Comments on: Home Improvement Loan Increases the Value of your Home

By: Daisey M

Daisey M — Sat, 06 Feb 2010 16:04:26 +0000

If you consolidate your higher rate credit card and auto debt into a lower fixed rate home equity loan, then that is a good idea. But only if you still have a good amount of equity in your home after the additional debt (not just based off the new increased market value). Just be careful you are not borrowing too much against the value of your home since the real estate market seems to be cooling. I hope your mortgage is a fixed rate also. Lastly, since you say you don't like debt, I hope you cut up those credit cards after you pay them off with your home equity loan and don't accrue any other debt.

By: Anonymous

Anonymous — Sat, 06 Feb 2010 16:03:43 +0000

i use photoshop

By: Nadia

Nadia — Sat, 06 Feb 2010 11:26:02 +0000

I've received a newsletter sometime ago about "Benefits of a 125 Home Equity Loan". They give good tips what

to do, you may want to check at this http://loan-info1.blogspot.com/2009/01/home-equity-loan.html

Home Equity loan Source

http://loan-info1.blogspot.com/2009/01/home-equity-loan.html

source
others loan information
60-MINUTE Loan Modification
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By: jefe96us

jefe96us — Fri, 05 Feb 2010 21:47:37 +0000

I think it is just a bad idea to not work toward reducing your loan amount. In your case it may work out fine, but what if you end up 20 years from now still in the same place and prices did not dramatically increase? If you are like most people you will never pay more toward your home than you are forced to.

I bought my home one year ago on a 30 year fixed and only paid $1000 off this year. Next year it will be a little more and each year it edges up. On an interest only loan my payment would have only been $83 dollars less a month and twenty years from now it would still only be $83 dollars less a month with the only equity being my 20% down and the inflation that will likely (but not absolutely certainly) happen.

I guess I am saying that the forced savings of even a small amount is appealing to me.

By: WPBlog Shop

WPBlog Shop — Fri, 05 Feb 2010 02:46:47 +0000

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By: Sung A

Sung A — Thu, 04 Feb 2010 22:28:26 +0000

You may find it impossible to read everything before you sign it, but it is not impossble. I have done it several times. We take a break of an hour or so and I read every word. If you sign stuff blindly, the conclusion is that the terms don't matter to you and you would have signed it regardless of the terms.

By: Blogger

Blogger — Thu, 04 Feb 2010 18:51:23 +0000

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By: KmmK

KmmK — Thu, 04 Feb 2010 17:32:39 +0000

You probably don't want to refinance completely, and pay a ton of closing costs again.

Call some of your local banks and a broker or two, and find out about refinancing your second mortgage.

Some banks will only let you get a higher value based on the actual cash improvements you put in the home, by verifying receipts, unless it's been one year since purchase. This is called "seasoning". Ask what their seasoning requirements are for their second mortgages.

Some will let you use any new appraised value, regardless of how long you've owned the home. This is more rare but it's out there, you just gotta find it. Some may take a new appraised value, but only let you go 10% higher than the purchase price.

It varies widely. All you can do is call around and find out.

By: Blogger

Blogger — Thu, 04 Feb 2010 14:48:45 +0000

Awesome work Williamsshamir
Great video.
Much love Kat

By: WPBlog Shop

WPBlog Shop — Thu, 04 Feb 2010 08:43:33 +0000

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