So, you’re trying to line up financing for that luxury car you’ve always wanted; or that new addition on the house your wife has been “gently” reminding you of; or how about the new sports boat to take the kids water skiing every other weekend? Well, in order to make any of these things happen, most of us turn to our friendly local bank to inquire about a loan to turn our dreams into a reality. Your average banker will often tell you that yes, they finance such requests a... [More]
Have you ever bitten off more than you could chew or found yourself asking the question, “How did I get myself into this?” In today’s housing market, thousands of homeowners are asking themselves this very question.
Let’s back track a few years to 2006 – a time when young people applying for mortgages were getting approved for three to four times the amount of what they could actually afford. But hey…spend it if you got it, right? Wrong.
I can gua... [More]
So, you’ve decided to add an addition, pay tuition expense, or have a cushion for life’s unexpected expenses. As your home is one of your greatest assets, many people decide to borrow against the equity in their home by obtaining a Home Equity Loan or a Home Equity Line of Credit. The tough decision is deciding which product will best suit your situation.
When working through the decision of whether to obtain a Home Equity Loan or a Home Equity Line of Credit, there are 4 catego... [More]