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Understanding Countrywide Home Equity Loan

Brief history Countrywide is a diversified financial services company with mortgage banking at its core, founded in 1969 by two New Yorkers, Angelo Mozilo and David Loeb when they started the Countrywide Credit Industries. Expansion began in 1979, and by the next year, Countrywide had 40 offices in downtown Los Angeles, and in 1981, Countrywide Securities Corporation, a broker-dealer subsidiary that would sell securities backed by loans made was formed. Countrywide hit the $1 billion mark ........ Read More

Mortgages Loans, Home Equity Loans, And Refinacing

There are two types of mortgages, fixed rate mortgages and floating rate mortgages. As is obvious from their names, the fixed rate mortgages are ones where the monthly mortgage payment amount remains the same for the entire life of the mortgage i.e. till the end of mortgage term; whereas floating rate mortgages float/ change throughout the life of the home mortgage loan. The mortgage interest rate on the fixed rate mortgage loan is fixed at the start of Connecticut home mortgage loan term. Where........ Read More

Credit Cards Versus Home Equity Loans

If you own your home and pay a mortgage, you probably already know that there are certain income tax advantages for deductions such as interest payments made each month. And if you use a credit card, you know that there are no such perks available, even though credit card borrowing usually means paying much higher rates of interest, fees, and penalties. For some circumstances, especially when attractive interest rates are offered, the credit card can be a superior choice. If you happen to be o........ Read More

Home Equity Theft Through Contractors Still A Problem

Using the equity in your home to upgrade or improve the home itself is one of the most popular reasons for taking out a home equity loan. With some improvements, the value of the property increases by almost as much as the cost of the remodeling itself. That, combined with the fact that the interest on a home equity loan is deductible from Federal income tax, makes using home equity for improvements a smart idea. Unfortunately, some contractors see this idea as a great way for them to get a fi........ Read More

Home Equity Debt Consolidation Loans - 3 Things To Know

Decided to consolidate your debt with a Home Equity Loan? That may be a very smart idea! Consolidating your debt allows you to make just one monthly payment, and home equity loans tend to have low interest rates and tax perks too, which could save you money. But before you borrow from the equity in your home, remember these three things: It's not available to everyone. Just because you "own" your home doesn't mean you'll be able to get a Home Equity Loan. The equity you have equals the value o........ Read More

Is It Risky Taking Out A Home Equity Loan In 2006?

Is the party over for people looking for home equity loans? It may be, by the looks of the financial reports coming in from 2005. It seems that there was a slowing down in the housing market at the end of last year. House prices have started to slowly fall although they are still higher than they were last year and the number of people looking to take out new mortgages has started to decrease. Many home owners have had a bonanza this past couple of years by freeing up the increasing equity in t........ Read More

How To Choose Your Home Equity Line Of Credit Loan

When it comes to getting the equity out of your home, one of the best tools available may be the home equity line of credit (HELOC). While not for everybody, it can provide you with the equity in your home, access to cash, and a way to choose how much money you use. Not every HELOC plan, however, is equal. Here are some things to look for when you start looking for your mortgage. Home equity loans are a great way to take advantage of the equity in your home. Since you are not paying interest........ Read More

Bad Credit Home Equity Loans

So what do you do if you want funding to remodel your home, and don't having the monies to do so? The option is to get a loan. If you have a bad credit history it could have become difficult. This is rapidly changing. For families around the US, firms are offering bad credit home equity loans so their goals can actually turn into reality. Today banks, credit union and even credit card companies are cashing in on home equity loans. As a homeowner you need to be careful when choosing such a ........ Read More

Using Home Equity Loans To Make Home Improvements

Home improvement loans can provide money for a complete home remodel or specific home improvements. These upgrades can transform your house into a home and increase your property value. Another benefit is that the money is tax deductible. As long as you carefully evaluate your fincancial situation, you may use a home equity loan to make home improvements. Home improvement loans are not the same as construction loans. Construction loans provide financing for building and completion of a new st........ Read More

Home Equity Loan Scams - Watch Out For These Red Flags!

If you own your home, chances are that it is your most valuable asset. As with anything valuable, you must be conscious of protecting your home and its equity. Simply put, equity is the difference between the current value of your home and what you owe on it. For example, if you have a home that’s worth $200,000 and a mortgage for $150,000, it means you have $50,000 equity. Equity Grabbing - One of the most common scams is “equity grabbing”. In one example, a homeowner may be talked int........ Read More

How Wells Fargo Home Equity Loans Work

Wells Fargo & Company is a specialized financial services company based in San Francisco, and is a provider of insurance, mortgage, investments, banking, consumer finance catering to more than 23 million customers across the United States and a few other international countries. Wells Fargo’s distribution channels include 6,200 stores, the internet, and several other outlets. Being listed as one of the United States’ top-40 largest private employers, Wells Fargo has $500 billion in assets........ Read More

Home Equity Loan Refinancing

If you have lived in your home for more than two years, it has probably appreciated which means that you have built up equity. What is home equity? Home equity is the difference between the value of your home and the amount of all that you owe on your home. If your home has an appraised value of $200,000 and all of the outstanding liens against it total $150,000 then your home equity equals $50,000. Often times when a home has accumulated value, the homeowner decides to take some of that value o........ Read More

Tips For Home Improvement Home Equity Loan Financing

No one will argue that increasing the value of your home through home improvement projects is a great idea. However, large home improvement projects can become quite expensive. Home improvements lighten your wallet and empty your savings account. Careful planning and thinking about all your financing options is necessary before beginning your home improvement project. Below are a few tips for home improvement home equity loan financing to take into consideration. Home improvement home equity ........ Read More

Dangers Of Home Equity Loans

A home equity loan is very attractive to home owners since it can help increase immediate cash on hand, provide a way to fund repairs or renovations of the home, and offer an extended line of credit. A fixed rate equity loan can reduce monthly payments, and an extended line of credit can help pay down high-interest credit cards or personal debt. Still, there are some dangers of home equity loans. Some lenders and brokers can promise a lower interest rate or lower monthly payment, but the paym........ Read More

A Home Equity Loan Or A Home Equity Line Of Credit?

When you need the cash out of the equity in your home, you may find that there are a few choices that are before you. Should you go with a home equity loan, or would a home equity line of credit (HELOC) be better? Here are some features of both to help you decide which one may be better for you. If you are certain that you would like the cash out of your equity in one lump sum, then a home equity loan would be the better option for you. This means that if you know that you want the equity ri........ Read More


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