Bad Credit Mortgage Refinance Loan
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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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Property Values are Falling! Here's What's Next ...
A drop in property values is no longer some distant worry you should shrug off. Its not some theoretical, over-the-horizon, possible threat. Its happening right here, right now.
Just as Ive been saying for months on end: First, sales fall. Then, supplies build. Lastly, prices fall. And sure enough, now this 1-2-3 sequence of events is unfolding right before our eyes.
Look at what happened in June, according to the National Association of Realtors:
Sales dropped almost 9% year-over-year.Inventory for sale skyrocketed 39% to a record 3.73 million units. At the current sales price, thats 6.8 months worth of supply the worst since 1997.
The real kicker: Median condo and co-op prices dropped 2.1% from June 2005. This isnt just a regional decline.
Low Mortgage Rates - Are They Only A Dream? Low Home Loans ...
The short answer is No, but they are starting to vanish before our very eyes. If you are to take advantage of low mortgage rates your time is running out. The Federal Reserve is continuing it's policy of raising rates. This will in turn cause the banks and lenders to raise mortgage rates.
Are the banks pleased with raising rates? No. Banks are no more pleased than you and I are, because they actually make more money when rates are low. More people finance and refinance when rates are low. The increased volume of business makes up the loss of interest rate. .
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