Bad Credit Mortgage N Refinance

Home Loan Refinancing Executive Offers Tips to Avoid Getting ...

Miles Masters, Executive Vice President of Advantix Lending, Inc. offers his advice on KTLA-WB Morning News to people interested in refinancing a home loan, but struggling with a bad credit score.

Irvine, CA (PRWEB) July 24, 2006 -- The last several years have seen interest rates hit all time lows and real estate values steadily soar. Consequently, the home loan refinancing market has seen plenty of action. Even though mortgage rates have started to rise again, low mortgage rates are still the motivating force that drives most homeowners with good credit to refinance their home loan.

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Bank of America Leads US Regional Bank Profit Gains on Loans

July 19 (Bloomberg) -- Bank of America Corp., the No. 2 U.S. lender by assets, led U.S. banks reporting higher second-quarter profits fueled by a boom in loans and credit-card fees.

Bank of America, based in Charlotte, North Carolina, today said earnings rose 18 percent to a record $5.48 billion, or $1.19 a share, as its acquisition of MBNA Corp. buoyed in revenue from credit cards. SunTrust Banks Inc. and PNC Financial Services Group Inc. led regional banks reporting higher profits, while Bank of New York Co. led gains at custody banks.

U.S. banks' earnings are rising in part because of a drop in bad loans after last year's new bankruptcy law made it tougher for Americans to seek protection from creditors. JPMorgan Chase & Co., the No. 3 U.S. bank, said profit more than tripled to a record $3.54 billion as fewer credit-card customers defaulted on debts and trading revenue rebounded.

Increase should make investors choosy

SUPERFICIALLY, rising rates mean investors should avoid share market sectors including banks, discretionary retailers, consumer manufacturers and anything to do with construction or highly geared infrastructure plays. The shorthand version? Get out of equities and park your funds in a cash management account for the time being.

But, as with most so-called investment truisms, it's not as simple as that. In reality, Wednesday's official rise had long been anticipated and was factored into market valuations already.

Austock senior client adviser Michael Heffernan is one of many market watchers who suggest investors have overcompensated in expectation of a series of rate hikes.

"The chances of another rise are Buckley's and none, which means there's a lot of bargains out there," he says.

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