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Loans & Debt

Refinancing 101: Mortgage Refinance Basics

Refinancing 101: Mortgage Refinance Basics

A mortgage refinance is the replacement of an older mortgage with a new home loan that has different terms.  During the refinancing process, the existing mortgage is paid off by the opening of the new mortgage refinance loan, and the prior mortgage balance is carried over to the new loan. People refinance their mortgages for [...]

Consumer Loans: Consumer Debt Basics

Consumer Loans: Consumer Debt Basics

Consumer loans and debt result from the purchase of goods on credit that are consumable and that tend to decrease in value over time.  Using consumer debt and loans unwisely can ruin your credit and cause you to pay thousands of dollars in interest. Consumer debt may include all of the following: A credit card [...]

Mortgage Loan Basics

Mortgage Loan Basics

A mortgage is a loan that is used to finance the purchase of real property.  There are many different types of mortgage loans; however, fixed rate mortgages (interest rate remains constant or fixed over the life of the loan) and adjustable rate mortgage (interest rate fluctuates with overall market rates) are the most common. Most [...]

Debt Relief 101: How to Get Out of Debt

Debt Relief 101: How to Get Out of Debt

Americans have way too much debt; we do as a country and many of us do as individuals.  Debt has become a plague that won’t go away.  Many want debt relief but are in over their heads and have no idea how to get out of debt. Some people have a handful of credit cards [...]

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