southernillinoismortgage.com
Equity Line of Credit - Private Mortgage Insurance
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If you borrowed more than 80% of the appraised value of you home, you're probably paying private mortgage insurance (PMI). PMI that is not lender paid is a waste of money. If you default on your mortgage, the private mortgage insurance provider will pay the lender, but you still would lose your home. PMI do not offer you any benefits whatsoever. PMI payments aren't even tax-deductible. One exception is if your loan is high-risk. A cash-out refinancing would be considered high-risk. Another is if ...You c...
southernillinoismortgage.com
Equity Line of Credit - Option One Mortgage Loans ˆ Getting an Option ARM or Option One Mortgage Loan
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Option One Mortgage Loans ˆ Getting an Option ARM or Option One Mortgage Loan. Option One Mortgage Loans ˆ Getting an Option ARM or Option One Mortgage Loan. Have you heard about or been interested in finding out more about option one mortgage loans? They are becoming very popular, but its important to understand how they work before you apply for one. I will describe, in this article, an overview of the most common type of option ARM mortgage loan or option one mortgage loan. How do they work? Wait a wh...
southernillinoismortgage.com
Equity Line of Credit - Wealth Creation and Mortgage Planning - Two Great Tastes that Taste Great Together
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Wealth Creation and Mortgage Planning - Two Great Tastes that Taste Great Together. What if I were to tell you that almost everything you have been told about what to do with your home has been absolutely wrong and that one of the worst ways to build wealth is through your home? And what if I further went on to show you that anyone who perpetuates this myth probably is not your best source for accurate financial information? These plans often fail or vastly under perform because they don't properly accou...
southernillinoismortgage.com
Equity Line of Credit - The Zero Down 80/20 Mortgage
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The Zero Down 80/20 Mortgage. This is an excellent loan for those that are lacking the down payment required for other types of mortgages. The 80 20 mortgage is simply two loans for 100% of the purchase price. It is a first mortgage at 80% of the purchase price with a 20% second mortgage. Many times you will have two choices when it comes to the second mortgage portion of the 80 20 mortgage. The second mortgage can either be a fixed second mortgage or it can be a line of credit. If it is a line of credit...
southernillinoismortgage.com
Equity Line of Credit - Save Hundreds A Month On Your Mortgage
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Save Hundreds A Month On Your Mortgage. In order to help you in your online search for a better home mortgage rate, I have listed a few tips and questions below:. Will your credit rating be a hindrance to a new loan? Will the lender work with you if you have bad credit? Are you getting a new loan to refinance your rate? Or are you getting a loan for a secondary reason (paying off debt or home improvement needs for example). Have you seen your credit report lately? Is the quote free? Joseph McNealy is the...
southernillinoismortgage.com
Equity Line of Credit - Mortgage Advice & Tips
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Mortgage Advice and Tips. Watch for 'cash for clunkers' scams. Don't give out personal data to a middleman, and make sure a dealer isn't sneaking in unwanted fees. Official' owner wants cash for a clunker. This owner may be out of the money. You must be the car's owner for a least a year to get the cash. Home equity can be used to buy car. Home equity products can be used to fund a car purchase. But there are risks for the homeowner. How to spend extra money smartly. When a HELOC is used for a business.
southernillinoismortgage.com
Equity Line of Credit - Amortization Mortgage Calculator
http://www.southernillinoismortgage.com/MortgageCalculator
Southern Illinois Real Estate. Locally owned and operated. With Personal Service from. Kevin Klaine or Steve Schauwecker. The Bank of Marion. A Full Service Community Bank. Get qualified leads from. Targeted traffic, real home buyers. First National Bank of Jonesboro. The Best Bank Your. It is Not Too Late. First State Bank of Eldorado. That Cares About You! First National Bank in Pinckneyville. A Real Community Bank. Du Quoin State Bank. Carterville State and Savings. Still a People Business!
southernillinoismortgage.com
Equity Line of Credit - Mortgage Rates
http://www.southernillinoismortgage.com/MortgageRates
Southern Illinois Real Estate. Locally owned and operated. With Personal Service from. Kevin Klaine or Steve Schauwecker. The Bank of Marion. A Full Service Community Bank. Get qualified leads from. Targeted traffic, real home buyers. First National Bank of Jonesboro. The Best Bank Your. It is Not Too Late. First State Bank of Eldorado. That Cares About You! First National Bank in Pinckneyville. A Real Community Bank. Du Quoin State Bank. Carterville State and Savings. Still a People Business!
southernillinoismortgage.com
Equity Line of Credit - Reverse Mortgage
http://www.southernillinoismortgage.com/ReverseMortgage
Are reverse mortgages for desperate people? No It is an excellent financial planning tool used from people of all walks of life. How do I qualify? You must be 62 or if both parties are on the mortgage, then you both must be at least 62. And, you must have equity in your home. What if I still owe on my home? You may still qualify even if you have a balance on your first mortgage. The proceeds must be used to pay off the mortgage, first. How much can I get? Is it just monthly payments? You can≠t....If you ...
southernillinoismortgage.com
Equity Line of Credit - Understanding a Commercial Mortgage
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Understanding a Commercial Mortgage. The lender receives repayment of the commercial mortgage principal and interest over the lifetime of the loan. If you default on the loan and go into arrears then the lender can foreclose and take possession of the property which was used as collateral. There are generally two types of interest schemes available when you are applying for a commercial mortgage. The fixed rate commercial mortgage establishes an interest rate that is in place either for the life of the l...
