![]() | |
![]() | |
![]() |
Real Estate Information |
|
![]() |
Your Home Equity Can Work for You
"Use your home's equity to pay off your debt. It's easy and simple, no closing costs!" Every time I turn on the television, commercials bombard me telling me to take out a home equity line of credit. People are using their dream homes to pay for even bigger dreams, like a "debt free" lifestyle and college educations for their children. Despite the ease in securing these seemingly beneficial lines of credit, many CPA's and financial planners are cautioning homeowners to gain a full understanding of how these lending options work before they turn their homes into a source of money. There are two options in using your equity to secure funding: a home equity loan or a home equity line of credit. Most lenders will let a homeowner borrow up to 80% of existing equity based on the amount owed on the first mortgage and the appreciated value of the home. Unlike other forms of nondeductible consumer debt, loans less than $100,000 or less that use a home as collateral may have a tax deduction available for interest paid. A home equity loan is most usually used for large purchases, such as financing a major home improvement project, starting a business, purchasing a luxury item or consolidating high-interest credit card debt. There are advantages to securing lending for these purposes, but these types of loans are better suited to those who don't foresee future borrowing needs. Home equity loans are basically second mortgages, which provide you with money that is repayable over a fixed term from five to 15 years. These loans can feature locked-in rates and monthly payments that remain the same. Home equity lines of credit are ideal for use as emergency money. They can be used for irregular or unanticipated expenses like medical deductibles and automobile repairs. These lines are often used by higher income families who don't qualify for college financial aid to pay for their children's college educations. When faced with using a home equity line of credit or savings to pay off credit card debt, it is advised to use the savings to pay of the debt and the line of credit for future emergencies. With home equity lines of credit, you are approved for a certain amount of money, a credit limit. You can borrow any amount of money during the life of your line of credit up to your credit limit. You may be given a check or a debit card that can be used at almost all retailers. Home equity lines of credit are usually variable-rate loans. Using the equity in your home is not a flip decision. Think about it seriously. If you are doing this to consolidate high-interest rate credit cards, it will only work if you do not accumulate any new debt. If you keep using the cards, you are only digging a further pit of debt. Your credit card company cannot foreclose on your home, but your home equity loan lender can. You are placing your home at risk with every mortgage placed on it. It is necessary that you shop for the best rates and terms available. Talk to different lenders and be aware of introductory rates. Read all paperwork carefully before you sign it. Using your home equity can benefit you in many ways, but always display caution. It is still debt Martin Lukac, California mortgage Lender(http://www.martinlukac.com), provides mortgage financing for purchase,refinance,bad credit and more. Request a free quote or ask a question.
MORE RESOURCES: How much mayoral candidates have received from real estate so far Crain's New York Business Is Disney a Real Estate Company? Motley Fool Real estate: North San Jose industrial site lures big developer Pacifica Tribune Lewis Real Estate Services Establishes 'The UConn Real Estate Project' - University of Connecticut Athletics UConn Huskies Real Estate Insider: $9.7 million residential, commercial development planned for McNichols Crain's Detroit Business Recent Commercial Real Estate Transactions The New York Times Real estate: South Bay developer in SEC fraud case files bankruptcy Pacifica Tribune 6 Arizona real estate projects to watch AZ Big Media RealtyTech Inc Now Includes a Full Featured Blog for Real Estate Agents with Their Premium Website and IDX Search System Combo Yahoo Finance Emerging Trends in Real Estate 2021: ULI Report milehighcre.com What's your pleasure? Garden State becomes prime destination in evolving real estate market Jersey's Best Report: Record-Breaking Year for Cape Cod Real Estate CapeCod.com News Local real estate market bounces back in late 2020 Terre Haute Tribune Star She once sold real estate. Now she searches for predators at night Herald-Mail Media BREVARD REAL ESTATE MARKET WATCH: Four Reasons People are Buying Homes in 2021 - SpaceCoastDaily.com BREVARD REAL ESTATE MARKET WATCH: Four Reasons People are Buying Homes in 2021 SpaceCoastDaily.com Working With Your Commercial Real Estate Lender - Accountingweb.com Accountingweb.com Hire A Real Estate Agent Or Do It Yourself? It's No Contest Haute Residence Women getting it done in commercial real estate REjournals.com Sarah Susan Moore, in real estate sales CapeGazette.com Meet the 2021 Notable in Real Estate honorees Crain's New York Business Five key real estate proposals in Cuomo’s budget The Real Deal commercial real estate Realtor.com News Real Estate Market Trends Flathead Beacon Triten Real Estate Partners finalizes purchase of Plano's Market Square Mall for redevelopment - Dallas Business Journal Dallas Business Journal Origin Stories: CBRE's Elizabeth Birch On Entering Real Estate After Leading A Major Nonprofit Bisnow The 10 Biggest Real Estate Sales Of 2020 Celebrity Net Worth Local real estate broker feels the Bern - LVB Lehigh Valley Business Apollo Commercial Real Estate Finance, Inc. Announces 2020 Dividend Income Tax Treatment GlobeNewswire 5 tools to help real estate teams to adapt in 2021 TechRepublic EQT inks deal to buy real estate manager Pensions & Investments Tucson Real Estate: Assisted living home bought for $5.6M Arizona Daily Star Key takeaways from Colliers' real estate outlook for 2021 Kansas City Business Journal Covid drives annual Hawaii real estate forecast online Pacific Business News (Honolulu) deSatnick Featured Agent: Micah Yerk | Real Estate | capemaycountyherald.com Cape May County Herald Real Estate Developer The St. Joe Co. Forms Watersound Insurance Agency in Florida Insurance Journal Real estate developer Bridgewood to build senior-living community here - Charlotte Business Journal Charlotte Business Journal Real estate community hears legal and economic implications of Proposition 208 Chamber Business News CIP Real Estate Acquires Dallas Industrial Portfolio Commercial Property Executive CRE - California Commercial Real Estate News ConnectCRE Amazon lifts NYC's industrial real estate market Crain's New York Business Making it in Big Sky: ERA Landmark Real Estate Explore Big Sky Real estate & property tech – Crunchbase News Crunchbase News Business Report: Buy American executive order, NJ real estate market, ShopRite pharmacy closings | Video NJ Spotlight DCCA NEWS RELEASE: REAL ESTATE COMMISSION TO HOLD FREE VIRTUAL “CONDORAMA VII” EDUCATION EVENT David Y. Ige | Newsroom Nashville commercial real estate set for auction by court order including Murfreesboro Pike hotel WKRN News 2 Bluerock Total Income+ Real Estate Fund Delivers a 2.57% Fourth Quarter Return and Bullish Outlook for 2021 Salamanca Press StreetWire partners with R3's Corda to help power transformation of real estate data services PRNewswire Repurposing Real Estate Offers Opportunities Post-Pandemic NBC 5 Dallas-Fort Worth ElmTree Teams Up With Guggenheim in $600 Million Real Estate Deal Institutional Investor Booming Charlotte real estate widens wealth gap Charlotte Agenda MLG Capital launches real estate investment fund | Business | gmtoday.com Greater Milwaukee Today Dear Monty column: Are real estate commissions fair? The Daily Telegram See how Georgetown real estate fared in December Community Impact Newspaper Beaman offers urban real estate empire for sale Nashville Post Should you invest in stocks or real estate? MarketWatch Why the Charlotte real estate market looks invincible in 2021 Charlotte Agenda President Joe Biden’s real estate checklist The Real Deal Milwaukee real estate market hits sales record in 2020 with pandemic buyers and low interest rates Milwaukee Journal Sentinel Commercial Real Estate Debt Sustained by Central Bank Bond Buying The Wall Street Journal Durango’s real estate market immune to COVID-19 The Durango Herald 15 Biggest Real Estate Companies in the World Yahoo Finance Consolidation and competition in real estate could mean consumers win, Redfin chief says Washington Post New York Real Estate Begins Its Recovery The New York Times |
![]() |
![]() |
![]() |
RELATED ARTICLES
How To Best Negotiate A House Deal Whether it's selling your home or buying a home, more often than not you'll come across a stage where you'd have to negotiate. Negotiation is the art of getting what you want at your terms and conditions. How To Find Your Dream Home In Belize Shopping for property in Belize is not as simple an undertaking as you might initially expect!Firstly, estate agents as we know them are non existent! Real estate brokers that do exist are likely to be unlicensed, unregulated and certainly not trained or insured.Secondly, the majority (and I mean the majority) of property for sale is not advertised!But with property prices remaining affordable, the quality of property available attractive, the climate beautiful, the people welcoming, the quality of life incredible and the opportunities in Belize plentiful, more and more people need to know HOW they can go about procuring themselves their dream home in Belize. A Real Estate Primer There are a great many books and web sites devoted to real estate investing out there, but most of them concentrate on one specific area of investing. It's often hard to find a general description of real estate investing, one that lists the various real estate investing strategies and how to get started. San Diego Real Estate San Diego is home to millions of beautiful apartments, condominiums, and single-family homes. Depending on the type of living arrangement you're looking for, and how much space you'll need, you should look at the appropriate San Diego real estate listings that fit your preferences and budget. At Home In Your Overseas Home Homeownership, in any form, is a big step for most people. In fact, it's often one of the biggest financial decisions of our lives. Chapter One FSBO the Russ Miles thriller/mystery novel Chapter OneShe reached the phone on its second ring. "This is Tami!" She confidently answered. Various Aspects Of The Lease Purchase Business In a previous article, we wrote why we believe that Lease Purchasing is the perfect home-based business, here we want to briefly touch on some of the actual aspects of operating such a business, the pluses and minuses and why Lease Purchasing represents a win-win situation for the seller, the tenant/buyer and just as importantly, you, as the business owner. One of your goals in operating a Lease Purchase business is to contract for property that you then move to the tenant/buyer. Back To The Future - Big Changes Are Coming, Get Ready Now The comments below are quoted from a recent speech by Ben Bernanke, a member of the Federal Reserve Board of Governors.. Important Facts For Home Buyers If you are considering buying a home or have spent many years saving in preparation of buying a home, the questions and process involved in buying a home can be extremely stressful. As exciting as it is to begin looking for your new home, there are many unexpected costs and details to be considered before contacting a real estate agent. Tidy Up The Outside, Reap The Rewards There isn't a realtor in existence who wouldn't tell you that one of the most important terms that you can learn when you're trying to sell your house, is "curb appeal."So while you're sprucing up your home, it's wise to start outside, and work your way in. Should You Sell Before the Housing Bubble Pops For the past several years housing prices have risen dramatically. With interest rates continuously moving up, and more and more people being priced out of the market, all signs point to an imminent housing market correction. Negotiating the Real Estate Contract Negotiation is the process of communication back and forth in order to reach a joint agreement. There is no "one size fits all" strategy of negotiating a real estate contract. Greed Can Cost You Your Shirt! The proper action when things are going well is to pay off debt and consolidate your position. Then you will be financially strong and can go for further expansion without fear of loosing what gains you already have. You Wanna Get High With Me? Being a home inspector is great. It's fun, it's interesting, and I get to meet wonderful people. How to Build a Real Estate Investing Power Team As you continue to read about real estate investing, you will no doubt come across the term 'power team'. What is this 'power team'? A power team is a group of people without whom successful real estate investing becomes very difficult, if not impossible. Real Estate Investing with No Cash and No Credit Lots of folks think it can't be done.How in the world can you buy a piece of real estate property without cash or credit? How is it possible to buy a $50,000 house or a $1 million dollar house if I don't have an abundance of cash or an excellent credit rating?Nothing stops a would-be investor cold in his tracks like "no cash or credit. The Ultimate Short Sale Secret Buying foreclosures can be extremely profitable for real estate investors. However, most of these homeowners are mortgaged to the hilt. OPM - The Art of Leveraging Equity lender, hard money lender, private investor or what ever term one uses can be a great source of funds to do real estate transactions and the question of how to find them comes up often!There are numerous ways to do this, and no two investors are exactly alike, so it's important to be innovative and customize your proposal to the specific "hot buttons" for each funding source.One of the greatest advantages of real estate investing is the power of leveraging other people's money. Property in Northern Spain If you're looking for the 'real' Spain where the culture, customs and the traditional Spanish lifestyle have been preserved - a Spain long ago lost and forgotten along the Costa del Sol - consider Northern Spain.Northern Spain has always been a popular holiday destination for southern Spanish tourists, but until relatively recently it was largely unexplored and undiscovered by foreign tourists and those expatriates seeking a new home overseas. How to Make a Buyer Fall in Love with Your Home If you are thinking of selling your home, there are a number of things you can do to improve the "showability" of your home. But first, let's look at your home through the eyes of the buyer. ![]() |
home | site map |
© 2006 TIGER MEDIA |