A mortgage is basically like a giant house-sized savings account. The "savings" is your home equity, which is the appreciation of the value of your home and the amount of principle you have
paid off of your mortgage. The rest of the money is paying interest to the bank for lending you the money. Mortgage math is really quite simple. Say you took out a 30 year fixed mortgage 10 years ago. You've put money towards your interest and principle and your home has increased in value. If interest rates are lower than they were when you bought your home, you can refinance and take out another 30 year fixed mortgage. You are now borrowing less than you had to when you first bought your home, at a lower interest rate, spread out over more time. Your monthly payment is likely to drop considerably. In this situation, depending on your financial situation, you may also want to refinance into a shorter term loan so you can pay off your home that much more quickly.
Refinancing Home Mortgages to Extend Your Term
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166 comments:
Such a good advice for people who want to extend their term
As a general rule, refinancing home mortgages truly only works if the interest rates are low, and if it saves lots of money which would have else been used to pay off the monthly recurring bills on the current loan. In addition, by refinancing home mortgages one is able to get better credit because he will be able to make your payments quicker.
This endeavor will certainly help one who is new to this mortgaging. Throwing light on Second Mortgage and its justification whether it is needed or not is quite appreciable.. good work.
The article is really good if u ask my rating for this article for 5 out 5 I will shurely give 4 Ratings Because the article contains maximum required information which really helps any one if they come across this article for information
Good article thanks for giving advice about Refinancing Home Mortgages to Extend Your Term
More favourable lending conditions may reduce overall borrowing costs. Refinancing is used in most cases to improve overall cash flow.
The best article regarding home mortgage to extend your term. And i agree with the above person that favorable lending conditions do reduce overall borrowing costs. Thanks for the info.
although a short article. but this is called the article a short solid and reliable.
A great article about the Refinancing Home Mortgages. Thank you.
A brief and informative explanation. Great for people like me, who are new at this thing and want to read simple explanations about it.
you can choose the long term mortgage if you cant pay in short term..
thanks for your advice
cash flow can be improved by refinancing
Thanks for this article its very helpful to me.
Its really helpful for me after reading this article thanks for the great article
Term is really matter how financially sound you are in refinancing home mortgage. You can pay it for a long period or pay it within a specific period.
it's really very intersting,thank you for this arcitle.i will use these informations...
Thanks for sharing, i will share this to some of my friends that's into this kind of activity. Hoping for more updates. Thanks!
This information is very useful... It would help out many confused people regarding mortgage refinancing. Thanks for sharing
The article is really good if u ask my rating for this article for 5 out 5 I will shurely give 4 Ratings Because the article contains maximum required information which really helps any one if they come across this article for information
Well written article with the perfect info. Thank you very much.
As you mentioned in your post mortgage is like a big saving account and you can term it for a longer period if you are not in a position to pay in near future, nice informative post.
great tips again..thanks..i'll try this tips
Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home.
The article is really good Thanks for this article its very helpful to me.thaks for sharing...
Yeah refinancing has lot of benefits than i expected. i can earn as much as i can now with this.. Thanks for useful information..Its time to move on
An informative explanation. Great for people like me, who are new at this thing and want to read simple explanations about it.
A mortgage is basically like a giant house-sized savings account. The "savings" is your home equity, which is the appreciation of the value of your home and the amount of principle you have paid off of your mortgage. information,on this blog is very helpful..
Thanks for your advice and your information..
nice contents are provided in this article,it helps me in taking some further steps.thanks for posting.
refinancing at a lower rate is what everyone wants to overcome financial burden.. The step by step explanation is quite well delivered
The information found tin this article are very useful and helpful to people who are looking for refinancing home martgages.
Refinancing home mortgage is also giving you more option on several thing that will help you to save more cash.
Very detailed guide and Home Mortgages right now are too low so it's very important to extend your term to make most out of it. Thanks a lot for this guide.
Very much informative article. Thanks for sharing.
awesome article regarding home mortgage to extend your term. And i agree with the above person that favorable lending conditions has to reduce the borrowing costs.
I AM NOW FULLY UNDERSTAND FROM YOU ARTICLE WHAT IS Mortgage Refinancing.
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If refinancing is done with a longer period then the EMI can be less which will not be bothersome.
seems great but it should be favourable of our income. if less income then it may not be suitable
good article
Property business is very profitable right now, with adequate risk contorol property is one secure business solutions and promosing
super article about refinancing,keep sharing.
Here i got some valuable information about house loan.Thanks for posting here like this nice article.
money makes the world spin, great article here, it is very usefull !
thanks for sharing, am also like this, very good advice for people.
increasing period of your mortgage is really nice idea, thanks for the information about it.
the article is nice and it is useful to know about these information
Due to recession many people are finding it difficult to manage their debts.Loan refinancing is a good option.
but how if you can't get your home back? because credit jam?
refinanced home mortages to extend your term is a userful article for me . thanks u.
Very very informative one. All the points are covered and explained nicely. keep posting such articles like this.
detailed guide and Home Mortgages right now are too low so it's very important to extend your term to make most out of it.
great article thanks for posting it, home mortgages are quite low these days, we better use this to our advantage
While a mortgage in itself is not a debt, it is the lender's security for a debt.
Well done, therefore careful decision made for mortgage loan refinancing will be able to help you out with your cashflow and remember the interest paid on martgage loan are tax deductible which means you pay less income tax and able to increase you spending!
More favourable lending conditions may reduce overall borrowing costs. Refinancing is used in most cases to improve overall cash flow.
excellent article. keep up the good work. thank you very much
Read this one too, keep posting about this refinancing how as someone out there need this info...
the refinancing home mortgage really helps to extend our term.
iam looking for what you are talking about
in this article , its a wonderful explication
nice article
Refinancing home mortgages could be the best solution for some people because there are some benefits they can get.
Extend the term may save us some money.
It's a good choice to extend our term in order to save some money
nice article,keep posting. i always read this site..
Property business is profitable right now, with risk contorol property is one,of
secure business solutions and promising
You've put money towards your interest and principle and your home has increased in value..
Very useful article mate. Thanks for the information
This seems to be a nice guide for home owners especially the mortgages ones. Thanks and Kudos to You!
I was surfing the internet for hours in order to find this type of information!I finally discovered this article on this blog.Very good information.Great article.This is useful for all the people, not only for those who want to extend their term.
this article is so useful for me,thanks man
Before planning your mortgage refinancing, read this article to gain some knowledge regarding the mortgage refinancing.
this is a nice article,thanks.
Good article thanks for giving advice about Refinancing Home Mortgages to Extend Your Term.Thanks.
Very interesting article...
I have seen Your Blog which is really having a good content with pin to pin information ,where even we can understand very quickly and i feel if any one comes across this blog thier search would end here as the article provid the complete information
Extending your Term may cause some financial activity's but this is really good if you have the money to extend your term, and thank you so much for the post.
Sometime we need to extend our term because of some financial problem
this article provide good information, detailed explain, good keep it up.
very good article, which has very good information which I am looking for. thank you so much.
thanks for sharing this topic
article is great and article has some nice intent
I think this article is very detail and informative. I have been looking for this kind of article for along time. I finally find it.
well explained tips for home savings. very nice article. thanks u very much for sharing.
I will be following this blog closely. I see you put a lot of thought into what you write.
Read this article make understand about refinancing
A great article about the Refinancing Home Mortgages. Thank you.
a very interesting article, very clear for a beginner like me.thx man..
good article every one should read these article it is very infomative about Refinancing home mortgage is also giving you more option on several thing that will help you to save more cash.
A brief and informative explanation. Great for people like me, who are new at this thing and want to read simple explanations about it.
I think all this is depend on our age. The older we are, the shorter refinance period we have. So, we should start thinking of refinancing at the early stage.
Typically, this amount is expressed in "points" (also sometimes called "premiums"), with each "point" being equivalent to 1% of the total loan amount.
excellent article. keep up the good work. thank you very much
the refinancing tips to home mortgage are really essential to extend our terms and it really helps everyone.
good writer always provide good writing, thank you...
great article thanks for posting it, home mortgages are quite low these days, we better use this to our advantage.
wonderful article and superb facts about home mortgages.
thanks for this article, i really appreciate your effort in making such a good and informative posts, peace out bro.
in my opinion this article is great to know about home refinancing. Another use of refinancing is to reduce the risk associated with an existing loan.
Sometimes it would be in your best interest to extend your mortgage term but it all depends upon your current situation, nice post in the end.
i think it is really nice post.
easy to read and interesting & informative
i think it is good for a lot of people to read this.
keep posting!
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Reader will never bored reading this, because It's short and Easy to read too ^^b
keep posting =D
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I believe the length of loan term is depending on our finance situation.
nice article,thanks a lot.
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In fact, as long as the prevailing market rate is lower than your existing rate by 1.5 percentage point or more, it is financially beneficial to refinance because there is little or no cost in doing so
All the situations and solutions to the home mortgage problem was listed and explained elaborately i found this post intresting i appreciate your work
all situation with it soulition in this artical i find this is very help full for me
This is really a new field to me. I think I’ve learned more than before from your writing. I think that this article may be very useful and first off all very helpful. I will give 5 out of 5 rating for this article.
nice title topic man and nice topic..thanks for share to us
I have learned here that to be cautious with mortgages. thanks for this informative resources.
This endeavor will certainly help one who is new to this mortgaging. Throwing light on Second Mortgage and its justification whether it is needed or not is quite appreciable.. good work.
you can choose the long term mortgage if you cant pay in short term..Thank you.
This article will help lot of people, and it contain very important informations.
One of the best value about refinancing our mortgage is that we will be able to extend our term. It is one of the best solution. Great article.
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nice article, easy to understand, high value contents, i will tell my friends to come and benefit from this blog, thanks a lot for taking the time to inform us about how to extend our term by refinancing our home mortgages
Nice article I do believe that home mortgages extending is a good investment.
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the refinancing home mortgage really helps to extend our term, keep sharing the cool info.
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Refinancing your mortgage and get a chance to extend your term. You should give it a try.
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SO NICE ARTICLE TO UNDERSTAND.THNKS MAN VERY MUCH FOR SHARING
I agree,it's quite simple really once someone explained it to you:P
I agree with all of your information and I enjoyed reading this thanks.
Nice advice, helps a lot for a newbie like that currently learning this areas of expertise
thanx, i've got enough information here,,
By refinancing an adjustable-rate mortgage into a fixed-rate one, the risk of interest rates increasing dramatically is removed, thus ensuring a steady interest rate over time
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I agree with your advise. and this article contain full of information.
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More favourable lending conditions may reduce overall borrowing costs.
the article is nice and it is useful to know about these information
Refinancing home mortgage is very helpful in extending the term. This article illustrated the topic perfectly. Thanks for sharing.
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A very nice and realistic article that describe the advantages of mortgage refinancing .information provide to us, which is very useful.thanks a lot.
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This is a very well written and informative article. I got some valuable things from here.
Besides extending the terms,one of the reason we doing refinancing is to reduce our debts burden.
nice advice for people like me, who want to extend my term
great explanation on extending mortgage terms, good job
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u deserve 10/10 for your write style . i have understood all thing and am looking for what you talk about , thax alot for sharing
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it is a good idea to refinance the mortgage loan
Nice blog and you give good information. I got some valuable information in your blog.Thanks for posting and sharing your article in Refinancing Mortgage topic
thank u excellent article nice information provide to us, briefly explanation, thanks a lot.
this article is very informative with very valuable information because i was preparing to refinance my home mortgage
Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates
Home is one of our asset. Refinancing home mortgage sure can extand our term
I think refinancing is the answer to most financial problems right now, because it's liquidity is really fast and you can recover fast enough to be able to solve your problems again. Thanks You!
Nice job. I can see you are very competent about what you write. I will be looking for more posts by you.
It's true that mortgage refinancing is like a saving account for you and you can extend it for longer terms to gain benefits but it's very much depend on your current situation, very informative post.
I think that refinancing would work for many people who are looking for the best solution and now i learn that time factor also comes into key role play.nice tips must follow to achieve secure refinancing.
One of the factor people choose to refinance their mortgage is to extend the loan terms. By extending the terms for the loan, the owner able to save some money and at the same time reduce their debts.
to obtain the benefits of refinancing that we do, we must do so in good time to consider interest rates and the use of funds obtained from refinancing is wise, so we do not regret having made the decision to refinancing our house ..
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