Refinancing Your Mortgage to Pay Off Your Credit Cards

How to Use the Extra Cash You Save from Refinancing Your Mortgage to Pay Off Your Credit Cards

Mortgage industry experts estimate that over one trillion dollars worth of adjustable mortgages will reset by the end of 2007. Almost half of these will be refinanced into new loans, including fixed mortgages, according to a news report in the Detroit Free Press.
With the cost of a 30-year fixed mortgage averaging 6.37% APR, slightly down .27% from a year ago, many homeowners will be looking to convert their existing three- or five-year teaser rate adjustables into a lower-priced, more predictable fixed-rate mortgage.

Re-financing your adjustable to a 30-year fixed rate can translate into an additional savings of $200 or more a month on a $250,000 mortgage loan payment. This is extra money that can be used to pay-down an existing higher-priced credit card (currently averaging of 12.15% APR nationally.) Read more

Home Remodeling Tips

Home Remodeling Tips Make Every Day Feel Like Earth Day

While homeowners continue to invest their money in improvements to increase the resale value of their existing homes, many are turning toward “green materials” to make their living space more eco-friendly, according to a leading Minneapolis design firm. With dwindling resources and global warming on everyone’s minds, homeowners are looking at ways to incorporate earth-friendly products into their existing surroundings. Read more