The Pros and Cons of Refinancing

Written by Brad Slade


Refinancing has become a valid option for many individuals with high interest rates on their mortgage. Refinancing is essentially a replacement loan, with a different lender and (hopefully) a lower interest rate.

So why would you choose to refinance?

- You may be able to take advantage of lower interest rates.

- You may also be able to extendrepparttar repayment period of your mortgage. While you will end up paying more in interest charges for this, this will reduce your monthly outgoings.

- You may be able to switch from a variable rate to a fixed rate mortgage, giving you greater security inrepparttar 112226 future from potential rate increases.

- You may also be able to increaserepparttar 112227 amount of your mortgage, to pay off other, higher interest rate liabilities such as credit card debt, cell phone debt and personal loan debt. This will enable you to save money on interest rate charges

Why would you avoid refinance?

If you decide to borrow more than your existing mortgage, you need to be wary of your budget. If you default on your payments you runrepparttar 112228 risk of losing your house.

If you do not calculaterepparttar 112229 costs involved with refinancing correctly, you could end up paying more in interest charges.

Thoroughly reviewrepparttar 112230 contract of your existing loan, an early pay out could involve a penalty that would negaterepparttar 112231 benefits of refinancing.

How to Shrink Your Phone Bill

Written by Brad Dudley


Most people don’t think it makes a difference which long distance provider they choose anymore. But, fact ofrepparttar matter is, if you are still using one ofrepparttar 112225 big three, you could save up to 60% on your monthly phone bill. If you know what you are spending, you have already maderepparttar 112226 first step toward saving. The long distance rate is only part ofrepparttar 112227 whole picture when it comes to choosing a long distance company. The fees from one company torepparttar 112228 next make a bigger difference thanrepparttar 112229 actual rate in many cases. For example, a lot of long distance plans with very low rates have higher monthly fees. This is alright if you spend enough every month to make up forrepparttar 112230 fees. But, usually those who only spend $30 or less per month are better off with a long distance provider that offers low fees or no fees and a slightly higher rate. Those who spend more than $30 a month may wish to look into an unlimited long distance calling plan. Recently, these plans have become more popular, and for good reason. Some of them offer unlimited long distance for less than $30 per month. Alongrepparttar 112231 same lines asrepparttar 112232 unlimited long distance plans, you may want to use a bundled service. These plans combine your local phone calls and long distance phone calls on one bill. Some plans are available for as little as $50 per month with unlimited local calls, unlimited long distance, andrepparttar 112233 most popular features such as call waiting, caller id, speed dial, and three way calling.

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