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<title>Maria Ny - EzineArticles Expert Author</title>
<link>http://EzineArticles.com/expert/Maria_Ny</link>
<pubDate>Tue, 14 Feb 2012 18:43:35 -0600</pubDate>
<image><title>Maria Ny - EzineArticles Expert Author</title>
<link>http://EzineArticles.com/expert/Maria_Ny</link>
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<copyright>Copyright 2012 EzineArticles.com - All Rights Reserved.</copyright>
<description><![CDATA[EzineArticles.com is Trusted By Millions as The Source For Quality Original Articles]]></description>
<lastBuildDate>Wed, 12 Dec 2007 15:36:10 -0600</lastBuildDate>
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<item>
<title>FHA Home Mortgage Loans - Refinance Adjustable Rates and Debt</title>
<link>http://EzineArticles.com/877625</link>
<guid>http://EzineArticles.com/877625</guid>
<pubDate>Wed, 12 Dec 2007 15:36:10 -0600</pubDate>
<description><![CDATA[Homeowners across the nation continue to turn to cash out refinance and home equity loans for paying off high rate credit cards that are escalating out of control.  The Federal Reserve lowered key rates again yesterday, but many homeowners just can't take the combination of rising adjustable mortgage rates at the same as the increasing interest rates from their credit card companies. ]]></description>
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<item>
<title>Second Mortgage Loans Versus Compounding Credit Card Debt</title>
<link>http://EzineArticles.com/377445</link>
<guid>http://EzineArticles.com/377445</guid>
<pubDate>Tue, 05 Dec 2006 17:01:00 -0600</pubDate>
<description><![CDATA[Many people argue that the repayment period for a closed-end second mortgage is longer than that of credit cards. But, with penalty rates and fees tacked onto the compounding interest, many consumers are getting caught in the spiral of "negative amortization," which is what regulators call it when consumers make payments but balances continue to grow because of penalty costs. The new bankruptcy laws forced credit card companies to double their minimum payments, but that's not enough to reduce the principal quickly enough for people to pay their balances off in a timely manner. Instead, their balances continue to grow. So, it makes sense to go ahead and use the equity in your home to end this cycle by paying off credit cards with a closed-end second mortgage.
]]></description>
</item>
<item>
<title>Home Equity Loans Are Better for Your Credit than Consumer Credit Counseling</title>
<link>http://EzineArticles.com/370522</link>
<guid>http://EzineArticles.com/370522</guid>
<pubDate>Tue, 28 Nov 2006 06:19:38 -0600</pubDate>
<description><![CDATA[There are several significant problems with consumer credit counseling services. For example, each credit card company will report you late even with CCC, and late payments lower your credit scores. If you're going through a "debt settlement" specialist, credit companies report settled for less and not paid as agreed for your accounts. The worst problem is that many home equity lenders, mortgage brokers banks consider consumer credit counseling just like a bankruptcy.  Another way you can consolidate your bills is by refinancing your high-interest credit cards and personal loans into a home equity loan (second mortgage). Home equity loans offer lower interest rates than what you pay on your credit cards, especially if you're paying universal default rates. ]]></description>
</item>
<item>
<title>Home Equity Loans Versus Bankruptcy</title>
<link>http://EzineArticles.com/364297</link>
<guid>http://EzineArticles.com/364297</guid>
<pubDate>Mon, 20 Nov 2006 16:29:27 -0600</pubDate>
<description><![CDATA[Instead of going through this expense and hassle, not to mention the residual damage to your credit scores, why not get a bad credit home equity loan? Bad credit debt consolidation loans can help you keep your house by paying your past due debt, paying off collections and judgments, and not just preserving credit scores but actually raising them by lowering your debt ratio.]]></description>
</item>
<item>
<title>125% Home Equity Loan Solutions for Refinancing Compounding Interest</title>
<link>http://EzineArticles.com/364221</link>
<guid>http://EzineArticles.com/364221</guid>
<pubDate>Mon, 20 Nov 2006 15:17:13 -0600</pubDate>
<description><![CDATA[Credit card debts can mount up and get out of control quickly, to the point that you may even be considering bankruptcy. With the new bankruptcy laws making the filing of bankruptcy so much more complicated and expensive, you may be wondering what your options are. For those with good credit and stable income, consolidating revolving debt with 125% home equity loans, also known as 125 percent loans or simply 125 loans, can make sound financial sense.  If you're planning to stay in your home for three years or more, the 125% second mortgage loan is a great way to refinance high rate credit cards, lower monthly payments and save money.
]]></description>
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<item>
<title>Second Mortgage Refinance Tips</title>
<link>http://EzineArticles.com/350122</link>
<guid>http://EzineArticles.com/350122</guid>
<pubDate>Tue, 07 Nov 2006 11:30:02 -0600</pubDate>
<description><![CDATA[Most homeowners apply for a second mortgage or home equity credit line when they need money for consolidating bills and refinancing credit cards.  Some borrowers seek second mortgages for financing home construction or making home improvements.  Most people who own a home will consider remodeling and making home improvements at some point in the first 5 years of owning the home. These days, the most popular second mortgages are fixed interest rate equity loans that are also consider simple interest installment loans or second liens.]]></description>
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<item>
<title>Consolidating Bad Credit and Debt with Home Equity Loans</title>
<link>http://EzineArticles.com/350109</link>
<guid>http://EzineArticles.com/350109</guid>
<pubDate>Tue, 07 Nov 2006 10:36:54 -0600</pubDate>
<description><![CDATA[The new bankruptcy laws mandate that all debtors must get credit counseling with an agency approved by the United States Trustee's office before they can file for bankruptcy. Once the bankruptcy case is over, all debtors must attend additional counseling on budgeting and debt management before bankruptcy discharge of debts can occur.  So, if you are a homeowner a home equity loan may provide you some relief by saving you money on interest when you refinance your revolving debt into  a fixed simple interest home equity loan.  You may want to consider refinancing your home or taking out a second mortgage loan to eliminate your credit card debt and secured loans, especially if the new law for minimum payments has you considering bankruptcy.]]></description>
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<item>
<title>California Home Market Rebounds with Declining Mortgage Rates for Refinance &amp; Home Equity Loans</title>
<link>http://EzineArticles.com/322650</link>
<guid>http://EzineArticles.com/322650</guid>
<pubDate>Tue, 10 Oct 2006 20:07:07 -0500</pubDate>
<description><![CDATA["The market is as vulnerable today as the last time we had this stretched affordability in 1989," says David Rosenberg, a Merrill Lynch economist. "It might not be on the same par as the equity bubble in the late 90's, but it's not far off."  According to loan officer Lynda Nelms, "second mortgage and home equity loan rates may continue to drop."  Will the declining rates spark a California housing market rebound?
 ]]></description>
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<item>
<title>Interest-Only Home Equity Lines of Credit and Second Mortgage Refinancing</title>
<link>http://EzineArticles.com/323665</link>
<guid>http://EzineArticles.com/323665</guid>
<pubDate>Tue, 10 Oct 2006 11:57:09 -0500</pubDate>
<description><![CDATA[Interest only home equity lines are not just for purchase loans. Many people refinance with interest-only loans to lower payments and consolidate debt. There are also several varieties of interest-only home equity loans or second mortgages. At this time interest only options are not available with government mortgage like FHA or VA.]]></description>
</item>
<item>
<title>Debt Consolidation Tips: Maximizing the Equity in Your Home with a Second Mortgage Loans</title>
<link>http://EzineArticles.com/296995</link>
<guid>http://EzineArticles.com/296995</guid>
<pubDate>Tue, 12 Sep 2006 09:31:50 -0500</pubDate>
<description><![CDATA[Are you moving within the next 3 years? If not refinance your debt that has compounding interest rates. Refinancing your existing home loan with a cash-out option or taking out a home equity loan as a second mortgage can provide ways to consolidate high-interest consumer debt at a lower rate. Also, the interest you repay on the refinance or home equity loan may be up to 100% tax deductible.]]></description>
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<item>
<title>2nd Mortgage Equity Loans Behind a Payment Option Home Mortgages</title>
<link>http://EzineArticles.com/296338</link>
<guid>http://EzineArticles.com/296338</guid>
<pubDate>Mon, 11 Sep 2006 18:13:18 -0500</pubDate>
<description><![CDATA[One of the least known facts about option ARMs is that getting a second mortgage behind these neg am loans can be extremely difficult. A negative amortization loan places a second mortgage lender in a more precarious position than when loaning behind any other type of loan. Thus, a neg am can hold you hostage because very few lenders will go behind a negative amortization 1st. Lending underwriters calculate the1st mortgage balance by gross up balance 115% or 125% depending upon the mortgage note, so you should consider whether you may need a second mortgage before you get a payment option mortgage with a 1% start rate.
]]></description>
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<item>
<title>Refinancing Revolving Debt with 100% Home Equity Loans</title>
<link>http://EzineArticles.com/296346</link>
<guid>http://EzineArticles.com/296346</guid>
<pubDate>Mon, 11 Sep 2006 18:07:20 -0500</pubDate>
<description><![CDATA[The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 makes it harder and more expensive to file for bankruptcy. Under this Act, credit card companies are now charging double for minimum payments and exorbitant universal default rates for missed payments. As a result, people are doing debt consolidation with home equity loans and mortgage refinancing by the droves.  You may qualify for a 100% home equity loan. Then, you can use your home equity to refinance high rate credit cards, lowering monthly payments, so you can enjoy lowered interest and more money in your pocket.]]></description>
</item>
<item>
<title>Refinancing Credit Card Debt with a Debt Consolidation Loan Secured with a Second Mortgage</title>
<link>http://EzineArticles.com/293296</link>
<guid>http://EzineArticles.com/293296</guid>
<pubDate>Fri, 08 Sep 2006 06:54:00 -0500</pubDate>
<description><![CDATA[With rising gas prices and the cost of living spiraling out of countrol, many people are having a hard time making it from paycheck to paycheck.  Many people are combating rising credit card interest rates and avoiding harassing bill collectors by refinancing credit card debts with cash out second mortgages and debt consolidation loans. Particularly if you are paying one or more universal default rates, the lowered interest alone will result in lower payments and significant monthly savings. For those with good rates on their existing mortgages, refinancing revolving debt through home equity loans (second mortgages) still results in significantly lowered interest compared with credit card rates and noticeably lower payments each month.]]></description>
</item>
<item>
<title>Establishing a Home Equity Line of Credit to Finance Home Improvements and Construction</title>
<link>http://EzineArticles.com/286198</link>
<guid>http://EzineArticles.com/286198</guid>
<pubDate>Wed, 30 Aug 2006 19:01:32 -0500</pubDate>
<description><![CDATA[Home equity lines of credit are popular financing tools used as home improvement and construction loans.  Borrowers love the fact that you only pay interest on the equity you use, and you can draw from your credit line more than once without having to apply for a new loan each time, so you can pay each contractor as needed.  Don't forget that the APR for a HELOC is based on the interest rate alone. They do not reflect the closing costs and other fees, so you'll need to compare these costs in addition to the APR when shopping for a second mortgage loan.

]]></description>
</item>
<item>
<title>Putting Your Home Equity in Reverse for a Pay-Check?  Reverse Mortgage Loan Tips</title>
<link>http://EzineArticles.com/286123</link>
<guid>http://EzineArticles.com/286123</guid>
<pubDate>Wed, 30 Aug 2006 18:58:58 -0500</pubDate>
<description><![CDATA[A reverse mortgage (RM) is quite literally a regular mortgage in reverse. With a regular mortgage, you typically make a down payment then make regular monthly payments on your house. Your equity increases as your debt decreases. A reverse mortgage gives the "borrower" a check each month for loss of equity in the home or gives it:]]></description>
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<item>
<title>Second Mortgage Fee Restrictions in Maryland</title>
<link>http://EzineArticles.com/283923</link>
<guid>http://EzineArticles.com/283923</guid>
<pubDate>Mon, 28 Aug 2006 16:20:21 -0500</pubDate>
<description><![CDATA[Like California, the state of Maryland is imposing excessively strict predatory lending laws including the imposition of a max 7.99% annual percentage rate (APR) limit which is lower than that of other states. Maryland also has a finder's fee law that limits the fee a mortgage broker's finder's fee to 8% of the total loan amount brokered, and limits the fee on subsequent loans on the same property in a twenty-four month period to 8% of the amount by which the subsequent loan exceeds the initial loan.]]></description>
</item>
<item>
<title>Why Second Mortgage Rates Are Higher for Home Equity Loans than 1st Mortgages</title>
<link>http://EzineArticles.com/281470</link>
<guid>http://EzineArticles.com/281470</guid>
<pubDate>Fri, 25 Aug 2006 09:55:01 -0500</pubDate>
<description><![CDATA[Many people wonder why the interest rates for second mortgages are higher than those for first mortgages. The reason for this is a second mortgage is a subordinate loan secured by the same property as the first mortgage. Thus, if the mortgage isn't paid and there is a foreclosure on the property, the first lender is paid off before the second lender. As a result, second mortgages entail more risk for the lender. To offset the risk, lenders charge higher interest rates for second mortgages than for first mortgages.]]></description>
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<item>
<title>Private Second Mortgages that Are Silent</title>
<link>http://EzineArticles.com/281488</link>
<guid>http://EzineArticles.com/281488</guid>
<pubDate>Fri, 25 Aug 2006 09:15:14 -0500</pubDate>
<description><![CDATA[A silent second mortgage is typically a second mortgage offered at preferential (subsidized) terms to those who qualify. These are generally offered by the state through one of three federally authorized programs, the Mortgage Revenue Bond (MRB) program. These programs typically entail a 97% FHA loan and a 3% silent second mortgage that is offered at below-market rates or forgiven entirely after a certain period of time. 
]]></description>
</item>
<item>
<title>Understanding Tax Deductions for Second Mortgage and Home Equity Loan Interest</title>
<link>http://EzineArticles.com/276765</link>
<guid>http://EzineArticles.com/276765</guid>
<pubDate>Tue, 22 Aug 2006 12:15:08 -0500</pubDate>
<description><![CDATA[Let us take a minute and understand tax deductions for second mortgage and home equity loan interest.  Loans secured by subsequent homes (e.g., third or fourth homes) do not qualify. A home, according to the Internal Revenue Service (IRS), must be a house, condominium, cooperative, mobile home, boat, recreational vehicle or similar property that has sleeping, cooking and toilet facilities.
]]></description>
</item>
<item>
<title>State Fee Limits for Second Mortgages in California</title>
<link>http://EzineArticles.com/268369</link>
<guid>http://EzineArticles.com/268369</guid>
<pubDate>Mon, 14 Aug 2006 16:48:26 -0500</pubDate>
<description><![CDATA[Everywhere you go, advocacy groups are urging stricter laws on non-conforming 2nd mortgages and home equity loans. Sub-prime mortgages are likely to be more costly than "A -paper" loans, but they are intended for borrowers who pose a greater risk to lenders.  In most cases they are considered non-conforming because of the lack of credit or past credit problems. ]]></description>
</item>
<item>
<title>Compensating Factors for Getting Second Mortgage Loans Approved Online</title>
<link>http://EzineArticles.com/261068</link>
<guid>http://EzineArticles.com/261068</guid>
<pubDate>Sat, 05 Aug 2006 10:00:45 -0500</pubDate>
<description><![CDATA[There are many factors involved with getting approved for a second mortgage loan including being at the same residence for many years, being at the same job for many years, as well has having low debt to income ratio, high liquid reserves or significant residual income and a high credit score. Your earnings are also considered.
]]></description>
</item>
<item>
<title>Pros and Cons of Getting a Second Mortgage to Avoid Jumbo Mortgage Loan Rates</title>
<link>http://EzineArticles.com/257116</link>
<guid>http://EzineArticles.com/257116</guid>
<pubDate>Mon, 31 Jul 2006 11:26:57 -0500</pubDate>
<description><![CDATA[You can avoid a jumbo loan by taking out a piggyback loan (1st and "piggyback" 2nd mortgage). Similar to jumbo loans, there's no PMI with the piggyback 2nd mortgage. The advantages of two loans are that your interest rates and points could be lower than for a jumbo loan, depending on your FICO score and other factors. Qualification is a little easier, too. Also, because the loans generally are through the same lender and close at the same time, closing costs on the 2nd are usually very low. ]]></description>
</item>
<item>
<title>Pick a Payment Mortgage:  Super 1% Low Rate Home Loan Options</title>
<link>http://EzineArticles.com/253164</link>
<guid>http://EzineArticles.com/253164</guid>
<pubDate>Wed, 26 Jul 2006 16:11:44 -0500</pubDate>
<description><![CDATA[Pick a Payment mortgage loans are also known as option ARMs (adjustable rate mortgages), payment option ARMs, 12-month MTAs, cash flow ARMs and other titles. These types of mortgages offer such features as initial interest rates as low as 1%.  "An option ARM may provide flexibility for home buyers with uneven incomes, such as those who work on commission or receive a year-end bonus," says Jim Kelly, executive vice president of ING Direct. Borrowers gain more control over their monthly cash flow. For example, you can use the minimum payment option to help you pay off debt and then later switch back to a 15 or 30 year fixed payment. ]]></description>
</item>
<item>
<title>How a Home Equity Line of Credit Can Finance Your Start-Up Business</title>
<link>http://EzineArticles.com/250753</link>
<guid>http://EzineArticles.com/250753</guid>
<pubDate>Mon, 24 Jul 2006 15:03:59 -0500</pubDate>
<description><![CDATA[Finding the cash you need to get your business off the ground can be a frustrating experience frustrating. Most lenders require a solid business history and business assets to approve a loan. Because of this, many new business owners often use personal savings or credit cards to fund start-up costs. But, paying credit card interest rates that can amount to 20% or more and draining your personal savings can be a real killer. HELOC's are powerful home equity loans that can help jump-start your business.]]></description>
</item>
<item>
<title>Credit Tips:  Home Refinance for Cash Out or Home Equity Loan?</title>
<link>http://EzineArticles.com/250739</link>
<guid>http://EzineArticles.com/250739</guid>
<pubDate>Mon, 24 Jul 2006 15:02:57 -0500</pubDate>
<description><![CDATA["Sub-prime [bad credit] mortgage lending rose 60% last year," said SMR vice president George Yacik, "to $516 billion." One of the most common reasons for this: debt consolidation. With the new, more complicated and expensive bankruptcy laws in effect and credit card companies doubling their minimum monthly payments, people are looking for other ways to get out from under high-interest debts.  Tapping into your home equity is an effective way for you to pay off debt (including credit card debts and high-interest loans) and raise your FICO score. ]]></description>
</item>
<item>
<title>Negative Amortization Loans: Deferred Interest Mortgages Can Help You Finance Your Dream Home</title>
<link>http://EzineArticles.com/247990</link>
<guid>http://EzineArticles.com/247990</guid>
<pubDate>Fri, 21 Jul 2006 05:54:41 -0500</pubDate>
<description><![CDATA[Negative amortization, or "deferred interest," describes loans that have payment adjustment caps in addition to interest rate adjustment caps. Negative amortization loans calculate two interest rates. The first is called the payment rate the second is the actual interest rate. The payment rate is typically capped at 7.5% of the previous payment. The true interest rate is calculated as simply the index plus the margin without periodic caps. When the interest rate resets to a higher rate with a negative amortization Adjustable Rate Mortgage (ARM), the mortgage payment doesn't change. Instead, the additional interest expense is added to the loan balance.]]></description>
</item>
<item>
<title>Getting a Second Mortgage Loan to Avoid Mortgage Insurance</title>
<link>http://EzineArticles.com/247995</link>
<guid>http://EzineArticles.com/247995</guid>
<pubDate>Fri, 21 Jul 2006 05:01:43 -0500</pubDate>
<description><![CDATA[If you buy a house with less than 20% down or if you haven't built up at least 20% equity before mortgage refinancing, you'll typically have to pay private mortgage insurance (PMI). This protects the lender in case you default on the mortgage loan. "A piggyback mortgage is a second mortgage that closes simultaneously with the first," explains Chris Larson, chief executive officer with E-Loan, an online provider of consumer loans based in Dublin, Calif. A piggyback mortgage is also known as an 80-10-10 loan because it involves a first mortgage for 80% of the purchase generally offered at a lower rate, a second trust loan (second mortgage) for 10% at a slightly higher rate and the remaining 10% as a down payment.]]></description>
</item>
<item>
<title>Should I Refinance my Adjustable Rate Mortgage Now or Wait for the Interest Rates to Drop?</title>
<link>http://EzineArticles.com/240326</link>
<guid>http://EzineArticles.com/240326</guid>
<pubDate>Mon, 10 Jul 2006 19:32:47 -0500</pubDate>
<description><![CDATA[With interest rates on the rise, many people are wondering if they should refinance their adjustable rate mortgages (ARMs), especially since about one in four mortgages will have their interest rates reset in 2006 or 2007. This means your interest rate is adjusting, and probably sooner than you think, especially if you're holding 2/28 or 3/27 hybrid ARM. You know your payment is increasing, maybe to as much as $300 per month, as the rates continue to rise. So, now the question is whether to refinance into an interest only mortgage, another ARM or go with a fixed rate mortgage.]]></description>
</item>
<item>
<title>Can Debt Consolidation Help Increase my FICO Score?</title>
<link>http://EzineArticles.com/240336</link>
<guid>http://EzineArticles.com/240336</guid>
<pubDate>Mon, 10 Jul 2006 19:04:48 -0500</pubDate>
<description><![CDATA[Credit card debt and revolving charges determines 30% of your FICO scores. High balances or, more precisely, balances that are close to your credit limit can negatively affect your personal credit scores. Thus, one of the best ways to improve your credit rating is by paying off outstanding debts. A debt consolidation loan by means of mortgage refinancing or a home equity loan (second mortgage) can help you do this. On top of that, you may be able to deduct up to 100% of the interest you pay from your taxes. With the new, tougher bankruptcy laws in effect, consolidating your credit card debt with a second mortgage or home equity loans and other consumer debt is a far better option for debt relief than bankruptcy.]]></description>
</item>
<item>
<title>Sub Prime Mortgage Tips: Home Equity Loan Consolidation for People with Less than Perfect Credit</title>
<link>http://EzineArticles.com/240319</link>
<guid>http://EzineArticles.com/240319</guid>
<pubDate>Mon, 10 Jul 2006 15:43:17 -0500</pubDate>
<description><![CDATA[Refinancing your mortgage is an effective way to rebuild your credit, particularly if you have recently declared bankruptcy or otherwise have bad credit. With more relaxed underwriting standards, you may be able to get a home equity loan through a sub prime lender, sometimes known as "damaged credit" specialists, as early as six months after your bankruptcy discharge.

Lenders classify borrowers into the following credit categories based upon their credit scores. These categories may vary slightly among lenders. Sub prime lenders offer B, C, and D credit, which means they offer credit to high-risk borrowers. For taking on these high-risk loans, sub prime lenders charge somewhat higher interest rates and fees.

]]></description>
</item>
<item>
<title>Bill Consolidation Tips: Best 2nd Mortgage &amp; Equity Loans for Debt Consolidation</title>
<link>http://EzineArticles.com/240310</link>
<guid>http://EzineArticles.com/240310</guid>
<pubDate>Mon, 10 Jul 2006 15:21:15 -0500</pubDate>
<description><![CDATA[With the new bankruptcy laws being in effect since last October, credit card companies are doubling their minimum payment requirements. For people already stretched to their financial limits, this can be devastating. The new laws also make it more expensive and time-consuming to file for bankruptcy, which has consumers looking for alternate means of debt relief.  These home equity loans are popular ways of consolidating high interest debts into a single loan with lower payments.  If you have good credit, you may qualify for an unsecured personal loan. 
]]></description>
</item>
<item>
<title>Fixed Rate Second Mortgage - Smart Loan Solutions For Debt Consolidation</title>
<link>http://EzineArticles.com/219133</link>
<guid>http://EzineArticles.com/219133</guid>
<pubDate>Mon, 10 Jul 2006 14:38:53 -0500</pubDate>
<description><![CDATA[Bill consolidation loan volumes have been increasing as people are looking to free up cash with reduced monthly payments.  The goal most homeowners have is to consolidate their credit card bills into a simple interest loan with a lower payment. People wonder if they should wait to save up enough money to consolidate their debt at once without using a home equity loan to consolidate their high interest debts. The problem with that in most cases people have 2 or 3 times as much debt as they think they have. Most people don't realize that they are not making enough money each month to accomplish paying off their debt without a second mortgage.]]></description>
</item>
<item>
<title>Fixed Rate Home Equity Loan Versus Adjustable HELOC: Comparing 2nd Mortgage Loans</title>
<link>http://EzineArticles.com/240159</link>
<guid>http://EzineArticles.com/240159</guid>
<pubDate>Mon, 10 Jul 2006 11:42:20 -0500</pubDate>
<description><![CDATA[Many people think of a second mortgage as a fixed interest, lump sum loan. However, that is only one form of a second mortgage. A second mortgage is actually ANY secondary lien on your home--secured loan with your home pledged as collateral. Second mortgages are typically categorized as fixed mortgage rate home equity installment loans (HELs), also known as home equity loans, and home equity lines of credit (HELOCs) which are adjustable rate mortgages.  The Federal Reserve states that the home equity line of credit annual percentage rate (APR) is a variable rate loan based solely on a publicly available index (such as the prime rate published in the Wall Street Journal or a U.S. Treasury bill rate). 
]]></description>
</item>
<item>
<title>FHA Mortgage Loan versus Conventional Mortgage Refinance for Debt Consolidation</title>
<link>http://EzineArticles.com/236866</link>
<guid>http://EzineArticles.com/236866</guid>
<pubDate>Wed, 05 Jul 2006 12:27:29 -0500</pubDate>
<description><![CDATA[Similar to conventional loans, FHA mortgages require mortgage insurance. Conventional loan mortgage insurance is cancelable under most circumstances once you build at least 20% equity in your home. The FHA states that, in most cases, FHA insurance will drop off after five years or when the remaining balance on the loan is 78 percent of the value of the property, whichever is longer.

The FHA loan program, similar to conventional loan programs, allows for mortgage refinancing of owner occupied properties as fixed mortgage rate loans and adjustable rate mortgages (ARMs). Similar to conventional refinances, FHA refinances can be used for such purposes as: Home Improvements and refinancing first and second mortgages together into one loan.]]></description>
</item>
<item>
<title>Why Internet Mortgage Loan Leads are Better than Telemarketing Leads</title>
<link>http://EzineArticles.com/236853</link>
<guid>http://EzineArticles.com/236853</guid>
<pubDate>Wed, 05 Jul 2006 09:10:34 -0500</pubDate>
<description><![CDATA[Seasoned mortgage brokers and lenders know they must always be working with up-to-date, accurate and qualified home purchase leads, refinance leads, debt consolidation leads, second mortgage leads, home equity leads, and other loan prospects to generate a constant stream of new clients and remain successful. However, in today's volatile mortgage lead generation market, lenders today are concerned with the quality of their leads.  The Internet is gaining popularity as a way to shop for mortgage loan products, as people are getting more wary of telemarketers. Lenders are also enjoying cost effective online leads that are constantly delivered to them in real time right after they are generated.]]></description>
</item>
<item>
<title>125% Home Equity: No Equity Second Mortgage Loans for First Time Home Buyers</title>
<link>http://EzineArticles.com/235332</link>
<guid>http://EzineArticles.com/235332</guid>
<pubDate>Mon, 03 Jul 2006 10:42:28 -0500</pubDate>
<description><![CDATA[A 125% home equity loan (also known as no equity loans, 125 home equity loans and 125 loans) is a second mortgage that requires no equity but the loan allows you to borrow up to 125% more than the current combined loan to value (CLTV) ratio of your home. The CLTV is the proportion of more than one loan secured by your home in relation to its value. This is different than loan to value (LTV), which only involves the proportion of a single loan in relation to its value.  125% home equity loans typically require that the borrower has good credit. However, even if your credit is less than perfect, you may still be able to qualify for a 125% home equity loan. If not, you may want to consider mortgage refinancing or a standard second mortgage loan once your FICO credit scores improve
]]></description>
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<title>Home Equity Loan Versus Business Loan</title>
<link>http://EzineArticles.com/229866</link>
<guid>http://EzineArticles.com/229866</guid>
<pubDate>Mon, 26 Jun 2006 20:13:30 -0500</pubDate>
<description><![CDATA[Money is essential for all businesses to start up, operate and expand. The Small Business Administration (SBA) states that while poor management is cited most frequently as the reason businesses fail, inadequate or ill-timed financing is a close second.  Ideally, it's best to start your business on money you have in savings or otherwise liquid. But, like most people, you probably don't have that much money available and you'll need a loan. About the only way a startup business can get a bank loan is through one of the loan programs offered by the SBA, a federal agency that doesn't actually loan money directly, but rather guarantees the payback of a certain percentage to banks.  Home equity loans (second mortgages) are cost-effective ways of getting startup capital because they generally offer lower interest rates, the choice of a fixed mortgage rate or an adjustable rate mortgage (ARM) and shorter repayment terms and lower payments than other business loans.]]></description>
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<title>Refinance? Home Equity Loans? Personal Unsecured Loan? Best Loans for Homeowners to Cash Out</title>
<link>http://EzineArticles.com/229596</link>
<guid>http://EzineArticles.com/229596</guid>
<pubDate>Mon, 26 Jun 2006 16:22:22 -0500</pubDate>
<description><![CDATA[People need or want extra cash for a variety of reasons. For some, the extra cash provide them with a feasible way to pay off high-interest debts and loans, for others the extra money offers them a way to improve or build onto their primary homes, or buy second homes for investment properties or vacation homes.  Both mortgage refinancing and home equity loans allow homeowners to choose between a fixed mortgage rate and one of several adjustable rate mortgages (ARMs). But, home equity loans give you more flexibility on how much equity you want to cash out and loan repayment time options than mortgage refinances.  If you are a homeowner needing a large sum of money, a mortgage refinance or 2nd mortgage would be your best bet. ]]></description>
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<title>Equity Loan Tips for Consolidating Debt With a Second Mortgage</title>
<link>http://EzineArticles.com/229501</link>
<guid>http://EzineArticles.com/229501</guid>
<pubDate>Mon, 26 Jun 2006 16:09:14 -0500</pubDate>
<description><![CDATA[As a result of the Bankruptcy Abuse and Consumer Protection Act which was passed in early 2005, filing for bankruptcy has become difficult, time consuming and expensive. However, because of the tax deduction benefits and the fact that housing prices have skyrocketed in recent years, the home equity loan (second mortgage) has become an increasingly popular way for consumers to borrow money for debt consolidation purposes, especially with the continued increases in interest rates on credit cards.  The average household now has nearly $10,000 in credit card debt, and borrowing against the equity of your house can provide much-needed relief with lower payments, as well as a tax deduction that could equal 100% of the interest you pay on your loan--something that credit card and other non-mortgage debts can't offer. Second mortgage loans can also be used to refinance high rate loans like auto loans and bad credit student loans, as well as variable rate loans. ]]></description>
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<title>Home Improvement: Home Equity Line of Credit versus Mortgage Refinance</title>
<link>http://EzineArticles.com/229491</link>
<guid>http://EzineArticles.com/229491</guid>
<pubDate>Mon, 26 Jun 2006 13:11:30 -0500</pubDate>
<description><![CDATA[Making home improvements, home remodeling, adding onto a home and debt consolidation are some of the most popular reasons people cash out on their home equity.  People refinance their mortgages for a variety of reasons including, refinancing from adjustable rate mortgages (ARMs) to fixed interest rate ones, liquidating equity into cash (cash-out refinance) or to reduce monthly payments and extend the loan term.  HELOC second mortgages provide you with the flexibility of borrowing all or part of your equity and you only pay interest on what you use unlike a HEIL or refinance. Because HELOCs work like credit cards, you can pay down your balance and borrow again without having to apply for a new loan.]]></description>
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<title>Equity Loan Advice: Home Improvement Tips for Getting Your Home Ready to Sell</title>
<link>http://EzineArticles.com/224536</link>
<guid>http://EzineArticles.com/224536</guid>
<pubDate>Tue, 20 Jun 2006 15:48:40 -0500</pubDate>
<description><![CDATA[Many realtors offer basic advice on getting your home ready to sell like making your house like a blank canvas that allows buyers to view it as their potential home by cleaning, removing clutter, and putting away family photos and other items that personalize your home to you and your family in storage.  When budgeting for improving the curb appeal of your home, keep the following in mind: the first priority is to clean, landscape and paint. Then, with what's left, take care of any necessary repairs. ]]></description>
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<title>Bad Credit Loan Tips:   When Should I Refinance My Mortgage if I Have Low Credit Scores?</title>
<link>http://EzineArticles.com/224528</link>
<guid>http://EzineArticles.com/224528</guid>
<pubDate>Tue, 20 Jun 2006 15:46:37 -0500</pubDate>
<description><![CDATA[If you have a low FICO score due to recent bankruptcy or for other reasons, tapping into your home equity could provide you with the lowest possible interest rate for consolidating credit card debt and other loans you may have, including a home equity loan (second mortgage). Bad credit debt consolidation loans and mortgage refinancing at least a few extra percent on the interest rate - sometimes as much as 5% more. Once you've established a good credit history for three years, you may want consider refinancing again for a better rate. Making regular payments, building cash reserves, and lowering your debt will allow you to qualify for lower interest rates in the future.
]]></description>
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<title>Financing a Second Home:  2nd Mortgage Loan Versus Refinance</title>
<link>http://EzineArticles.com/224027</link>
<guid>http://EzineArticles.com/224027</guid>
<pubDate>Tue, 20 Jun 2006 11:03:18 -0500</pubDate>
<description><![CDATA[Second homes account for a full 40% of all homes sold in America. According to a recent annual report by the National Association of Realtors (NAR), 27.7% of all homes purchased in 2005 were investment properties and 12.2% were vacation homes. About 65% of second-home owners surveyed by the NAR said they considered their second homes better investments than stocks, and 29% said they planned to buy additional properties within two years.  Cash-out mortgage refinancing and second mortgages are typically the ways homeowners finance second home down payments, home improvements and home construction on primary residences and second homes.]]></description>
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<title>Credit Card Payments Increasing? Advice for Consolidating Debt with an Equity Loan &amp; Second Mortgage</title>
<link>http://EzineArticles.com/223630</link>
<guid>http://EzineArticles.com/223630</guid>
<pubDate>Tue, 20 Jun 2006 08:23:45 -0500</pubDate>
<description><![CDATA[Regulators with the Office of the Comptroller of the Currency began pressuring card issuers to raise minimum monthly payments. The new law for minimum payments went into effect at the end of 2005, and several credit card companies have already doubled their minimum monthly payments from 2% to 4%.  If you are a homeowner, you may want to consider a debt consolidation loan through a mortgage refinance or home equity loan (second mortgage) because it will not only reduce your debt, but you also may get a 100% tax deduction on the interest you pay on your loan. 
]]></description>
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<title>Mortgage Loan Tips: How to Rebuild Bad Credit after a Bankruptcy</title>
<link>http://EzineArticles.com/223674</link>
<guid>http://EzineArticles.com/223674</guid>
<pubDate>Tue, 20 Jun 2006 08:04:50 -0500</pubDate>
<description><![CDATA[According to both the Bankruptcy Code and the Fair Credit Reporting Act (FCRA), information on a Chapter 7 and Chapter 13 bankruptcy can remain on your credit profile for 10 years from the commencement of the case.  Many people find that when their Chapter 7 bankruptcies discharge, their credit reports still show several, if not all, accounts as open and overdue instead of being closed with the obligation wiped out as part of the bankruptcy. Contacting the credit bureaus and insisting that those accounts be properly reported as "included in bankruptcy" will help lessen the damage by a surprising amount.  Did you know that getting a mortgage or a home equity loan (second mortgage) also helps rebuild your credit?
]]></description>
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<title>Second Mortgage Analysis -  Fixed-Rate Equity Loan Versus a Home Equity Line of Credit</title>
<link>http://EzineArticles.com/213199</link>
<guid>http://EzineArticles.com/213199</guid>
<pubDate>Mon, 05 Jun 2006 13:13:45 -0500</pubDate>
<description><![CDATA[Some of the advantages of both home equity loans and home equity lines include lower interest rates and potential tax savings, and both offer interest only payment options in case you are short on cash. With a home equity loan, you get a lump sum at the beginning of the loan that you start paying back immediately. A HELOC gives you a revolving, variable interest rate credit line that you don't start paying back until you start using the line of credit.]]></description>
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<title>Home Equity Line of Credit - Market Trends for the Prime Rate Index</title>
<link>http://EzineArticles.com/213239</link>
<guid>http://EzineArticles.com/213239</guid>
<pubDate>Mon, 05 Jun 2006 13:12:00 -0500</pubDate>
<description><![CDATA[The U.S. Federal Reserve has raised interest rates five times since June, with more hikes being predicted. Short-term interest rates raised 15 times over the past two years and rates on home equity lines of credit are at a five-year high. ]]></description>
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<title>Government Mortgage Versus Conventional Home Loans - Mortgage Refinancing Differences</title>
<link>http://EzineArticles.com/213227</link>
<guid>http://EzineArticles.com/213227</guid>
<pubDate>Mon, 05 Jun 2006 12:47:28 -0500</pubDate>
<description><![CDATA[This article summarizes the differences between conventional and government loans for first-time buyers, homeowners looking for mortgage refinancing, and those looking to cash out on equity for loan consolidation, debt consolidation or home improvement through home equity loans]]></description>
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<item>
<title>Debt Consolidation - Pros and Cons of Paying of Debt with a Mortgage</title>
<link>http://EzineArticles.com/213218</link>
<guid>http://EzineArticles.com/213218</guid>
<pubDate>Mon, 05 Jun 2006 12:25:28 -0500</pubDate>
<description><![CDATA[With the new, tougher bankruptcy laws in effect, people are looking for alternate bill consolidation, loan consolidation and credit card consolidation solutions. Debt consolidation loans are one of the most popular ways for homeowners to consolidate their debts by means of mortgage refinancing. ]]></description>
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<item>
<title>Home Equity Loan Interest - Understanding Tax Deductibility for 2nd Mortgage Loans</title>
<link>http://EzineArticles.com/213235</link>
<guid>http://EzineArticles.com/213235</guid>
<pubDate>Mon, 05 Jun 2006 12:06:29 -0500</pubDate>
<description><![CDATA[Home equity loans and equity lines of credit are popular ways for homeowners to consolidate debts or to make home improvements on their primary residences, especially if they don't want to refinance because their first mortgage rates are low. Mortgage refinancing can also be expensive, making second mortgages and HELOCs much more attractive options.
]]></description>
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<item>
<title>Second Mortgage - Advantages and Disadvantages of Loan Consolidation</title>
<link>http://EzineArticles.com/208189</link>
<guid>http://EzineArticles.com/208189</guid>
<pubDate>Tue, 30 May 2006 07:55:58 -0500</pubDate>
<description><![CDATA[Whether you have good credit or bad credit, second mortgages allow for you to cash out on larger amounts of money at relatively low fixed mortgage interest rates, as compared with credit card rates and variable interest rate home equity lines of credit (HELOCs).]]></description>
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<item>
<title>Refinance and Second Mortgage Loan Options for People with Bad Credit</title>
<link>http://EzineArticles.com/204120</link>
<guid>http://EzineArticles.com/204120</guid>
<pubDate>Wed, 24 May 2006 06:47:08 -0500</pubDate>
<description><![CDATA[Just because you have poor credit doesn't mean you can't refinance your home mortgage loan.  Refinancing your home or adding a second mortgage can help your credit rebound significantly, and will often increase your credit scores with timely payments. ]]></description>
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<item>
<title>Refinancing Your Home Mortgage After a Bankruptcy</title>
<link>http://EzineArticles.com/203243</link>
<guid>http://EzineArticles.com/203243</guid>
<pubDate>Mon, 22 May 2006 20:37:22 -0500</pubDate>
<description><![CDATA[Six months after your bankruptcy has been discharged or finalized, you'll find that lenders are actually willing to refinance your mortgage. Particularly, if you have a variable interest rate home mortgage or second mortgage, refinancing could save you thousands of dollars because mortgage rates are quickly climbing, and now is the time to refinance into a fixed interest rate home loan.]]></description>
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<item>
<title>How to Improve Your Credit Score   -  Mortgage Loan Tips</title>
<link>http://EzineArticles.com/203006</link>
<guid>http://EzineArticles.com/203006</guid>
<pubDate>Mon, 22 May 2006 18:41:45 -0500</pubDate>
<description><![CDATA[Increasing your credit score takes time. Pay your bills on time to raise your score. Late payments and collections will lower your scores. Do not apply for credit cards frequently. Having too many inquiries worsens your score.  Reduce your credit card balances. Being "maxed" out affects your FICO score negatively.
]]></description>
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<item>
<title>Debt Consolidation Loans: Home Equity or Unsecured Loan?</title>
<link>http://EzineArticles.com/201613</link>
<guid>http://EzineArticles.com/201613</guid>
<pubDate>Fri, 19 May 2006 19:54:51 -0500</pubDate>
<description><![CDATA[Debt consolidation loans are a popular way for people to free up money each month by consolidating several monthly credit card payments into a single lower interest loan. But, the question is whether it's best to consolidate those debts into a home equity loan or an unsecured debt consolidation loan.
]]></description>
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<item>
<title>Second Mortgage Tips -   Useful Refinance Loan Advice</title>
<link>http://EzineArticles.com/201581</link>
<guid>http://EzineArticles.com/201581</guid>
<pubDate>Fri, 19 May 2006 19:40:49 -0500</pubDate>
<description><![CDATA[With mortgage interest rates rapidly rising, now may be the time to refinance your variable interest rate home equity line of credit (HELOC) or adjustable rate mortgage (ARM) home equity loan into a fixed interest rate second mortgage.  By refinancing your existing home equity loan or line of credit you could save a lot of money in the long run.]]></description>
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