Foster Home Uses Pay Option Mortgage Loan For California Refinance
June 4, 2005 -- "We recently received an application from Angela P. who needed to refinance her California home. While finding out her specific goals for the refinance I learned that she was a foster mom and cared for multiple "crack" babies that had been taken away from their mothers at birth because of testing positive for an illegal substance during labor," states Gary Rees of GoldMedalMortgage.com"She was trying to utilize the equity in her home to remodel and add a bedroom to make it more comfortable for the two teenage and two newborn children her and her husband care for.""For their situation I decided that a Pay Option mortgage loan program would give them the cash flow needed to cover shortfalls. It also lowered their mortgage payment over 1500 a month," continues Rees.A Pay Option Mortgage Loan allows the complete flexibility to decide, every month, which of four mortgage payments you would like to make.This program is ideal for anybody that has fluctuating income such as the self-employed.
Pay Option is also an excellent choice if you are looking to buy a new home and want the lowest possible monthly payment, or if you simply just want to lower your existing mortgage payment.The Pay Option Mortgage is a relatively new product that allows you four payment options each month.1.
15 year payment- Pay your loan off and build equity faster as well as save thousands of dollars in interest2. 30 year payment- This option will let you know how much to pay to have your home free and clear in the standard thirty years3. Interest only option- This option allows you to pay only the interest portion of your monthly payment so you can increase monthly cash flow4. 1% Minimum payment-This option allows you to pay your mortgage at a 1% rate of interest for maximum savingsThe Pay Option Mortgage is the absolute best adjustable mortgage product available today.
It has built in features that protect you from the typical worries associated with an adjustable rate mortgage.
One is the fact that your payment cannot increase more than 7.5% above the previous year for the first five years.
Another gives you the option to convert to a fixed rate mortgage after the first three years.
With these features in place you can rest easy with your new adjustable mortgage.Here is an example of what a Pay Option Mortgage could for youEstimated Current Monthly Payment - $1663.26New first year payment - $833.13Estimated increased monthly cash flow - $830.13Estimated increased yearly cash flow - $9961.52Disclaimer-First years interest rate 1.25%.
Interest charged at 3.45% for the first month.
APR 3.74% subject to increase monthly.
30-year loan.This loan may have negative amortization.
Max increase/decrease in monthly payment is 7.5% per annum for the first five years.
This is an ARM product. Example payments based on 7.0% interest rate and $250000 loan."During the loan process I got a chance to visit her home and was really impressed by the cleanliness of both her home and all the kids. I have three of my own and I can tell you it's a challenge to keep up the house and the kids and the homework.""Clearly a great family!
We decided to waive our fees and pick up the costs involved in this transaction for Mr.
and Mrs. P who are providing love and shelter to the innocent children victimized by addiction." "It was the least we could do for this amazing family that breaks even after buying clothes and food for the kids. For Angela and her husband, this is truly a labor of love!" concludes Rees.For more information on Pay Option Mortgage Loans please call 1-866-398-4664 or go to http://www.goldmedalmortgage52.com..
Refinance Home Mortgage
Copyright 2006 Darren Dunner
Are you considering refinancing your home mortgage? Refinance Home Mortgage allows you to take a new mortgage for relatively lower interest rate. Home refinance is nothing but paying off one home loan with another loan. If you do everything correctly you can easily apply for a refinance home mortgage and pay of your other outstanding debts.
A Refinance home mortgage is the best option for those who have a good financial sense and are willing to put their money to good use. Refinance loans can help you consolidate your debt, lower your interest rate and help you get the cash out. Mortgage loans help you to buy residential or commercial properties without paying the full value of the properties up front, while paying a fraction of the real value of the property.
By getting mortgage loans you are pledging your property against the remaining value of it. The opportunities for getting a home mortgage loan have increased tremendously,...
Refinance Home Mortgage
Refinance > Refinance Home Mortgage
Refinance Your Home Equity Loan
Refinancing your home equity loan is an excellent way to save money. By refinancing your home equity loan you can lower your interest rate and finance for a longer or shorter term. Some things to consider before refinancing your home equity loan are the possible tax benefits, how long you intend to stay in your home, what your long term financial goals are, and how could you use the money to benefit your family. Refinancing your home equity loan is a great way to save money each month.A home equity loan is a great way to get the cash you need and lower your monthly payments at the same time. If you already have a home equity loan you may be able to refinance at a lower interest rate and save money.
With one short application you can get several quotes and be pre-qualified by multiple lenders. The quotes are free and there will be no credit check until you select the lender that will offer you the best terms. Refinancing your home equity loan could give you extra cash each month...
Refinance Your Home Equity Loan
Refinance > Refinance Your Home Equity Loan
What Home Refinance does for you
Home Refinance - Basically, a home refinance is paying off one home loan
with another loan. So the question is, should you refinance or not? How do you
know when it is right for you to get a home refinance mortgage? In other words,
when does home refinance make sense for you?
What Home Refinance does for you
Whenever interest rates drop, as they sometimes do, homeowners might
have the opportunity to save money on their loan payments. As a rule of thumb,
lower interest rates translate into lower mortgage loan rates. Home refinance
allows you to take advantage of low mortgage rates. With a new loan for a
relatively lower interest rate, you can save a few bucks on every monthly
payment that you have to make.
The decision-making process of home refinance involves one basic
calculation. And that is if your savings from reduced mortgage payments are
greater than the...
Refinance > What Home Refinance does for you
Home Improvement Loans
If you need a new guest room or want to remodel your old kitchen to meet modern standards, you should look into getting a home improvement loan. These loans use your current home as equity.
There are two types of home improvement loans available, traditional home improvement loans and FHA Title I Home Improvement Loans. Both the loans require the borrower to be the owner of the house or for the borrower to be buying the home.
The traditional home improvement loan...
Refinance > Home Improvement Loans
Term Life Insurance Quotes
Term life insurance has allowed millions of Americans to secure the financial future for their dependents at affordable prices. As healthcare costs increase, getting an affordable term life insurance quote is now an absolute necessity. With thousands of products to choose from, it is often a daunting task to research for the one which will give you the best value for your money.
Internet based research seems to be the best solution before you decide to meet an insurance agent at...
Refinance > Term Life Insurance Quotes
Refinance Foster Home Uses Pay Option Mortgage Loan For California Refinance
Affiliate And Referral Marketing, The 21st Century Silk Road - Part 2
Copyright (c) 2006 TheTradeGroup.ws
This is my follow up to Affiliate And Referral Marketing, The 21st Century Silk Road - Part 1, if you have not read Part 1, you may search Google for the title above or search the archives of this resource.
Effective and efficient marketing and distribution of products and services, is the missing link that will unite our planet and provide an equitable foundation upon which to build sound economies. I have selected Affiliate and Referral...
Refinance > Affiliate And Referral Marketing, The 21st Century Silk Road - Part 2
Buying Term Life Insurance on the Internet
In the last few years the growth of term life insurance sales via the Internet has exploded and created many new on line life insurance agencies. In the past consumers were skeptical about buying any products or services on the world wide web, however, because of the advanced technologies with regards to privacy and security, most consumers are becoming more and more comfortable purchasing products and services on the internet. Because of all of these new on line agencies the consumer is offered...
Refinance Buying Term Life Insurance on the Internet Foster Home Uses Pay Option Mortgage Loan For California Refinance term life insurance
Refinance > Buying Term Life Insurance on the Internet
House Cleaning
Keeping our houses clean creates a healthy environment. Allergens like dust mites and mold are hard to clean every day, which is why some people have "spring cleaning" days. Spring-cleaning involves going through the house thoroughly cleaning every nook and cranny, sorting out cabinets, drawers and closets ? cleaning far more than everyday household chores would necessitate.
For some, spring cleaning means starting with the ceiling and working down to the floor, cleaning all walls,...
Refinance > House Cleaning