Own a House and Know About 2nd Mortgage Rates

Do you possess a home? Are you searching for a way to acquire some extra cash for home improvements, a dream vacation or to purchase a car? Right now, mortgage rates are at the lowest they have been in decades. The optimal time to look into receiving a 2nd mortgage would be now while current loan rates are so low. Applying for a home equity loan can be quick and painless. Even with bad credit, it may still be achievable to qualify for an equity line of credit.

When looking into acquiring a 2nd mortgage, it is wise to shop around and compare rates among various lenders. Home equity rates can vary greatly from lender to lender. Home equity loans may have a significantly higher rate than that of your primary mortgage because second mortgages can represent a high risk to the bank. Lenders possess many refinancing alternatives available. They can offer home equity loans with fixed rates or they may offer you a loan with an arm or adjustable rate mortgage. Information on the different rates and types of loans can be found online. You can even apply for an e-loan or receive quotes from several lenders from several references on your computer or if your more traditional then call up a lender in your local area.

Another choice you may wish to consider is mortgage refinancing. With loan rates being so low right now, mortgage refinance could lower your interest rate and your monthly payment. This could end up saving you thousands of dollars over the life of the loan, and save you from paying high interest when you could represent getting a rate that is much lower than your current rate.

Numerous home owners bought their homes years ago when rates were higher and have just continued making there regular monthly payments without even realizing that in the years since purchasing their houses their credit score may have improved. Auto loans and credit cards acquired since the purchase of your home, if payments were made on time and accounts were kept in good standing, could have made your credit score a lot higher than it one time was. Still if your credit score has not improved, by refinancing your current home loan now at a lower rate you could break out of the high rate you were originally locked in at.

Whether you determine to refinance your present mortgage or get a 2nd mortgage there are numerous options obtainable. You can apply online in only a second to see what types of home equity loans you qualify for or if you consider refinancing, what type of savings you could maybe be getting.

How the Auto Industry Bailout Affects Marriages

As I write this, our Congress is considering various ways to financially bail out the American auto industry. The approach Washington, DC is taking towards this humongous problem is similar to how most marriage counselors approach marital problems. Rather than address a problem’s source it is easier to address a problem’s symptoms.

The actual problem the automakers are having for instance, is that no one is buying their cars. If people started to buy their cars they would have cash flow and banks would start lending them money for future investment. The real problem that exists is that people aren’t buying cars because they don’t have enough money, credit or enough incentive. The government can cure two of these problems very easily.

1) The government can institute a tax credit to anyone who buys a domestically built car. If Congress passed such an incentive that reduced a families net income by 50% of the purchase price and allowed the person or family to take that credit over three years, there would be more people wanting to buy a car then there are cars available.
2) The government can set up a Fannie Mae type office for the purpose of guaranteeing auto loans based on certain flexible criteria.

But instead of getting right to the heart of the problem the government is dealing with a result of the problem, an ailing industry… Like an ailing marriage.

When you go to a marriage counselor you are not taught the basic requirements of being married. They try to treat with therapy something that should not even be occurring if not for breaking basic laws of marriage. It would be like using a frayed electrical cord over and over again while standing by with a first aid kit to treat the shock. When all you have to do is repair or replace the cord.

If you go to a marriage counselor, statistics show that 70% of you will be divorced within a year. The correct way to solve family issues is first by understanding the true relationship that exists between a husband and wife. Any approach that is indirect will likely fail. Being married is not like playing horseshoes, you don’t get points by being close enough. Rely on sound principles of marital happiness.

They work. All the time.

Don’t forget to tell your spouse and your children, “I love you.”