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In the previous articles, we saw that weekly mortgage repayment could save you more money than if you pay every month. Why? The explanation is simple and doesn’t change anything in the amount you have to pay. Given that there is less time between each payment (every week instead of every month), a portion of the [...] Have you ever hear that it is better to repay your mortgage every week or every two weeks? Is that true that this strategy could save you a lot of money in interest fees? In order to understand this strategy, we have to define two different weekly payment options. The first one is the accelerated weekly [...] In the previous article, we explain how works open home mortgages in relation with closed ones. We also discussed interest rates of that kind of mortgages. In this article, we will see examples to illustrate the difference. 1. Imagine you decide to take an open home mortgage of $100,000 and you think you will be able [...] The only home mortgage that is repayable at any time without penalty is the open mortgage. And most of these have variable interest rates. Of course, some open mortgage have a fixed interest rate for 5 years, but this rate is very much higher. So, it might be not useful for you to get fixed rates. And [...] As said the English philosopher Francis Bacon: “The real power is knowledge”. It is the main reason why our website is giving you information and advices to avoid problems and bad experiences related to personal finance (loans, home mortgage, insurance, etc.) The more you know, the better you choose… Thus, a third interesting point to talk [...] Another important point to consideris the renegotiation of your mortgage interest rates. Imagine you want to renegotiate your home mortgage loan in order to benefit from lower interest rates. Here is a common scenario: you meet the consultant at your bank. After reviewing your financial situation, he goes to see his supervisor he returned to you [...] There are often problems when you talk with home mortgage representatives from banks. Even if they do not seem to work for you, other banks would probably offer the same poor service… Ordinary people could often think they do not earn enough money to get good service: they are often disappointed. Here is the first important point [...] |
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Home Mortgage, Refinancing, Insurance, Loans, Credit Cards, etc. Financial Information Center - 2010 |
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