So you are thinking of looking for a home mortgage with better home loan rates. You want to refinance your house loan. But, do your research first and just don’t switch home loans for the first one you like.
You already have a first mortgage on a condominium in Singapore (I wish, I know). And when you took out the original mortgage loan, it had a fixed home loan rate for the first 5 years and now it is has reverted to a variable mortgage rate.
Now you have some equity in your home you may want to refinance your mortgage to get better rates and conditions. You may even consider buying a second property somewhere – maybe somewhere off the beaten track in Italy. And you may want to do this with no money in the bank.
Believe it or not, you can actually buy a house with nothing in the bank. Don’t think it is that easy though. Your will at least need property of some sort to put up as capital for a second mortgage. Look refinancing the mortgage on your first home to free up capital buy another home. Read the rest of this entry »
For so many years, lenders have said no to tenants. And treated them like second class citizens because they do not have a mortgage. There may be a lot of reasons for this – many are happy renting, or can’t afford a mortgage because they rent. How often do you dream of getting off the rental merry-go-round? Ever had the landlord from hell? Or maybe you need a new car or just want to do something better in your life but you have nothing to put up as security. Maybe you just have a bad credit rating because of a misspent youth you are still trying to recover from.
Buyer beware applies to the lending market as much as anywhere else. Today’s market is seeing a battering with high defaults on loans, rising debt and bankruptcy which snowballs right throughout our communities. And with this comes the sub prime mortgage crisis. 
Probably the first thing that anybody with a student loan outstanding wants to know is, “Will my loan be in jeopardy because of the recession?”