If you're in the market for a Portland refinance, there are many reverse mosrtgage portland who will offer you a home refinance package where you take out a loan for more than the balance remaining on your old home loan. In the mortgage industry this is called "cashing out". Mortgage interest rates have continued to drop in the past year and that can let you refinance your home without increasing your monthly payments even though your new loan would be more than the old one. You've worked hard for years to buy a home, keep up your monthly mortgage payments and maintain your home in good condition - why not let your home work for you now? Why not let the equity that you have built up over the years go to work for you by paying off your debts and enjoying life a little more?
The extra money that comes from a reverse mortgages portlandbe used for many purposes; one of the smartest things you can do with this money is to pay off any loans with higher interest rates. Have you looked at how much interest you are paying each month on your credit card bills? It's outrageous! If you can, use this money to get rid of that debt forever!
If you are in a reverse mortgage lender portlanddebt you may be interested in using the money for a more enjoyable purpose, such as building on an addition to your home, buying a big screen TV or taking that long-awaited vacation. However you decide to spend the money, your mortgage broker will be able to help you through the process.
A reverse mortgage lenders portland for many homeowners in the Portland area because refinancing has resulted in valuable savings for them.
Now is also a good time to refinance for a second time. The timing is important because when interest rates are falling fast you can reduce your monthly payments even further. Your mortgage broker or accountant can also help you understand the positive tax benefits associated with a second refinance. Don't think that you can't or shouldn't refinance again because you've already done it once before. If it makes financial sense, then do it.
You'll be taking control of your financial future by refinancing today and getting cash to pay off your high-interest debts, or consolidating all of your debts into one low monthly payment. Just being able to pay off or consolidate your debt will lift a burden from you, and simplify your life. In most cases, paying off high-interest debt helps improve your credit score because all of the debt that you pay off with this loan will show up on your credit report as PAID IN FULL!
What is the best way to lower a monthly mortgage payment? For many people the answer is a Portland refinance. Lenders have different loan refinance options that will help you obtain a lower monthly mortgage payment, and could save you hundreds of dollars a month.
Portland Refinance - How to Let Your Home Work For You Now