Tag Archive | “peaceful life”

Most Risky Mortgage Types

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Finance and economics are a part of our lives. Each and every year businessmen go bankrupt just because they do not know the proper procedure for operating. In a similar fashion, mortgages can also prove to be very troublesome.

Mortgage – Trouble in Disguise

Mortgage - Trouble in Disguise

It is extremely vital for one to select the mortgage type with care. Many a time’s individuals are not able to pay back in time. This could be a life changing moment when they go out of cash and out of home. Have a look at some of the 5 worst mortgage types which must be avoided to live a mentally peaceful life.

The 40 Year Fixed Rate Mortgage

In a typical 40 year old rate plan, one must pay over US$236,617.86 in interest. This is an extremely huge amount to spend for just anybody. In comparison to a 15 year old rate plan, only US$67,858.83 has to be paid in interest for a house costing US$200000. This huge sum of money can come of great benefit after retirement.

The Interest Only Mortgage – The I.O Type!

The Interest IO Mortgage type is effective for Real Estate Investors or individuals who experience fluctuation in earnings. The actual cost of the home remains the same. Read the full story

Repay Your Mortgage

Tags: , , , , , , , , , , , , , , , , , , ,

After buying a new home, you have to pay off the monthly payments of your mortgage. Paying off certain amount of payment each in this strict economic recession is really a nerve stretching, but you have to pay off your mortgage. Following are some useful aspects of paying off mortgage as soon as you can pay it off.

repay your mortgage

Why you should pay off mortgage?

The first reason to pay off mortgage in short period of time is to save a substantial amount of money. It is wise to go through the agreement before you sign it at the time of purchasing your home. You should carefully go through the amortization schedule. The second important reason to pay off your mortgage as soon as possible is to achieve peace of mind that you could gain from getting the ownership of your home.

Misconception about Paying Off Mortgage

Majority of mortgage holders consider that paying off mortgage is an unfavorable financial move. These people claim to save money in the long run instead of paying off their mortgages in quick time. To some extent, you save money by paying off your mortgage over an extended period of time, but chances are not always bright.

Arguments against paying off mortgage don’t seem to be strong when it comes to get the ownership of your own place. Majority of people don’t care about the cost of houses and they mainly concentrate on getting the possession of their own homes. Another argument against paying off mortgage is to get a tax break from the mortgage interest. This is a dubious argument, but it is very popular among mortgage holders. In fact, mortgage interest gives you tax break. It is not suitable for you if you are with the highest tax bracket. Read the full story

Warning: mysql_pconnect() [function.mysql-pconnect]: Host ‘gator571.hostgator.com’ is blocked because of many connection errors; unblock with ‘mysqladmin flush-hosts’ in /home/macbethe/public_html/lmc/wp-content/uploads/links_sidebar.php on line 11

Fatal error: in /home/macbethe/public_html/lmc/wp-content/uploads/links_sidebar.php on line 11