My Refi's a HELOC. Anything Wrong With That? - Fox Business

My Refi's a HELOC. Anything Wrong With That? Fox Business We just found out the loan we have is not really a mortgage but a home equity line of credit. Are we at a disadvantage with this type of loan? It's a 15-year loan at 3.99% interest with a $500 penalty if we pay it off in the first three years.

Banks not lending, but not willing to let credit unions lend either - The Hill (blog)

Banks not lending, but not willing to let credit unions lend either The Hill (blog) In this upside-down real estate market, depressed home prices mean that small businesses cannot get home equity loans, forcing them to go to banks for capital. But the banks aren't lending. Last year, banks rejected 60% of small business loan ... and more »

Cleaned-up equity release: Handle with care - The Independent

Cleaned-up equity release: Handle with care The Independent A lifetime mortgage is in effect a home loan where the interest builds up over the term and then is paid off, together with the capital sum, when the house is sold or the owners move into a care home. The key disadvantage is that it is a very ... and more »

Phyllis, 93, forced to take out equity release mortgage to stay at home - This is Money

This is Money

Phyllis, 93, forced to take out equity release mortgage to stay at home This is Money With only £300 in her bank account and desperate to stay in the comfort of her own home, she applied to release £10000 equity from her £650000 cottage. Sadly, Phyllis is just one of those whose prudence is being punished in their old age. and more »

How to tell when an FHA loan is right for you - Newsday

Newsday

How to tell when an FHA loan is right for you Newsday Since the home mortgage crisis, the FHA has tightened up some rules. But for many home buyers, FHA loans are still the most surefire way to finance a purchase. The loan limits for single-family homes range from $417000 in most parts of the country to ... and more »