Rental Property - Refinance, Don't Sell

Written by Steve Gillman

Continued from page 1

A bank will probably loan you 70% ofrepparttar value, or $280,000. After paying offrepparttar 149291 first mortgage, you are left with $160,000. With todays lower interest rates, your payment onrepparttar 149292 new mortgage will be aboutrepparttar 149293 same. At most you might lose $50/month in cash flow.

An even better scenario: Use $40,000 for high-return upgrades torepparttar 149294 property, such as carports or laundry rooms, and then raiserepparttar 149295 rents. You could have $120,000 left over to spend any way you want, AND have higher cash flow. Does that sound better than selling your retirement plan? Don't sell. Refinance that rental property!

Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit

The Debt Test: are you making out a mountain out of your mortgage?

Written by Rachel Lane

Continued from page 1

The mortgage market is also watched very closely byrepparttar consumer research website, moneynet. In addition to tracking market behaviour, property values and homeowner incomes, moneynet have endeavoured to become increasingly proactive about educating their visitors, so they fully understandrepparttar 149290 complexity ofrepparttar 149291 relevant financial products. In addition to their mortgage comparison service and mortgage protection options, moneynet published a comprehensive mortgage guide earlier this year, as part of its series of consumer product guides. Moneynet isn’trepparttar 149292 only site to offer enhanced information services; Which? also offers a detailed mortgage guide and mortgage search tool powered by Moneyfacts. Both “Switch with Which?” and moneynet takerepparttar 149293 consumer throughrepparttar 149294 types of deal available, detailingrepparttar 149295 different interest rate structures including fixed rates, capped rates, discounted rates, stepped rates and standard variable rates.

The CML state that there is much evidence to show that first-time buyers appreciate this information, includingrepparttar 149296 “debt test”, more so than older households. This is perhaps due torepparttar 149297 fact that many first-time buyers have to borrow much more for their initial property, due to high prices, and that they have generated more personal debt than their parents’ generation. Whilst personal debt remains a major concern forrepparttar 149298 finance industry,repparttar 149299 government andrepparttar 149300 public, financial stability remains possible with education.


Moneynet Mortgage Guide

Which? Mortgage Guide

Council Mortgage Lenders

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