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Showing posts from June, 2010

Mortgage rates and its effects on refinancing

For many mortgage payers, refinancing is not only a big option but the one & only solution. The main advantage of refinancing your property is that it effectively reduces the interest rates as well as monthly payments on mortgage . Even it is same if you have a balloon mortgage to pay off. In case of this short-term loan, your monthly payments on mortgage are figured out on the basis of 30-year loan amortization schedules. But as the name suggests, after a short span like 5-7 years the rest of the loan should be paid as the balloon payment. Mortgage finance faced a turn down during the recession period. But as the period is going to over gradually, lenders have started offering comparably cheaper home loans . Mortgage rate variations : It is evident from the latest figures that, mortgage rates have dropped to seven year low ! According to the researchers, before 2 years at the time of financial turnroll, the average rate on a 2-year fixed rate mortgage exceeded

Save your money

It has been said..... "Save for the rainy day" . Yes..money is the mostly needed thing to run our life smoothly. You need to save your money to lead a happy and worry-free future life. You never know when life will make you stand before a serious challenge. It's a wise and nice idea to save your money for future to meet the upcoming needs, to commit the responsibilities and to maintain a contended life. To save your money first of all you need to stop spending more than your earning. To set up a financial goal, firstly set up a budget A budget planning helps a lot to keep one's spending compatible with the earning. Personal budget planning to save your money is the most important skill to plan a better future life. "If you fail to plan, you plan to fail" ...do not forget this. Simultaneously try to make more money. You can opt for some part-time jobs. To get a large amount try for a better job with a higher payment. Sometimes excessive use of credit cards