Archive for the 'Home Refinance' Category
If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates and they may provide you with certain tax advantages unavailable with other kinds of loans. A line of credit, briefly defined, is […]
Deduction of Refinance Points
Any points that you pay in the refinancing of your residence are tax deductible over the length of the loan in question. The deduction is allowable only if the residence is your primary home and the new mortgage replaces a previous one and/or is used to improve the residence. To the extent […]
Credit Tips Home Refinance for Cash Out or Home Equity Loan
0 Comments Published January 1st, 2008 in Home Refinance."Sub-prime [bad credit] mortgage lending rose 60% last year," said SMR vice president George Yacik, "to $516 billion." One of the most common reasons for this: debt consolidation. With the new, more complicated and expensive bankruptcy laws in effect and credit card companies doubling their minimum monthly payments, people are looking for other ways to […]