My previous entry mentioned how refinancing has become very common lately. A growing and alarming trend is car refinancing. Just like with their homes, consumers roll unsecured debt into their car. Banks have become very creative and some of them allow amortization periods of eight years! As a rule of thumbs, all debt except mortgage …
Tag: refinancing
Mortgage refinancing traps
With interest rates still at an all-time low, refinancing has become a common trend. A refinance is obtaining a new loan with better terms than the previous one. Refinancing is primarily to save on interests, and this is how people should approach it. A consolidation loan is a good example of refinancing. By combining all your …
