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October 17, 2006
Home Equity Loans and Mortgage Interest
Oil prices have dropped and may help offset some of the obstacles in the marketplace, suggesting that consumers may slow down, but prices are unlikely to go into reverse unless mortgage rates continue to be lowered. In the current economy, home equity loans are available as sub-prime loans in any amount from the equity in the collateral to 100%. A few non-conforming home equity lenders will even offer 125% of the home value balance less the first mortgage balance. If a property has both a first and second mortgage equal to 100% of the property value and interest rates have dropped below both mortgage rates, the lender may do 100%
From Home Equity Loans and Mortgage Interest
Posted by Alex at October 17, 2006 10:32 AM
