Wednesday, June 27, 2012

Cash-out refinancing

Have you been wondering whether you should refinance your Los Angeles home? Now is a great time for refinancing because of historic low mortgage rates.
Cash-out refinancing is when you refinance your home for more than you presently owe on it. The difference between what you refinance at and what you owe is the amount you take as a cash payment. Cash-out refinancing may allow you to get a better interest rate on your loan, and get money to pay for schooling, making home improvements, paying off debts, or other expenses or investments. It may be more cost effective to use a Home Equity Line of Credit (called a HELOC), a traditional second trust deed, or refinance the primary trust deed. We can help you understand your option and make the best decision for your family.

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