find mortgage and refinancing information Akron Ohio

Channel:

We would like to thank the local libraries, schools, and universities for recommending students to visit us when doing research on any of our information topics.
 Please check back frequently as new topics are added and current topics are updated daily.

 

When Not To Agree To A Home Equity Loan


Before you borrow money on your home's equity, think twice so you don't end up paying more than you expected.

According to the Federal Trade Commission, homeowners-particularly elderly, minority and those with low incomes or poor credit should be careful when borrowing money based on their home equity. Certain abusive or exploitative lenders target these borrowers, who unwittingly may be putting their home on the line. Abusive lending practices range from equity stripping and loan flipping to hiding loan terms and packing a loan with extra charges.

When not to agree to a home equity loan:

- If you don't have enough income to make the monthly payments.

- If the loan terms are incredibly unfavorable to you, with enormous up-front costs and high interest rates (sometimes exceeding 50 percent).

- If there are discrepancies between the promised or stated interest rate and the annual percentage rate (APR) figure required in all consumer loan contracts (Truth in Lending). If that figure is significantly higher than the rate stated in the contract, the loan contains hidden interest charges.

- If you can't determine who the lender is. A lender could be nothing more than a few individuals in for a quick score. Does the agent have an office? Is the company an old and established one with community ties?

- If you haven't read or if you don't understand the loan terms or you're being pressured into signing the loan document.

- If the loan includes extra products you don't want.

What to do before you Agree to a home equity loan:

Have a financial adviser such as an attorney or accountant review all papers before signing anything. Paperwork for a loan contract is often technical and unclear. Read all items carefully. If you need an explanation of any terms or conditions, talk to someone you can trust, such as a knowledgeable family member or an attorney. Keep careful records of what you've paid, including billing statements and cancelled checks. Consider all the costs of financing before you agree to a loan.

Copyright © 2005. Chileshe Mwape writes for the Banking News Website at: http://www.banking-news.org.uk/ which offers informative articles about banking, mortgages and loans.

This article may be reprinted as long as all the above links are active and clickable.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Fri. October / 19 / 2018

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


How Credible works
Credible News (blog)
It's quick and painless. Tell us a little bit about you and your home to get accurate prequalified rates without impacting your credit score. 2. Compare rates from multiple lenders. View the interest rate and cost breakdown of each loan to choose the ...

and more »


Globalnews.ca

Line of credit? Mortgage refinance? Experts rank the best and worst options for debt consolidation
Globalnews.ca
The idea behind debt consolidation is simple: You take on a single, big loan to pay off all or most of your other, smaller liabilities. Story continues below. Usually, there are three big reasons to do it. First, focusing on a single monthly debt ...



New Data Outlines Consumer Attitude Shift for the Purpose of Mortgage Refinance Loan from Rate Reduction to ...
Digital Journal
Sep. 20, 2018 / PRZen / BELLEAIR BEACH, Fla. -- Despite increasing rates, consumers remain interested in refinance mortgage loans, but now with a new purpose: pulling out cash from home equity. The Q2 2018 Mortgage Consumer Profile Report, which is ...

and more »


American Banker

Slideshow The good, the bad and the unknown in Fed's latest rate hike
American Banker
Rising rates also tend to dampen mortgage-refinance volumes. Then there are the unknowns, such as the impact a rising rate environment could have on mergers and acquisitions. Here's a look at how rising rates could affect banks' decision-making, and ...

and more »


New Telegraph Newspaper

CBN plans N6bn capital for mortgage guarantee firms
New Telegraph Newspaper
In a letter to lenders, the Federal Mortgage Bank of Nigeria, Nigeria Mortgage Refinance Company of Nigeria and Mortgage Banking Association of Nigeria, the CBN defined a mortgage guarantee company (MGC) as: “A financial institution established to ...

and more »


National Mortgage News

Mortgage refinance applications decline to 18-year low: MBA
National Mortgage News
Mortgage applications decreased 1.8% from one week earlier as refinance submissions fell to their lowest in nearly 18 years, according to the Mortgage Bankers Association. The MBA's Weekly Mortgage Applications Survey for the week ending Sept. 7 found ...

and more »


Equities.com

Mortgage Loan Applications: How the Economy Impacts You
Equities.com
One of the main considerations in applying for a mortgage is the interest rate. It impacts the mortgage affordability over a specific payment period. While borrowers ideally want the lowest interest rate possible, mortgage lenders need to factor in the ...

and more »


The Mortgage Reports (blog)

Mortgage refinance checklist: what you need to refinance your home
The Mortgage Reports (blog)
Preparation is vital prior to applying for a mortgage refinance. You have to do the math and figure out if it makes financial sense. Plus, you need to learn the facts and shop around. Getting your paperwork in order is crucial, too. Tackling these and ...



The Mortgage Reports (blog)

How should I apply for a mortgage refinance: in person, by phone or online?
The Mortgage Reports (blog)
If Artificial Intelligence (AI) becomes a bit more intelligent, there may be no reason not to apply for a mortgage refinance online. Truly intelligent AI will offer the speed and convenience of today's online applications with the personal service that ...

and more »


Student loan marketplace Credible.com jumps into mortgage industry
Inman.com
Credible.com CEO Stephen Dash explains how he plans to revolutionize the mortgage refinance industry by putting the consumer experience first. Article image credited to Credible.com. Subscribe to Inman Select and read the entire article. Get the ...


Google News

used office furnishings-supplies-equipment-desks-cubicles-service-counters for sale in Akron Ohio   Die cast model cars for sale in Akron Ohio  
used cars for sale in Akron Ohio   unfurnished homes for rent in Akron Ohio

Click here to
OfficeJax free ad space available here

Find used office equipment in Ohio at www.OfficeJax.Has.It

Find the best fleamarkets at www.FleaMarketWorld.Has.It

www.Akron.Has.It

Find electric powered vehicles at www.NoGas.Drives.It

Akron City directory

Free Automatic Link Exchange

Flea Market World

Find homes for rent
in Akron Ohio
www.homes4rent.has.it

iphone-4-less below wholesale prices

 

Place your AD here. Click here for more details.

Click above to place your AD here

[Back to Top]

Ohio RealEstate

auction news and listings for Akron, Ohio

Akron crafts and hobby news center

best home remedies and do it yourself tips

Akron currency trading

Akron Ohio pet news

Advertising and promotions Akron, Ohio

The Akron blogging news center

Akron Ohio web site design news

Akron Mortgaging and refinancing

Web site design tips

 

HOME | SITE MAP

© 2012 - 2018 All Rights Reserved
Increase pagerank with HitsSurfer

free page rank checker and seo evaluation tools 

first second ARM compare rates find the best rates current in your area lenders read reviews calculator adjustable rate loan home lenders brokers quotes florida houston gmac washington interest only 2nd software debt consolidation reverse senior equity texas maryland options lending bad credit  option one ameriquest chase first banks emc residential california miami dallas est branch marketing home company commercial yahoo online bad credit low credit no credit