prepay mortgage
Seniors: Prepay Mortgage Or Save Cash?
Q: I had written to you a few months ago and never thought I would get a response. To my amazement I was reading your column in Sunday’s paper and my letter was answered by you. I want to thank …
Prepaying Mortgage Will Reduce Length Of Loan
Q: In one of your recent articles, you addressed the point of making one extra mortgage payment a year to reduce the term of a mortgage. Your response states that doing this will reduce the term of a 30-year mortgage …
Mortgage Refinance Rates And Closing Costs Higher For Investment Property
Q: I have two homes in two different cities. One of them is a rental and the other is our primary residence. My wife and I have excellent credit and we have an existing home equity line of credit (HELOC) …
Senior Mortgage: Prepay Mortgage or Save Cash?
When a senior has a mortgage, a common problem might be whether to prepay the mortgage or save their cash reserves. The benefits of prepaying a mortgage come at the end of the mortgage. A senior might not live out the 20 years to see the benefit of prepaying a mortgage. It might be best to save cash reserves rather than prepay a mortgage.
Skip the Refinance, Prepay Mortgage Loan
Skip the refinance, prepay mortgage loan. Prepay a low balance mortgage loan instead of refinance a mortgage loan. Refinancing a low-balance loan is not worth refinance fees, skip the refinance, prepay the mortgage loan. Many lenders will skip a refinance on a low balance loan, so skip the refinance and prepay the mortgage loan. There are times when you should not refinance. Skip the refinance and prepay a mortgage loan with a low balance mortgage loan.
Cash-In Refinance Will Help Raise Equity
A Cash-In Refinance can help you raise the equity in your home to get a mortgage refinance and avoid private mortgage insurance. A cash-in refinance is where you put cash down on your mortgage to raise your equity and refinance your mortgage. You cannot refinance your mortgage if you don’t have enough equity or if you are underwater on your mortgage. A cash-in refinance will raise your equity to the level where a mortgage lender will let you refinance your mortgage. A cash-in refinance will probably lower your monthly mortgage payments after you refinance
Pay Lump Sum Off Mortgage To Save On Interest
Pay lump sum off mortgage to save on interest. Making a prepayment on your mortgage loan or paying off a lump sum saves money on interest. Pay a lump sum off mortgage to get rid of a mortgage loan faster. Paying a lump sum off a mortgage can save years on mortgage loan payments. If you have liquid cash reserves, pay a lump sum off your mortgage and save on the interest of your mortgage loan.
The Ilyce Glink Show — September 20, 2009
September 20, 2009 — Today on the Ilyce Glink Show, Ilyce discussed the latest economic news, including unemployment numbers going up and down. We had a caller to the show who wanted to know when is the smartest time to make a mortgage prepayment, and Ilyce answered more personal finance and real estate questions. Join Ilyce in Atlanta in October for the How to Profit From Foreclosure full-day event. See Ilyce’s blog for a special event discount and for show notes and helpful links.
Mortgage Prepayment May Not Be The Best Idea
Mortgage Prepayment May Not Be The Best Idea. For some people, making a mortgage prepayment can be just fine. For others, prepaying a mortgage in full can add stress if money is needed in the future. And for others, there may be a balance between a partial mortgage prepayment and keeping sufficient cash on hand for expenses that may come up in the future.
Ilyce Glink on WSB Radio – June 28, 2009
Today on the Ilyce Glink Show, Ilyce discussed refinancing your mortgage, and how a successful refinancing focuses on the refinancing trifecta: Can you shorten the length of your mortgage term? Can you lower your monthly mortgage payment? Can you lower your mortgage interest rate? Ilyce also discussed the “Cash for Clunkers” program, and took more questions from callers about FHA loans and property identification numbers, state and federal home buyer tax credits and mortgage prepayments. One caller wants to buy rental property but needs help fixing them up. Ilyce recommends checking out Angie’s List for contractor reviews. For more show notes and links to helpful resources, check out Ilyce’s blog.
