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Property in California is valuable when seeking a mortgage refinance loan. The size of the economy in California is attractive to lenders funding mortgage refinance loans. As home to the core of the entertainment industry, and boasting prosperous agricultural, aerospace, petroleum, computer, and information technology industries, California ranks among the ten largest economies in the world.
In a state where there is a booming economy, a relatively younger demographic, and steady population growth, lenders foresee real estate in California becoming more and more valuable as the years go by. Because of this trend, they are willing to offer California residents low refinance rates on your mortgage in order to be chosen as the mortgage lender for your property. Why? The mortgage company technically owns your home until you pay the mortgage loan back, which on average takes 15-30 years. During that time, your home becomes a great asset as its value increases. It is a lender’s desire to have that asset (your home) as a part of their net worth, and not their competitor’s. In exchange for the opportunity to serve you, they will offer you the lowest interest rate they can on your mortgage loan.
Use their desire to your advantage. Since you live in California where real estate is very valuable, you should be paying low refinance rates. In just a few minutes, you can find out just how low the new refinance rates are. You may find that if you refinance your California mortgage, you can save a significant amount of money. The Wall Street Journal prime rate, the Federal Discount rate, the Fed Funds rate, and mortgage interest rates are all significantly lower today than they were a year ago. As a matter of fact, they are also all lower today than they were a few weeks ago. Take advantage of this trend now. Especially if you have property in California, you should take the time to make sure you are paying the lowest interest rate as possible. Why give your money away to a lender that is overcharging you interest, when you simply do not have to?
-Ken S.
Ken is the founder of www.LowRateSearch.com where you can find low rates on loans, credit cards, insurance, and travel deals too. Visit LowRateSearch.com now. Bad credit ok. We can help.
If you have good or fair credit, yet you have high credit card or unsecured personal loan balances and could use some serious debt relief, let me tell you about credit card debt relief and debt elimination programs that can give you more affordable monthly payments and have you debt free in less than 40 months.
Many of us have been using our credit cards a lot more or have obtained personal loans to survive as gas and food prices, along with the unemployment rate, have been high. Many of us are stuggling and although we manage to pay our bills on time (or close to “on time”), we still find ourselves deeper and deeper in debt because we can only afford to make minumum payments. There is help.
Debt elimination is a system used by debt specialists can reduce the amount you owe on your credit cards and personal loans, can reduce your monthly payments, and can create and “end date” at which time you can be debt free.
This credit card debt relief and debt elimination program is not a consolidation loan, home equity loan, mortgage refinance loan, or a new credit card offer to be used to consolidate debt. It is not a “rob-Peter-to-pay-Paul” type of situation. Debt specialists work with your existing credit card issuers and personal loan creditors on your behalf to get them to reduce your interest rate and monthly payment. They also create a program that will have your debts paid off so you can be debt free in 40 months or less.
Whether your goal is simply credit card debt relief, or total debt elimination, it would be to your advantage to talk to a specialist about what kind of debt elimination program is right for you. A quick conversation could start the cash flowing back into YOUR pockets.
-Ken S.
Doesn’t it seem like EVERYBODY has bad credit? Big businesses, small businesses, banks, super-famous celebrities, and regular every day people. Some of the largest financial organizations in the country are filing bankruptcy or asking the government for help. Merrill Lynch, Lehman Brothers, and AIG Insurance all needed loans or they were going to have to file bankruptcy. Wow!
But check this out… When big businesses have bad credit, they get bailed out by big banks, other big businesses, or the federal government. These businesses get approved for multi-million and billion dollar loans, they get the lowest interest rates possible to keep them from going under. They may have to pay the ’Fed funds rate’ or the ‘discount rate’. According to Bankrate.com, as of 10/22/08, the Fed funds rate was 1.5%, and the discount rate was 1.75%. These low interest rates give them the opportunity to structure affordable repayments, even though they have bad credit.
Now when consumers are offered loans, those with the BEST credit are approved for low interest rates. As of this post, consumers with excellent credit could qualify for a 15 year fixed rate home loan with the low loan rate of 5.59%. People with bad credit, however, could pay home loan rates of 9% or more.
Let’s do the math. If you have good credit, a 15 year mortgage of $100,000 with a 5.59% interest rate would carry a monthly payment of $821.87. If you have bad credit, that same $100,000 mortgage with a 9% interest rate would carry a payment of $1014.27. That’s an extra $192.40 per month you have to pay just because of your bad credit score. Over the course of the loan, you will have paid an extra $34,632 more than the guy with good credit.
Ok, stick with me now…. Big businesses with bad credit get low interest rate loans. Consumers with bad credit get high interest rate loans. What gives? ‘Big business’ is a reflection of the economy. Big businesses have bad credit. Consumers are a reflection of the economy. Consumers have bad credit. So if everybody has bad credit, why is it that big businesess get a break with these low loan rates and consumers are left to struggle to pay even more for their loans? If everyone has bad credit, why don’t banks make it easier for EVERYONE to repay their loans. Having to pay an extra $200 bucks a month could mean the difference between making your mortgage payment, and not being able to make your mortgage payment.
Well I tell you one thing, LowRateSearch.com will continue to be diligent in offering consumers lots of help finding low loan rates, whether you have excellent credit, good credit, okay credit or even bad credit. And if you have bad credit and want some help repairing it so you can qualify for low rates too, we will match you with a legitimate credit repair company and/or a professional debt negotiator to help you get take control and get your credit report back on track. The higher the credit score, the lower the interest rates you can qualify for. We are here to help you with your bad credit repair so you too can get the lowest rates.
Ken S.
© 2008
Ken S. is the founder of www.LowRateSearch.com and makes it the company’s mission to help people save money with low loan rates, affordable insurance, and travel deals too.
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