In 2005, Americans holding an average of 5 credit cards per household utilized almost 700 million credit cards to purchase products and services totaling $1.8 trillion. To protect consumers from abusive and unfair credit card practices and ensure arms-length treatment by credit card companies, Senators Claire McCaskill (D- MO) and Carl Levin (D-MI) introduced this […]

Washington Mutual recently unveiled WaMu Mortgage Plus, an “all-in-one” loan package combining a home equity line of credit and new mortgage that offers consumers the opportunity to alternate between adjustable and fixed rates twice annually and to reset interest rates without refinancing. Customers can utilize a WaMu Mortgage Plus as their principal mortgage and eliminate […]

A home equity loan is an excellent resource for obtaining funds when you really need it. Because you are not always equipped to handle financial situations that come your way, especially when they are unexpected, a home equity loan can provide you with the financial support you require in times of need. Home equity loans […]

A home equity loan is a type of loan that you as a home owner can take out by putting up the equity in your home as collateral. A home equity loan is also a secured debt as it is essentially debt against your own property, which you have ownership of. If you require a […]

If you have decided to take out a home equity loan, but are not sure which lender/company to go with, you’re not alone! After all, these days virtually every type of financial institution is offering consumers home equity loan options. The up side is that you have choices when it comes to your home equity […]

One of the criteria that mortgage lenders take into account before approving a mortgage is the loan-to-value ratio (LTV). The LTV is defined as the relationship, in percentage form, of the amount of money loaned by a bank to the value of the collateral pledged as security for the loan. For instance, a $66,000 loan […]

If you’re a homeowner, then you know there are several different reasons as to why you would want to refinance your mortgage. You may want to refinance in order to reduce your monthly mortgage payment or perhaps to consolidate your bills in an effort to pay off debt you have incurred over the years. Another […]

The rise in housing prices across the nation has ushered a growth in the number of jumbo mortgage refinance applicants. Whether purchasing a mansion in Palm Beach or a country cottage in Tennessee, many Americans are choosing to finance with a jumbo mortgage; an option no longer reserved to upper-end luxury residences. What is a […]

By: Mevish Jaffer As life has a tendency to throw you some curve balls every now and then, financial emergencies, though unexpected are still quite a common occurrence. So what do you do if you find yourself in such a predicament? Do you turn to your savings? What if you don’t have any savings? Payday […]

By: Americans who have built equity in their homes can put it to good use through the mechanism of a cash-out refinancing. Basically, with every mortgage payment that is made, a greater investment in the home’s equity takes place. Some of that equity can be traded for cash by way of a cash-out refinancing. Cash-out […]