Thursday, July 17, 2008

Still learning about home loans and so on.....

As I have mentioned previously, I am learning all that I can about mortgages in order to successfully complete some of the goals in my personal life plan. Right now I am looking at Low.com.

Get a home refinance quote. Up until today, I thought that refinancing one's mortgage was something dreadful. I have found out that there are actually good reasons to refinance....to take advantage of lower rates or to get better terms (the latter would likely be because your credit score has improved and you are a better risk). I am proud of myself...I am learning and remembering. :-)

Then there is cash-out refinancing. I do not understand this other than the obvious fact that one gets cash by re-financing...if you are reading this and understand, please help me understand.

I have also figured out, I think, that taking out a home equity loan basically means taking out a second mortgage. I am not sure when this could be a good thing to do...necessary, yes....but good?

Another thing that I found useful on here was a small section on how to pay off credit cards faster. I will definitely be trying this...even if it is only comfortable to do one card at a time. I have been advised to pay at least a dollar over minimum to improve credit...but I had never really been told a specific number that would comfortably make it so that cards can get paid off faster.

Low.com also tries to help consumers find cheap car insurance. There is a search box for automobile insurance quotes. As we all know,super-pedestrians excluded, vehicle insurance can be a payment that is absolutely dreaded.

Well...I learned a little more. It is easier for me if I actually look at some of the sites and services available....versus reading some droll text or insurance/real estate blog. I glean clues to how it all works at a comfortable pace. How did you learn about various insurances and loans? What still puzzles you?

http://www.low.com/

-----Home Purchase Loan Quotes
-----Home Owners Insurance Quotes
-----Debt Consolidation Loan Quotes
-----Life Insurance Quotes...this is longer than the other pages, so save some time to fill it out.
-----Health Insurance Quotes...another form that is a little longer. :-)

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