Mortgage & Refinancing Information |
Mortgage Reduction Solutions
USA ECONOMIC CONDITIONS Today's sluggish economy has left millions of people struggling to financially make ends meet. Lou Dobb's coined phrase "Assault on the Middle Class" continues. Virtually every corner you turn screams inflation and rising expenses. The sky-high cost of fuel and other commodities is ultimately passed to us weary consumers. Salaries once adequate for providing comfortable family living are now stretched to the limits, leaving many people in search of additional income sources to help bridge the gap. LIVING EXPENSES If you look at major expenses in the average person's life, it's easy to identify mortgage or rent obligations at the top of the list. Home ownership is one of the biggest living expenses and frequently the hardest to obtain. According to the the Federal Housing Finance Board, and data analyzed from over 23,000 home loans from over 75 lenders, the U.S. national average purchase price for a single-family home reached $264,540 in October 2004. This average is up from the $243,756 average for October 2003. A $260,000 home loan financed at 6% interest will cost the consumer an estimated whopping $301,179.29 in interest over the course of 30 years. Shorten this loan to 15 years and the home owner will be paying an estimated $2,200.00 per month with approximately $135,000 going to interest. These figures do not include taxes and insurance estimates so the actual costs are even higher. With figures like this it's no wonder people are working their butts off just to have a roof over their heads to protect their family and loved ones. Day after day they continue the grind: up early, work hard, stretch the budget, work, work, work, and work some more. Then along comes payday and... YIKES! Lots - if not most of that hard earned money needs to be set aside for the dreaded mortgage payment. If only there was an easier way! MORTGAGE REDUCTION & FINANCIAL FREEDOM Lots of people dream of increasing their wealth and the ability to pay off their homes and live mortgage free. Now, more than ever, people are turning to network marketing opportunities to reach these goals. For some the dreams of financial stability turn to reality but for many others it remains just a dream. Financial freedom doesn't come from osmosis or wishing, you have to get out there and FIND IT! A current search on Google for 'home business opportunities' produces about 125,000,000 entries. Do all these entries provide income combined with an innovative mortgage reduction solution? Absolutely not! © 2005 Equity Zip Financial - All Rights Reserved Okay to reprint article in its entirety with author bio/sig box in tact. Please keep all links active and although not required, a courtesy copy is appreciated - thanks. Equity Zip Financial
MORE RESOURCES: Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting |
RELATED ARTICLES
High Risk Home Mortgage Lenders Online Online high risk home mortgage lenders specialize in offering loans to people with adverse credit due to bankruptcy or other financial problems. By analyzing online quotes, you can find a reasonable mortgage loan even with poor credit. Adjustable Rate Basics An adjustable rate loan, most simply stated, means that your interest rate can be adjusted up or down over the months and years. By adjusting the interest rate your monthly payments might also change. Home Loans -- The Hot New Product? The 30-year, Fixed-rate Mortgage In recent years, the mortgage industry has introduced dozens of new types of loans. The needs of every borrower are different, so the mortgage companies have tried to come up with an answer for every problem. Credit Problems? With a Subprime Mortgage Lender, Poor Credit is Not a Problem Have you been turned down for a home loan recently because you have a bad credit history? You may want to consider applying for home financing with a subprime mortgage lender. A subprime mortgage lender is one who specializes in providing financing for people who are difficult for most mortgage companies to finances, it could be because of a low credit score, hard-to-prove income or a combination of those factors with no money to put down. Good FICO Credit Score? Tips to Getting the Most Out of Your Home Mortgage Loan With Good Credit Sometimes so much is talked about how to solve the problem of having bad credit, but what about when you have an excellent credit rating? Good credit is considered to be a credit score of 650 or higher. How can you get the best interest rate and loan terms to make your good credit history work for you? Even with excellent credit, you have to be careful not to get talked into a loan that may not be the best one you could qualify for. Save Yourself from Homebuying Disasters Whether you are a first time home buyer or a happy home owner who wants to refinance an existing home loan, there are some cardinal "dos" and "don'ts" to follow. For many, home ownership is the biggest investment in their lives and that could be the reason why some people act irrationally, as if they purposely want to sabotage the deal. The Top 5 Reasons to Buy a Home 1. Save on your income tax. Home Equity Loan Information - How to Use One Wisely Using a home equity loan to get out of debt or make improvements to your home is usually a smart move. You have earned the equity, so it only makes sense that you put it to good use. The Truth About Shopping for Mortgage Rates With so much lender advertising focusing just on rates, you may not be aware of the importance in choosing an experienced, reliable loan professional who can match you with the appropriate loan program. Good loan officers and mortgage brokers may quote today's rate when asked, but they will quickly add they need to know more about you to determine the best program for your individual situation. Mortgage Loans Explained In Plain English With the many different kinds of mortgage loans out there, choosing the right one for your needs can be a difficult task. The following points will help you understand the pros and cons of the different types of mortgage loans available to you. Adjustable Rate Mortgage - How They Work? How does an ARM work.The borrowers interest rate is determined initially by the cost of money and the time the loan is made. Bad Credit Mortgage Loans Online - How Your FICO Credit Score Can Affect Your Loan Approval When applying for a mortgage loan when you have a bad credit history. There are a few things you should know about your FICO score that will help you know what to expect from mortgage lenders. Selling Your Business Note Before I go further, let me ask a question- if you won the lottery tomorrow, would you take the payout in a lump sum or in monthly payments?Most people would take a lump sum because even though it might be less than the total prize, they would have control over a large sum of money now and could let the time value of money go to work and increase their winnings.So why then would you opt to get paid on your business sale over several years rather than take a lump sum payout?The answer is probably because you didn't know that you could get cash for your business note. Getting The Best Home Equity Loan Owing to the popularity of home equity loans, there are numerous lending agencies offering a variety of mortgage products. A bad choice of mortgage can lead to disastrous effects, as there is a risk involved of foreclosure and losing one's home. Home Equity Loan - A Reverse Mortgage Could Provide a Comfortable Retirement! While only comprising about 1% of all mortgages, the reverse mortgage has gained in popularity in recent years. Federally insured since the late 1980's, the reverse mortgage allows owners of paid-off homes to borrow against the equity in their homes in the form of a lump sum, a line of credit, or in the form of monthly payments. How To Save Thousands in Interest on Your Home Mortgage! So you have a mortgage on your home or planning to get one? Here's something to consider if you want to reduce your interest payment and save on thousands of dollars. Consider going in for a bi-weekly mortgage payment plan. Escrow Accounts, Do You Absolutely Need One? With escrow accounts the money for your home insurance and property tax is added to your monthly mortgage payment and is paid out each year. With that said, you may think that having an escrow account takes the responsibility off your shoulders because the bank will make the payment for you each year from your escrow savings account. Total Cost Of Credit vs Monthly Payments I read a press release the other day which points to the fact we need to be very careful with our finances. The subject of the release was home mortgages. How to Get the Best Mortgage This is a guide on how to get the best mortgage deal. Do not rush into the first offer that is made to you even if you are in a hurry for a mortgage. Online Mortgage Brokers - What You Might Not Know About Home Loans & The Internet You may think that applying online for a mortgage is the same as applying with a broker in the 'real world', only more convenient.While applying for a mortgage online is much more convenient, and sure to help you get a lower rate because of the amount of competition online, there is another benefit to using the internet when applying for a loan. |
home | site map | contact us |