.com. Maturities on Certificates of Deposit can range from a few weeks to several years, with the interest rate being earned by the investor rising in proportion to the period his capital is held in the investment. A money market account is a kind of savings account offered by credit unions and banks just like ordinary savings accounts. However, they are different in that, they have higher minimum balance requirements, pay higher interest and only allow limited withdrawals per month. MortgageRefinance.com discusses CD Rates and money market accounts in detail and outlines what factors investors should consider when choosing between the two.
Mortgage Brokers and Lenders Directory
For first-time home buyers as well as seasoned veterans, finding the right mortgage is usually time consuming and stressful. Many people spend a lot of time searching for a home, but neglect to take time researching options for a home loan. Finding an ideal home loan is just as vital as finding the ideal home because establishing the home loan that is best can save one a whole lot of money. MortgageRefinance.com has a comprehensive directory of mortgage brokers and lenders who offer loans to fit most credit profiles, lifestyles and budgets.
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