Interest Rates Content Index - Page 3

**ARM Refinance May Be Required To Lock In Low Monthly Payment** If you have an adjustable rate mortgage (ARM), the loan interest rate will adjust at the end of the fixed interest rate period for the loan. When the ARM does adjust, the amortization of the loan will continue in order to have you pay off the loan in full at the end of the loan term. If your ARM was a loan for 30 years, the amortization schedule must work to get you to pay off the loan in full at the end of the 30th year.

**Quit Claim Deeds and Divorce: Better To Refinance Mortgage After Divorce** Signing a quit claim deed upon a divorce can be a mistake. You are much better off refinancing the mortgage after the divorce than letting your ex-spouse control the home by giving him or her title to the home using a quit claim deed. There are other options at the time of the divorce other than a quit claim deed. Years later you may find out that you will be hurt because you gave a quit claim deed when you divorced and now your ex-spouse has incurred additional debts and has harmed your credit history and your credit score.

**Home Buying Risks, Pitfalls and Tips For New Construction Homes** Home buying has risks associated with it, particularly the purchase of a new construction home in a new development. There are pitfall all along the way. What should you do to protect yourself? How do you handle the uncertainty of buying a new construction home in a new development? One reader suggests that the buyer should share any risks in that new construction purchase with the lender that give the buyer the loan. Would you agree? Leave your comment below.

**Refinancing Mortgage Only If You Reduce Your Monthly Payments, Term and Refinance Costs Are Low** Refinancing a first mortgage and/or a second mortgage or home equity line of credit may not be right for everybody. If you refinance the mortgages will you reduce the amount you owe on the mortgage loan? Will you reduce the number of years left to pay on the mortgage once you refinance the mortgage and home equity line of credit or second mortgage loan? If you refinance your mortgage, will the costs you incur by refinancing your mortgage exceed the savings you get? How long will it take for you to break even after you spend money refinancing your mortgages?

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Protesting Property Taxes: Tips For Getting It Done Right. These days every penny counts and as more and more government entities need more money, many of them will rely on property taxes. That means, you have to make sure you understand what your tax bill means and how you should go about determining if your tax bill is accurate. If the bill is not accurate, you'll need to take some action by protesting or fighting your property taxes. You may need to hire someone to contest and protest your taxes or help you by appealing your property taxes, but your ultimate goal by fighting your property taxes is to reduce the amount you'll pay in real estate or property taxes on a yearly basis. As real estate taxes go up, more and more people will find themselves protesting their property taxes.

$8000 First Time Home Buyer Tax Credit And Money From Parents With the $8,000 First Time Home Buyer Tax Credit due to expire on November 30, 2009, parents are coming to the aid of their children by giving them money or buying a home with them to qualify and take advantage of the tax credit. If you are single and have not owned a home for the prior 36 months and make $75,000 or less and buy a home worth at least $80,000, you should qualify for the $8,000 first time home buyer tax credit. But there are exceptions.

Refinancing Mortgage Loans When Home Prices Have Fallen can be difficult. As housing prices have fallen, it's harder and harder to find a lender willing to refinance a mortgage loan, either because the home doesn't have enough equity or home owners financial situations have deteriorated. You can still look for a mortgage lender, mortgage broker, savings and loan or credit union to try to refinance a mortgage loan, but for many it will be almost impossible.

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.

How much should I save each month? That's a question many Americans are pondering in the aftermath of the Great Recession. Some things never change: The more you save earlier in life, the more savings you'll have for retirement. This article includes money-saving tips, as well as a discussion of short-term and long-term financial goals, including saving for retirement. Also included are tips to help you plan our how much you should save each month.