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If you have lived in your home for more than two years, it has probably appreciated which means that you have built up equity. What is home equity? Home equity is the difference between the value of your home and the amount of all that you owe on your home. If your home has an appraised value of $200,000 and all of the outstanding liens against it total $150,000 then your home equity equals $50,000. Often times when a home has accumulated value, the homeowner decides to take ...

Hybrid mortgages are becoming the ?“loan of choice?” for increasing numbers of borrowers, it was revealed in the 22nd Annual Adjustable-Rate Mortgage (ARM) Survey, conducted by Freddie Mac, a major buyer of existing home mortgages. A hybrid mortgage is basically an ARM loan but offers a fixed interest

Interest rates stay the same, but watch this space regarding rising mortgage payments.