Home equity loan and many more topics

Consider, too, whether you want mortgage refinancing to work to lower your monthly payment by reducing interest or to raise your monthly payment to pay principal down quicker. The first option brings immediate results in the form of monthly savings but will end up costing you more in interest over the life of the loan; the second pays your loan off sooner and costs less in overall interest. It all depends on your long term financial strategy. It would be to your great advantage to avoid the mistakes of the late 2000s by reading the small print before committing to a mortgage refinancing loan. Too many people were seduced by the prospect of owning more home than they could afford (and preyed upon by unscrupulous lenders), and suffered dire consequences as a result.

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