Saturday, February 25, 2017

Should You Refinance To A Heloc Or Traditional Mortgage

Should You Refinance To A Heloc Or Traditional Mortgage

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Thinking of refinancing your home? Find out if you should get a home equity line of credit aka heloc or get a traditional mortgage loan.

You want to make the most of your money. So how do you know when to refinance your mortgage? Find out from Mike Henry, Vice President of
Dollar Bank Residential Lending.


Hi, this is Robert Mangino with Mike Henry, Vice President of Dollar Bank Residential Lending. And we’re here to talk about refinancing. Mike, when should someone consider refinancing their mortgage?

Well, people will often ask me, “Is there a rule of thumb as far as an interest rate drop that would make it worth looking at refinancing?” We typically say 1 to 1.5% is when you should take a look at it. You have to look at the total cost, how long it will take to recoup those costs and how long you actually plan on staying in the house.

When should someone consider a no closing costs mortgage, even if the interest rate’s higher?

Well, again it would go to how long do you plan on being in that house? Because with no costs, you could still take advantage of a lower rate. For example, we have 10 and 15 year home equity products which have little to no closing costs which can be a great benefit if it’s going to be a short-term situation, if the interest rates if you anticipate they’re going to drop further, you don’t have to keep paying the closing costs. Typically on a lower loan amount it works well, too, than paying all the costs that are fixed with a traditional mortgage.

When is refinancing with an adjustable rate mortgage more beneficial?

Well, we would look at, if you plan on staying in the house a short amount of time, there really isn’t a reason to pay a 30 year fixed rate when you can get a discounted rate for three to five years. If you were using a three or five year adjustable rate loan where the rate is fixed for those periods of time. So if you have a five year ARM, the rate is fixed for five years, even though the loan is advertised for 30. So if you’re going to be in there less than five years, there’d be no reason to pay the higher rate.

Thank you, Mike. For more information, contact a Dollar Bank mortgage expert at 1-800-344-LOAN or visit


– Dollar Bank
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– refinancing in Pittsburgh
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– When should I refinance my mortgage?
– Mike Henry
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Bad Credit Car Loans – Basic Pre-Approval Guidelines- Car Dealers

We help people with bad credit get pre-approved for a car loan. Frequently asked questions about bad credit car loans. Who are the Auto Credit Express car dealers in my area for people with bad credit? Can I get a car loan with low income? Can I get a car loan with Zero money down. I’ve been denied before can I get pre-approved for a car loan with bad credit? We can help at


How To Use A House Equity Personal Credit Line (HELOC) To Settle Your Mortgage In 5-7 Years

Get our COMPLIMENTARY book that reveals how exactly to pay back your house in 5-7 many years in your existing income:


If you should be wanting to pay back your house faster on the present earnings, you should think of getting a house equity personal credit line or a HELOC because they are called and you may pay back your house in 5-7 many years. This video clip demonstrates how.


Hey group, Michael Lush. I’m a fourteen recovering mortgage banker. What I need keep in touch with you about these days is the principles of what we instruct, using property equity line of credit to pay off your home loan in five to seven many years virtually without altering your financial allowance. The thing I wish explain to you guys these days is slightly concept that i ran across about four years back. I had a mentor of mine, a very affluent individual, clarify this for me. One this which he told myself is a checking and checking account is truly a liability. I usually considered it as asset which actually surprised myself.
I was thinking if you had a bunch of money into your checking and family savings, that’s a lot of a secured asset. Actually I was inappropriate because today banking institutions tend to be providing you about a zero per cent rate of return on your checking and family savings. Nonetheless rising prices goes up on average about one-point six %. Theoretically finances is going backwards. What he explained to me personally is the fact that cash cannot stay stagnant, it is both reached north or south.
You’re actually losing money each day by placing your money in a checking and family savings, hence your checking and savings becomes a responsibility. Everything weare going to do is we want to show you simple tips to sidestep that systemic issue as well as make use of a home equity credit line as your checking account, because what’s cool about property equity credit line is it’s open-ended. Money can move around in and out easily, twenty four seven, 300 and sixty five times a year. In the place of using your checking account and permitting the financial institution to after that turnaround and provide your very own money back to you in the shape of mortgages, charge card and car and truck loans, we’re really planning utilize property equity credit line. You’re going to deposit your entire cash into a home equity line of credit like it had been your bank account and after that youare going to pay your expenses from it just like you would since a checking account.
By doing you are actually planning speed up the reward of the mortgage and slashed your mortgage at least by one third. Hold-up. I do not think that’s right. You’re cutting by two-thirds actually. You are getting it paid off one-third at any given time. Instead of having thirty years to pay for a home loan you are in fact going to get property equity line of credit making use of your existing cash flow and absolutely nothing much more, maybe not having to pay even more, perhaps not spending less, simply switching in which your hard earned money goes while’re going to get a property equity personal credit line paid of in five to seven many years.
Now this is basically the basic concept of everything we instruct. We really get more in depth therefore we be in some extremely higher level strategies that may accelerate it even further. This really is an excellent device to build wide range and then we enter into those besides. Make sure to take a look at our other video clips and contribute to our channel here. Enjoy reading from you. Be careful group, God-bless. Thank you for watching the video clip, if you like that certain I actually picked two even more for you personally as possible watch right here. No.
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Who Is Entitled to a Free Annual Credit Report And The Quickest Way To Get It

Some people are curious about their credit report and would like to know if it needs repairing. A free annual credit report will let you know if your credit score is in trouble and is in need of serious repair. You may think that your credit score is fine one year, but could take a tumble the next year. A free annual credit report will mean that you can look at your credit score every year and see what has happened–whether it has gotten better or worse. A free annual credit report will let you know this and will let you know if you need to do any work on your credit score.

If you are interested in receiving a free annual credit report, then you can do this in a number of ways: you can order your free annual credit report by telephone, or by mail, and you can also order your free annual credit report through the Internet. If you are looking for instant access to your credit score, then the Internet is the best way to do it.

But if you are going to view your free annual credit report online, then you need to be aware of unofficial sites. There is one way to ensure that the website you are viewing is official: The website will have HTTPS in the address bar when you are entering sensitive information, rather then the traditional HTTP. This will be because you are swapping sensitive information and then no one will be able to see what you are typing.

If you are never really sure about your credit score, then a free annual credit report will keep you up to date with how good or bad your credit score is. But also when viewing your credit report, you will need to make sure that everything is being kept up to date and that your information is not being used by someone committing identity fraud.

There was a time when we would have to guess what our credit score was. It seemed that we would never be able to know our own credit score. But those days are over now: all American citizens are entitled to a free credit report score. The ability to get your free credit report score is a huge relief for many Americans, as they would like to know their credit scores instead of having the figure hidden in a bank’s computer files.

If you want your free credit report score, then you have to understand that it will be different from your annual credit report. An annual credit report will let you know your monthly credit rating with your accounts that you currently have open and the ones that have been closed recently. A credit score, however, will just give you a three figure score based on your credit history.

A free credit report score is a good idea if you already know your credit rating and would just like to know your credit score. Most companies get an idea of your credit score by obtaining information from lots of different customers. Then they get a credit score system and that is how your credit score is determined; it may seem strange, but that is how it’s done.

Your free credit report score is a great way to just get a glance at your credit rating. You will see where you are on a scale based on the bank’s rating system. There will be a side of the bar that is green that will indicate that you have a high credit rating, but there is also a red side of the bar, which of course indicates that you have a bad credit rating and you need to improve it sooner rather then later. Your rating will be written down and you will see where you are on their chart. You will obviously want to be nearer the green side of the bar when you receive your free credit report score.

Emanuele Allenti offers valuable tips and help about credit reports at best credit reports and free credit reports websites. Enter now!

Debt Management V Debt Consolidation An Unbiased Comparison

People in the UK are in 2008 responsible for more debt than ever before. Debt management should be a high priority for anyone carrying large amounts of debt today.

It is reported that in todays economic climate that consumers are more likely to have debt problems than they have been at any time in the past 10 years. It is also likely that the situation will only grow worse if as predicted the credit crunch bites even harder and those same consumers allow their debts to grow unchecked.

Debt management is fast becoming a highly sought after means of improving ones lifestyle and credit profile. With the right debt management programme or system you can get out of debt fast and without filing for bankruptcy or doing to much damage to your credit profile.

If you are finding yourself getting close to the end of your tether financially and you you have a heavy burden of debt on your shoulders then you should be looking at some form of a debt management system. The first thing you must understand is that a debt management system is not just a debt consolidation loan. The goal is to become debt free and not to just consolidate your debt, although consolidation can work very well in the right circumstances. The point here is that you need to seek proffessional advice before emarking on any particular course of either debt management or debt consolidation.

Debt consolidation can as well as being a good solution in certain circumstances be very profitable for the consolidation companies. After all, how do you think debt consolidation companies stay in business? Its a billion pound industry and the debt consolidators make a profit when you to stay in debt. This is why you should look at a good debt management programe before making your final decission.

Debt management is a process and can also be a long term program. A debt management system or program is designed to completely eliminate your debt in the shortest period of time producing a debt free lifestyle for you to enjoy. It is important to remember that once you are debt free to stay that way don’t be tempted by the flashy advertisments to wonder back into the credit spiral that you have just ecaped from.

You and everybody deserve to be debt free and not have that burden weighing you down but in the final analysis only you can keep yourself out of debt. Your destiny is your responsibility. A good debt management programe along with your commitment and determination can do this for you.

Without at tailored debt management programe, the stress of debt can cause untold problems for you and your family. This in many circumstances can be overwhelming to a point that it can destroy your health, marriage and the continuity and enjoyment of the family. Well over half of the divorces in the UK have their roots in financial hardship caused by debt problems, as do many of the stress and depression cases treated each day by our family GP’s.

Debt management is a system that works in such a way that you can eliminate your debt in a very short time thus avoiding some of the problems outlined above. Debt is a real enemy and a good debt program can strike down that enemy in its prime allowing you regain your freedom and control.

This will therefor give you chance to enjoy life and your family again. You can take much the stress and worry out of your life with a good debt management system.

There are many debt management programs available but only a few truly work to eliminate your debt completely. So if you are burdened by heavy debt, then I urge you to learn how you can eliminate your debt effectively today. If you are serious about wanting to eliminate your debt, I highly recommend that you learn more about debt management.

Geoff Hibbert provides tailored debt management solutions and credit repair services
through his websites

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Second Mortgage Subordination Process

Second Mortgage Subordination Process

It is imperative to subordinate a second mortgage if you are unable to refinance both your first and second due to a insufficient equity
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