| Banks See Spike In Refinancing Applications
MADISON, Wis. -- Refinancing applications have surged 17 percent after interest rates dropped three-quarters of a point in the past week -- and they could go lower. VIDEO: Watch The Report But financial experts said it is important to know when it's best to refinance and if the type of loan a consumer has is even affected by this week's federal rate cut. Don Bertucci, AnchorBank's senior vice president of residential lending, said the last few days have been hectic. He said the phones have been ringing and the online applications have been coming in, all in response to this week's rate cut by the federal reserve. So, what does the 0.75 percent rate cut mean for residents? "It would affect mostly second mortgages or home equity lines of credit, where the rate is adjustable," Bertucci said.
Dorchesterlife Receives Sherpa Seal Of Approval
For many older New Zealanders, working past retirement age is becoming a financial reality with policy changes and socio-economic developments becoming more influential on when to retire. Reverse mortgages offer one solution to retirement funding but with more companies offering these plans, knowing who to trust can be difficult. DorchesterLife, which offers both Home Equity Release loans and Reverse Mortgages, is proud to be a member of SHERPA (Safe Home Equity Release Plans Association), the industry body dedicated entirely to the promotion of safe home equity release (Reverse Mortgage) plans and the protection of plan-holders. .
Chase Adopts Loan Benefits to Help Expanding Families
Chase today introduced New Additions, a discounted home-equity loan program to help families pay the often steep expenses of adopting a child. "Adding a child to the family brings great joy, but the costs involved -- fees, travel, time missed at work and upgrading your home-can be sobering" said Brad Conner, President of Chase Home Equity. "So we created Chase New Additions, which will help homeowners tap their equity more easily and less expensively" Chase New Additions provides an introductory rate discount on home-equity lines for adoptive families. In addition, borrowers are served by dedicated lenders available online or by phone. "I applaud Chase for reducing the expenses for families who have so much on their minds" said Rita Soronen, Executive Director for the Dave Thomas Foundation for Adoption.
|
