Credit and Loans

Equity Loans May Be Best Option To Consolidate Credit Card Debt – Tax Advantages and Lower Payments May Apply With Mortgage Loan

Equity Loans May Be Best Option To Consolidate Credit Card Debt – Tax Advantages and Lower Payments May Apply With Mortgage Loan

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(Best Syndication) Many homeowners find themselves in the dilemma of too much unsecured credit card debt. The decision to refinance is not an easy one. Most people are hesitant to secure credit card balances against their home, but there are some advantages in doing so.

There are tax advantages in taking the debt from your credit cards and placing it into a home equity loan. Currently credit card interest is non-tax deductible, but interest paid on a home loan is. Always check with your tax consultant before making that decision because he is up to date on your situation and the current laws.

Picking the Right Mortgage Lender – Brokers and Agents Should Be Licensed and Registered With the Better Business Bureau

Picking the Right Mortgage Lender – Brokers and Agents Should Be Licensed and Registered With the Better Business Bureau

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(Best Syndication) If you are in the market to buy a home or refinance your home you should evaluate all of your options, including the people you are going to work with. Mortgage brokers can help you along and give you several options with just one inquiry on your credit. This is important because too many credit inquiries on your record can be a negative (see Comment at bottom of article). This could affect your interest rate or whether they want to lend to you in the first place. So the loan broker may be the best option.

Most people don’t drive down to the first dealership when they buy a car. You should not jump at the first bank you drive by as well. There are thousands of interest dollars at stake and it is prudent to do a little shopping first. You want an honest person who is in the business for the long-haul.

Picking The Type Of Loan Is As Important As Choosing The Right Home – Fixed Rate Adjustable And Interest Only Mortgages

Picking The Type Of Loan Is As Important As Choosing The Right Home – Fixed Rate Adjustable And Interest Only Mortgages

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(Best Syndication) Buying a home is the smartest investment you can make, but there are some choices that need to be made when considering a mortgage. You may want to go through a prequalification process before you start looking for a home. This will give you a ball park figure for a price range.

From the investment standpoint, it makes sense to buy a home. You won’t be throwing your money away on rent. But which loan is best for you? You may want to consider talking to a loan broker first. Let them do some shopping for you.

Can I Pay My Mortgage With A Credit Card?

Can I Pay My Mortgage With A Credit Card?

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Yes you can. There are two ways to make a mortgage payment with your credit card.

The first way is to use the convenience checks that credit card companies send out every so often. These checks work like those you would write from a checking account, but they draw against your credit rather than available bank funds. You can write, sign and mail these off to mortgage companies.

The second way is to use an online billpay feature (such as the type available at MBNA). This allows you to pay a certain amount to the specified company. The amount will be drawn out of your available credit and paid to the mortgage company similar to a check.

Oprah’s Debt Diet TV Show Series – How to get out of Debt and Save for Retirement

Oprah’s Debt Diet TV Show Series – How to get out of Debt and Save for Retirement

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On the Oprah TV show yesterday, she had a vast amount of information about planning to get out of debt and focusing on retirement. She had last year’s guest on the show to tell how they managed on Oprah's Debt Diet. Oprah also had members of the audience work out their finances backstage while the show was being taped to find a strategy to help these folks save money.

The audience members selected was Lindsay, 25, and Matt, 27, who are expecting their first baby. The young couple makes around $97,000 per year and has $6,000 in credit card debt and $65,000 in student loans. The second couple is Kathy and Steve who are both 51 years old. They have 4 adult children, with 2 of them living at home. They have a yearly income of $100,000 and have $34,000 in credit card debt. The third audience member selected was Diana, 23, who is single and makes $50,000 per year and has $6,000 in credit card debt along with a $37,000 student loan.

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