[+] View Main Menu



 

Home Refinance Loans

Second Mortgage / Home Equity vs. Refinance

Why should you take out a Mortgage Refinance Loan
from LendingTree

Highest security standards available. No information sharing without your consent. One simple form allows several lenders to compete for you. Get up to 4 online offers fast.
second mortgage or a home equity line of credit instead of refinancing?

Well,………You Shouldn’t!!

Why Not?

1. Second Mortgages usually have an interest rant that is twice or even three times as high as your first mortgage rate. You can refinance instead and keep a very low rate.

LendingTree Home Equity
Loans for: Debt Consolidation, Pay off Home Equity Loan, Pay off Home Equity Line of Credit, Home Improvement / Remodeling. In the long run a second mortgage will just cost you money in interest charges.

2. Home equity lines of credit are designed for mortgage account executives (salespeople) to sell you on using it like a credit card attached to your home. They will try to convince you to use it over and over again.


 


Got Bad Credit? No Problem! Lenders Block has over a hundred lenders within its exchange to help you Refinance! Apply Today!

Loans for: Refinance, Home Equity, Debt Consolidation, New Purchase. Types of loans we offer are: Fixed Loans, Interest Only Loans, Negative Amortazation Loan. Our services are perfect for the First Time Home Buyer, those who want to Refinance, those interested in Debt Consolidation, or, if you're just interested in Pre-Qualifing for a home loan.
3. A refinance loan is better for the equity in your home. Very few companies will refinance your home at 100% of it’s value without forcing you to take out a second mortgage. You don’t want to use 100% of your equity because that means you no longer have that equity to fall back on in emergency situations.

4. Second Mortgages and Home Equity lines of credit are designed to provide account executives (salespeople) with another tool to sway you into putting another commission in their pocket.


Simple 2-minute Form
No Social Security number required. Access over 200 lenders nationwide. Up to 5 FREE mortgage offers. 5. Your equity is a precious thing and should not be used for unnecessary add ons or impulse buys. If you don’t need it and there is even a slight chance you can’t afford it, then don’t get a second mortgage to buy it.

The only reason that I would ever recommend a second mortgage or a home equity line of credit is in an emergency situation. Only when there is no other option and you must take out a loan would I recommend either one of these options.

[ ARTICLE CREDITS ]

Benjamin Ehinger has an extensive mortgage background and has studied the industry for many years. To learn more about Refinancing and Second Mortgages visit: http://bandcdriver.tripod.com/second-mortgage.htm

Related Articles




ContractorGuide.com is an easy-to-use online resource for information about home improvement during any time of the year. Because your home is often your largest investment, it requires regular care and attention to hold and/or increase its value. If you have a home improvement project that requires immediate attention, but you don't have the time or expertise to do it, we are the world's largest directory of home improvement contractors in USA and Canada who specialize in home repairs and maintenance. Whether it's a bathroom remodeling job, kitchen renovation, flooring installation, or roof repair, we have a list of qualified and certified contractors in your area.

If do-it-yourself is your thing, we feature a wide range of 'how-to' and idea generating articles that will help you get your project done right.

We also have a huge list of home improvement resources that are free and easy to use, as we'll as a list of home improvement loan companies that will help you finance your dream home improvement project.
 

CONTRACTOR FINDER

Find the BEST Local Contractors - FREE! QUICKLY FIND QUALITY CONTRACTORS NEAR YOU!
  • → contractors by job type
  • → contractors by map
  • → call us for help
  • → get 4 real bids, FREE

» OPEN QUICK FINDER TOOL

HOME BUILDING & REMODELING COSTS

FREE COST ESTIMATE TOOL!

Online home addition and construction / building / remodeling cost estimator software will help you estimate the cost of a wide range of remodeling projects.

» Open Cost Estimator Tool

FREE REALTY TOOLS

FREE REALTY TOOLS

Free Home Value Estimate
What's your home worth?

Find the Best Realtor®

Free List of every Bank & Government Foreclosure!

View Low Priced Homes
in Your Area and USA

Get BEST RATE Home Loans

HOMEOWNER HOTLINE SERVICE

Call Live Help Now

FIRST CALL FREE!
Get home improvement advice from our staff contractors. Learn how to do-it-yourself, or get help obtaining an estimate and submitting your project to local contractors.

» Call Hotline NOW!











 
 
All content and images not otherwise claimed is © Copyright 2006 - Contractor.com. All rights reserved. || PRIVACY POLICY || SITE MAP