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November 29, 2006
Home Equity Loans to 125%: How Fixed Rate Second Mortgages Can Save You
Most likely, home values will rebound in the next few years, but 2007 and 2008 could be difficult for many homeowners seeking cash out through traditional home financing. 125% second mortgage loan remains a great way for homeowners that have no earned equity, to pay off their revolving credit cards and roll their high rate debts into one low monthly payment for noteable savings that can turn into thousands of dollars a year. Recently I was working with one of my favorite borrowers who was paying out over a $1,000 a month for $50,000 in credit cards alone. I was able to help them get approved for a 125% home equity loan that eliminated the compounding interest and rolled their seven credit cards debts into one payment that was reduced to $576 a
From Home Equity Loans to 125%: How Fixed Rate Second Mortgages Can Save You
Posted by Peter at November 29, 2006 05:27 PM
