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Considering Refinancing Your Mortgage?

If you are a homeowner who needs money to pay bills or for home repairs, you may think a home equity loan is the answer.

Home Mortgage Refinancing
Home Mortgage Refinancing
June 30, 2012 - PRLog -- When you refinance, you pay off your existing mortgage and create a new one. You may even decide to combine both a primary mortgage and a second mortgage into a new loan.  You may be able to get a lower rate because of changes in the market conditions or because your credit score has improved. The interest rate on your mortgage is tied directly to how much you pay on your mortgage each month, lower rates usually mean lower payments.

However, if you are a homeowner who needs money to pay bills or for home repairs, you may think a home equity loan is the answer. You could lose your home and your money.

Mortgage Awareness has listed some advice and tips at http://www.badcreditmd.com/mortgages/refinancing-a-home-loan/ for homeowners who are having money problems so they can consider these options before they put their home on the line.

If you decide refinancing your mortgage loan is right for you, talk with several lenders, including at least one bank, savings and loan, or credit union in your community. Their loans may cost less than loans from finance companies.

Not all loans and lenders are the same and you should shop around. The cost of doing business with high-cost lenders can be excessive and, sometimes, downright abusive.

Mortgage Awareness is a self help guide that teaches about mortgages, refinancing, finding a home, foreclosures and selling your home.  This guide is a subsidiary of Enticing Designs Publishing.  The staff has various  backgrounds in the financial and mortgage industry.  Its staff has researched its information with various governments around the world to provide the most comprehensive and accurate information free of charge.  

To inquire about Enticing Designs Publishing please contact us at help@enticingdesigns.us.

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Source:Enticing Designs Publishing
Location:United States
Tags:Banks, Mortgage, Refinancing, Loans, Credit
Last Updated:Jul 09, 2013
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