Amortization sounds like a nerdy, financial term. It’s really a simple way to describe the process of paying off of debt in regular installments over a period of time according to Investopedia. Home equity lines of credit are debt. So, how and when are they paid off, other than when a home sells? Unfortunately that’s a question to which too many homeowners have given too little consideration. READ MORE
That seems like a question with an obvious answer, right? You refinance when the interest rate on the new loan is lower than your rate on the current loan. But how much lower? And is it really as simple as subtracting one rate from another and signing on the dotted line? READ MORE
- Do today’s low mortgage rates have you considering a refi?
- Are you thinking about moving when the real estate market picks up or gets back to “normal”?
- Do you find yourself checking mortgage interest rates every Sunday?
Now that you’re back on track with your credit you might want to turn your attention to your credit score.
So why do you care about your credit score?
• Thinking about a mortgage or a loan? A good credit score could be the difference of getting financed or not.
• Many employers are including credit checks in their screening process.
• Buying a life insurance policy greater than $150,000? Your credit score will be considered. Your auto and homeowners’ policies premiums are also impacted by your credit score. READ MORE