Refinance of Southern California Foster Home Improves Living Conditions
(ContentDesk) March 3, 2006 -- In this business we hear many stories of why people need to refinance. Every now and then one story sticks in the mind, states Donovan Rees of GoldMedalMortgage.com"We recently received a call from Angela P. who needed to refinance her California home. At first it started out normally, but then more specific needs for refinancing came to the surface. Angela and her husband are foster parents that care for several "crack" babies in their home. These babies have been taken away from their mothers at birth because of testing positive for an illegal substance during labor. "She wanted to refinance and use the equity in her home to remodel and add a bedroom.
This extra bedroom would make it more comfortable for the two teenage and two newborn children currently in the foster home," continues Rees."For their situation it was decided that refinancing with 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." A Pay Option Mortgage Loan allows the complete flexibility to decide, every month, which of four mortgage payments a borrower 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 when looking to buy a new home for the lowest possible monthly payment, or for simply just lowering an 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 the loan off and build equity faster as well as save thousands of dollars in interest2. 30 year payment- This option will allow borrowers to own the home free and clear in the standard thirty years3.
Interest only option- This option allows payment of only the interest portion of monthly payment which in turn increases monthly cash flow4. 1% Minimum payment- This option allows you to pay 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 borrowers 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 savings on a refinance using a Pay Option Mortgage:Estimated Current Monthly Payment - $1663.26New first year payment - $833.13Estimated increased monthly cash flow- $830.13Estimated increased yearly cash flow - $9961.52This 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 Angelas refinance loan process we had a chance to visit and were impressed by the cleanliness of both Angelas home and all the kids. It's a challenge to keep up the house and the kids and the homework.""This is clearly a great family that is providing love and shelter to innocent children victimized by addiction. In support of Angela and her husbands dedication to this cause, it was decided to waive our fees and pick up the costs involved in the refinance. It was felt this was the least we could do for this amazing family, a family that breaks even financially 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 refinancing with Pay Option Mortgage Loans please call 1-866-398-4664 or go to http://www.goldmedalmortgage.com Camelot Marketing is a full service agency based in Southern California specializing in providing turnkey solutions for small to mid-size clients that do not have in-house marketing capabilities. For more information call Keith Hunt 909-987-1233..
Refinancing Your House - How To Know Whether To Refinance Or Get A Second Mortgage
Refinancing your house's mortgage is not the same thing as getting a second mortgage. While both allow you to cash out your home's equity, terms and rates differ between the two types of loans. To know which financing option is best for you, learn each loan's features and pick the one that best meets your needs.Refinancing Your MortgageTraditional refinancing is basically replacing one mortgage loan with another. Typically, refinancing lowers mortgage payments through lower interest rates or longer loan terms. You can also cash out part or all of your home's equity while refinancing.
Refinancing requires paying closing fees. To recoup these costs, you usually need to stay in the house for a couple of years. However, you will save money with better terms than if you choose a second mortgage. Second Mortgage OptionSecond mortgages, also known as home equity loan, have slightly higher rates than mortgages, but you have less or no closing costs. Second mortgages also only charge interest...
Refinancing Your House - How To Know Whether To Refinance Or Get A Second Mortgage
Refinance > Refinancing Your House - How To Know Whether To Refinance Or Get A Second Mortgage
Refinancing Your Home Loan? When Should You Refinance Your Home?
If you have a current mortgage and are unhappy with the interest rate or the amount of the monthly payments, it is possible to refinance your home and eliminate your problems. But before you call your lender, there are some questions that you should ask yourself in order to determine whether or not it's the right time for refinancing your mortgage loan.The first question that you should ask yourself is if you have the cash on hand to pay the fees. Depending on the amount of your mortgage, and the specific fees that your lender will charge, you could pay anywhere from a couple of hundreds dollars to a few thousand. Be sure that you're financially ready for the move before applying for the loan.Next, you should take a look at the current interest rates compared to the ones on your existing mortgage, and then decide whether or not a refinance would help your situation. For example, if you have an ARM mortgage, and the interest rates are at an all-time low, you might want to refinance your...
Refinancing Your Home Loan? When Should You Refinance Your Home?
Refinance > Refinancing Your Home Loan? When Should You Refinance Your Home?
Refinance mortgage loan
A refinance mortgage loan can help you get cash for the equity in your home. Home equity refers to the value of the house that has already been paid for. This will include your down payment and the all the monthly payments you have been making. Once you have built up a substantial investment in your home, you can use that to get a refinance mortgage loan, which will give you cash on your equity.A refinance mortgage loan, like most other loans, will have to be paid according to a monthly amortization schedule, which will include the principal payment and the interest payment for the month.So what makes a refinance mortgage loan different? It is the low interest rates that make it appealing to credit consumers. For example a low rate refinance mortgage loan can allow you to pay off your credit card, department store card, and other high interest consumer loans.
This means instead of paying 20-25% interest every year, you may be down to only 3-6% interest payments. Thus you could...
Refinance mortgage loan
Refinance > Refinance mortgage loan
Fun for the Entire Family - Ellis Ranch Pumpkin Festival - Giant Hay Maze - Horsedrawn Wagon Rides - Candy in the Haystack - Barrel Train Ride - Marshmallow Roasting, Fun list goes on and on.
This festival is truly an event for the family. Finally an event where parents and children have inter-act together! Adults are able turn back into a child themselves. Parents running on top of the Hay Maze, Bobbing for Apples and showing their child how to roast a marshmallow. Everyone loves feeding the goats, calves, ponies, & Lucy the pig. Activities available with your admission fee; Parking, Ranchland with Farm Animals, Marshmallow Roasting, Bobbin' for Apples, Giant Hay Maze, Candy in...
Refinance
Refinance > Fun for the Entire Family - Ellis Ranch Pumpkin Festival - Giant Hay Maze - Horsedrawn Wagon Rides - Candy in the Haystack - Barrel Train Ride - Marshmallow Roasting, Fun list goes on and on.
Preparing For Cosmetic Plastic Surgery
Copyright 2006 Park Meadows Cosmetic Surgery
Congratulations ? you've finally decided to take the next step and proceed with cosmetic plastic surgery. While this is an exciting time for you, we understand that you may also have some anxiety about the coming weeks.
To ensure your cosmetic plastic surgery experience is a safe and smooth surgery and recovery period, we've put together a few tips and strategies. From today until the morning of your surgery, use these tips...
Refinance > Preparing For Cosmetic Plastic Surgery
How To Buy Used Vehicles Debt Free
New cars are one of the worst purchases that we can make due to the rapid decrease in value, especially over the first three years. When we finance these vehicles, this turns a bad situation even worse. We have now added a couple thousand dollars in interest to the cost of a depreciating item.Used cars are the answer to avoiding this big hit in depreciation, but many people still finance the used car. Let's take a look at how you can buy used vehicles even when you have very little to start with....
used cars Refinance How To Buy Used Vehicles Debt Free Refinance of Southern California Foster Home Improves Living Conditions
Refinance > How To Buy Used Vehicles Debt Free
Color Contact Lenses - Are They Safe?
Do you want to find out how you would look with blue, green or amethyst eyes? But you have heard that color contact lenses might cause problems? Here we will discuss how color contacts can affect the health of your eyes, and give you simple tips to follow so your color lenses never give you any troubles.There are two main reasons why color contacts cause your eye problems, and both are easily avoidable. The first cause is buying color contacts of inferior quality without a doctor's prescription;...
contact lenses
Refinance > Color Contact Lenses - Are They Safe?
A $500 Payday Loan Can Help In an Emergency
A $500 payday loan can be a real life saver during one of life's financial emergencies. Whether it is a much needed car repair or an unexpected bill, payday loans can provided extra cash while helping you keep a good credit history. The key to payday loans is to pay them off as soon as possible.Emergency HelpPayday loans are ideal short-term loans for emergencies. With their 14 day due dates, payday loans help you to pay unexpected expenses and build a good credit record. Payday loans also...
payday loans A $500 Payday Loan Can Help In an Emergency Refinance
Refinance > A $500 Payday Loan Can Help In an Emergency