Tag Archive | "refinance"

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Inflation: Time to Rethink That HELOC?

Due to recent cuts, the prime rate is very low right now (5.25%). That means most HELOC borrowers are paying less in interest every month. Some financial advisers have suggested that the rate cuts make today a smart time to take out an adjustable rate home equity line. However, not everyone agrees. While HELOC rates are [...] [...more]

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Some HELOC Lenders Prohibiting First Mortgage Refinances

Some HELOC lenders are no longer agreeing to first-mortgage refinances, forcing customers to either payoff or refinance their HELOCs before refinancing their original home loans. How Can This Happen? When a borrower takes out a HELOC, the HELOC lender agrees to be subordinate to the first mortgage lender. In a nutshell: if the home must be foreclosed [...] [...more]

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