============
Author Name: Joseph Kenny
Contact Email Address: fan_zone23@yahoo.
WebSite: http://www.ukperson
Category: Finance, Business, Home, Other, Help
Description: Recent years have seen a real increase in the type of credit cards available. So much so, that now you really have to look and see what is available, and it can actually be a little hard to choose between them.
Keywords: loans, home, equity, loan, owner, debt, mortgage, 125%, increase, improve
Word Count: 523
============
Article Content:
Lenders are making the market for new loans sound so good. Other types of loans are already on the market, and understood. So, how do you get new people to jump on your bandwagon? You offer something that sounds good, but one that not everybody yet understands. That seems to be the case of the 125% home equity loan, too.
The Promise
The promise that is made is to give you 125% of the value of your house for a second mortgage. This way you can enjoy having extra finances to use as you please. You can pay off other debt, fix up the house, combine both mortgages, go on a vacation, or whatever. The choice is up to you.
What, though, is the truth behind a 125% mortgage? Here are some details. Some of these companies actually want to lend you more money than your house is actually worth. Think about it. Are they really trying to help? With other lenders, it can actually be a little difficult to get 80% of the value of a house (they are the smart ones). Why are these agencies trying to push extra money in your face?
Extra Charges
A number of these companies charge 10% if you want to get a lower rate of interest than what is initially offered. That's just for starters. While they do offer lower rates than what credit cards usually go for, it actually may not be much more, since second mortgages are typically more than a first mortgage. Plus, there is an origination fee, closing costs, and more.
Stay Where You Are
With the extra charges, and owing considerably more than your house is worth, you can plan on not moving anytime soon. This puts you in a negative equity situation. Many people who bought houses even last year are finding out that this is not a good situation to be in. It is possible, in a day of unstable housing markets, that your house could also be devalued – making it even harder, if not impossible to sell – for years more. It could also mean going into greater debt.
It will also take you a few years just to recover from the various expenses of the mortgage - let alone bring your debt down to where you can make any profit on selling the house. And getting the downpayment for a new house while you owe so much - don't even go there - it will only be in your dreams.
An even greater problem may occur if you have an adjustable rate mortgage. Sooner or later, there is going to be a rate increase, and it could be as much as 50% higher than it is now.
Compare
If you still want to consider a 125% mortgage, then be sure to compare one company's product with another. You will be able to see the features that really stand out, and be able to see what features you may need, or want. Be wary of mortgages that promise no fees, because you can be sure that it has been added in there somewhere - and probably more things, too.
============
Author Biography:
Joseph Kenny writes for the <a href="http://www.ukperson
Visit Today: <a href="http://www.ukperson
============
*** Digital Reprint Rights ***
* You are not allowed to change anything in Article Content and Author Biography except the format for displaying the article properly.
* You are allowed to use this article for free as long as it will not violate any laws.
* I will appreciate it if you can notify me the publication of this article. I can be reached at fan_zone23@yahoo.
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch format to Traditional
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe
__,_._,___
3 comments:
.
.
.
.
.
.
Good blog - very interesting!! I liked it so much I'm going to share this hush hush advice with you. Ever wondered how your neighbours are driving around in their brand new BMW or Mercedes cars - with their kids dressed in all the latest named gear and foreign holidays aplenty?? Well they discovered the secret to the extra online income.
If you are looking for a free tool to attract loads of free links to your blog or website then congratulations I've got the solution for you - and it is FREE!!
My website specialises in child development jobs and to drive traffic to my website I was searching around the internet for absolutely ages looking for SEO tools and ffa submission sites to fire my site up the Google search engine - unfortunately these doing work and in fact had the opposite affect plunging my site down the rankings like it had a heavy weight attached!!, then I signed up for this free superb traffic generating tool - I now have loads of hits to my websites/blogs and my site is shooting back up the Google rankings quicker than ever before.
Consequently this saw my affiliate commissions shoot through the roof - meaning lots of extra money coming in for my family - I bought my first Mercedes car on the proceeds of my online campaign.
Sign up now - it's free.. Sorry if this information is of no use to you but seeing as you have the anonymous feature enabled I thought I should share this free bit of essential promotional advice with you and would hope you would do the same for me and others who want to boost their online internet income.
I hope the tool will serve you equally as well as it has me - it's free!!
Best of luck, cheers for now, dave.
.
.
.
.
.
.
affordable seoaffordable seoaffordable seoaffordable seoaffordable seoaffordable seoaffordable seoaffordable seo
The Linkreferral Concept is as follows:
We are striving to provide an affordable alternative to search engines and banner ad campaigns which give mediocre results. Our three pronged approach to developing free traffic for our members is described below, Members directory traffic - By joining, you will be included in our members directory which is visited by our community of over 90,000 members, and thousands of outside visitors on a daily basis. You'll have the opportunity to earn a ranking at the top of your category, absolutely free! Receive valuable feedback from visitors of your website, network with your peers, and give your opinion on other websites in the directory. The more you participate, the more you get in return!
Referral based traffic - You are probably familiar with the concept of network marketing, well this is a free version of that marketing method - by registering and promoting your linkreferral affiliate link, an exponential growth of 5 levels of referrals can be created (ex. you refer 10 people who refer 10 people each who refer 10 each....), potentially 10,000s of visitors/day all viewing your link prominently in the top spot of our 'Featured Sites' section on our home page for your referral ID. It works because its free, fast to register, easy to implement and no risk. People that are referred from your site will have nothing to lose and everything to gain, just like you.
SIGN UP TO LINKREFERRAL NOW - IT'S FREE!!
affordable seoaffordable seoaffordable seoaffordable seoaffordable seoaffordable seoaffordable seoaffordable seoaffordable seo
Hi
Great blog, nice to see someone else has activated the anonymous feature! If you are into 2006 code promotion tax turbo then you need to see this blog site for free advice and a great secret (and free) program which will generate floods of extra traffic to your website.
Here's the link: 2006 code promotion tax turbo
Post a Comment