Things are definitely getting more expensive. |
This is very popular right now because it lets you draw some money out of your home and improve cash flow. If you do this, resist the temptation to draw too much equity out of your home. |
This would free up cash now, while still minimizing their exposure to rising rates during the period they expect to remain in the house. |
Welcome to the cold reality. A lot of people selected short-term interest rate product and are now beginning to see how these things benefit the lender. |
What is new today is that lenders are allowing for the layering of risks on top of one another, ... What we don't know is what if we put all these risks together and put them in a rising interest rate environment, a declining housing market, or a weakening economy. |
What is new today is that lenders are allowing for the layering of risks on top of one another. What we don't know is what if we put all these risks together and put them in a rising interest rate environment, a declining housing market, or a weakening economy. |
Whenever business slips a little, lenders trot this stuff out. |
With rates as low as they are people can cut years off the mortgage for the same monthly payment. |
You could go to almost any lender and for no fees find yourself with a decent rate. |