Bridge Mortgages maintains its online presence because we continuously provide excellent refinancing options for home equity loans, 2nd mortgage refinance and debt consolidation loans for good people with a little bad credit.
Freddie Mac reported cash-out figures in the third quarter of 2006 at the highest level in 16 years. Frank Nothaft, chief economist for Freddie Mac, notes that there are two things that lead homeowners to cash out equity – rising interest rates and increasing home values which create more wealth." We have a significant run up of home equity wealth… very strong appreciation of home equity…and homeowners are taking advantage of it," he said. Maybe now is a good time for you to investigate cashing out on your equity as well.
The main reason many loans are currently being refinanced is the rush of borrowers refinancing out of their adjustable rate mortgages and into fixed rate mortgages. While these borrowers are refinancing, many are getting larger loans, cashing out as a means of fixed rate consolidation. Cash outs are often used for home repairs, remodels and for debt consolidation. With refinance loans and mortgages used for consolidating revolving debt, these consumers are able to pay off credit card debt and lower their payments overall.
If you need to consolidate your debt consider working with a debt consolidation lender who has experience. This is a mortgage lender that offers secure loans for debt consolidation. A debt consolidation lender can help you find a loan or refinance a current loan that will ultimately be a means to save money. If you work with a lender experienced in loans specifically for consolidation, they will be able to better assist you in choosing a loan that will work well for you and your financial situation. Secured debt consolidation will equal a better interest rate than unsecured credit cards and lower payments. However, refinancing can be more difficult if you have less than perfect credit.
If you have credit difficulties but also need loan for cash out refinancing, find a home equity lender that works with non-prime credit. A bad credit 2nd mortgage is still a means of lowering monthly payments, especially if you have missed payments and your credit card rates have risen. Ultimately, a bad credit loan can help you get your credit back in shape and your finances back on track. Whatever your needs for refinancing, be sure to find a reputable mortgage lender that you can trust to help you investigate all your options.
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