Welcome to Refinancing Guide
Refinance Your Home Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
We're in a position today where we almost always have to have loans for one reason or another, whether it's a mortgage loan or a consumer loan. The rising cost of living as well as the high cost of everything has made paying cash for something almost obsolete. In most cases, once we buy a home, it's a one time investment to last us all our lives. Unfortunately, the same can't be said about buying automobiles. Automobiles are so expensive that the majority of the population has to take out a loan to purchase one. Many new cars are almost half the price of a small new home. The major difference between a home and car, however, is that while a home increases in value a car depreciates in value. Another difference is that mortgage loans allow for payments extended for a long time, sometimes up to 30 years whereas automobile loans will go from 24 months to 72 months, but seldom any longer.
from:In many cases, by time the auto loan is paid off (after 5 or 6 years), the car doesn't have much value, especially if there are a lot of miles on it. The person then starts all over buying another car with the help of an auto loan. With the rate of interest, we often wind up paying $30,000 for a car that cost $20,000 off the car lot. Because cars depreciate so fast, auto dealer do not give very much for trade-ins. Many consumers find themselves trading their car in for a new model while they can still get some value out of the car. However, in many cases their original car loan is not paid yet so they get an auto refinance loan. With an auto refinance loan, the bank will release the lien on the first car and put it on the second car.
With an auto refinance loan, the remaining balance of the first loan is added on to the new loan for the second automobile. Many people are never without an automobile loan as part of their budget. Consumers will often use an auto refinance loan as an opportunity to take advantage of lower interest rates. When borrowers make their payments on time and build a good credit rating, banks are usually quite willing to offer them lower interest rates on an auto refinance loan.
An auto refinance loan is also used as an opportunity to consolidate other debts. If a borrower had a large down payment when they bought the car or has made large monthly payments on the loan, the value of the car will remain considerably higher than the loan balance. If this is the case, consumers will often borrow more money to pay off other debts and add this to the auto loan. Auto refinance loans are a great way to save some money on refinance charges or get caught up if you've fallen behind on your payments due to hard times.
Refinance Your Home Specific links
Refinance Your Home News
Getting the Best Refinance Deal - Wall Street Journal
 The Mortgage Reports | Getting the Best Refinance Deal Wall Street Journal By RUTH SIMON There has never been a better time to refinance your mortgage. Rates are at record lows. The government is devising new programs to help homeowners. The economy and job market are improving, albeit slowly. In theory, those factors should ... Don't HARP on it, refinance program too good to pass up Northen Virginia Refinancing Expert Explains New Home Affordable Refinance Program Q & A : Why Won't My Bank Do HARP Mortgages With PMI Or LPMI? |
Real: FHA streamline refinance gets cheaper - The Republic
 King of How To News | Real: FHA streamline refinance gets cheaper The Republic The lower fees go into effect June 11 and will be available to borrowers who refinance loans that were endorsed by the FHA before June 2009. "If you had your loan endorsed prior to that, this is your chance to save money with a streamline refi," says ... FHA Streamline Refinance Set To Spur Refinance Boom Today's Mortgage Rates for 5/25/12 Mortgage Refinance in Today's Real Estate Market |
Refinance your FHA Mortgage regardless of your appraised value or loan amount. - Examiner.com
 New Zealand Herald | Refinance your FHA Mortgage regardless of your appraised value or loan amount. Examiner.com The Federal government has recently changed its guidelines on refinancing. Homeowners who are “underwater” in regards to value in their homes can now also take advantage some of the lowest rates in 60 years, regardless of your appraised value or loan ... When Does It Make Sense to Refinance? BNC National Bank (Lincoln Location) The Case for Refinancing |
Save Thousands On Your Mortgage: When You Should Refinance - News Channel 7
Save Thousands On Your Mortgage: When You Should Refinance News Channel 7 (more) When Dwayne Hamm thinks back to when he bought his Spartanburg home 9 years ago, he's amazed by how much times have changed for homeowners. "There's a lot of problems with people who can't afford their home and I don't want to fall in that ... |
Menendez-Boxer refinance plan will entrench government housing - Daily Caller
Menendez-Boxer refinance plan will entrench government housing Daily Caller ... country — your taxpayer money on the line for trillions of dollars lent to individuals and families. This dominance is most notable in home mortgage lending, where taxpayers now stand behind 88% of all new mortgages in America. This is no accident. |