Good Information Articles

125% Home Equity Loans Now Close Concurrently with a 100% First-Second Mortgage Refinance from BD Nationwide

San Diego, California (PRWEB) August 13, 2007 -- BD Nationwide Mortgage is proud to present the "125% Home Equity Refinance Loan Combination" for refinancing 1st and 2nd mortgages into a new 100% first mortgage with a with a 125% home equity loan that funds simultaneously. The latest home equity product from BD Nationwide helps homeowners refinance their adjustable rate mortgage to 100% loan-to-value and enables them to consolidate additional consumer debt like revolving credit cards and unsecured high rate loans with a 125% second mortgage.

On average, borrowers are saving $800 a month with 1st-2nd combo loans that were clearly created to convert adjustable rate mortgages into fixed rate no equity loans that maximize savings. Besides increasing the cash flow with lower monthly payments, this "125% Mortgage Refinance Combination" reduces the interest paid back when converting compounding interest from credit cards into fixed simple interest loans.

According to Scott Deal, an account executive with NovaStar Home Mortgage "The ability to offer high LTV first and second mortgages in this market is phenomenal." I see borrowers all day long that have adjustable rate mortgage payments rising but they can't refinance them because they have too much credit card debt to qualify for a new 1st mortgage. Deal continued, "But when you refinance the first loan and pay off the revolving debts at the same time that borrower qualifies because their debt to income ratios are reduced enough to be approved."

Refinancing adjustable rate mortgages relieves the stress level for many homeowners because the 125 combo loans fixes the interest rate for both loans. Is this loan for everyone? "of course not" says financial consultant, Glen Silver. "I would not recommend this loan to homeowners who are planning to relocate and sell their house in the next couple of years. These 1st-2nd combo loans weren't created for a debt free borrower who already has a fixed low rate 30 year mortgage."

Most conventional lenders are only offering refinance options from 80-95% combined loan to value. These 125% combo mortgages are ideal for debt ridden borrowers that are unable to refinance their bills and debts at 95%. This financing combination give homeowners with no equity a real opportunity to refinance their ARM that has recasted with a higher interest rate that increases their monthly mortgage payments significantly. According to Irwin Home Equity executive, Kevin Margulies, "Some times these 125% combo loans are the 1-2 punch homeowners need to stabilize their liabilities so they can regroup and focus on saving." BD Nationwide and other participating home equity lenders are releasing new home equity loan and refinance products with updated underwriting guidelines that address the market changes. Margulies continued, "with the recent subprime debacle terrorizing the housing and financing markets, its nice to be able to talk about some positive loan programs that continue to perform well with reduced payment defaults."

At this time, BD Nationwide also provides both stand alone fixed rate home equity loans and credit lines to 125% and concurrent 90-100% 1st mortgage and 125 second mortgage piggyback loans (http://www.bdnationwidemortgage.com/second-mortgage/125-concurrent-refinance.html). The secondary market has been pushing back sub-prime second mortgages, so consumers will begin to notice significant restrictions for bad credit equity financing. The 125 Mortgage Refinance combination is not for poor credit borrowers. These no equity loans require full income documentation and there are no "stated income" options. Credit score requirements for the most part start at 660 and 680 depending upon the residual income for qualifying borrowers. With this programs, borrowers can consolidate bills and get cash out up to $200,000. The maximum Debt to Income Ratio is 50%.

Joe Prussack who has been with BD Nationwide for the last five years, commented that refinancing second mortgage loans (http://www.bdnationwidemortgage.com/refinance-second-mortgage.html) with a fixed interest rate is another way for homeowners to eliminate the unfriendly Fed rate hikes that have become so common with home equity credit lines. According to Prussack, "The process for 125 combo loans is not as difficult as it appears." Having the opportunity to save a thousand dollars a month is a pretty nice reward for patient borrowers!."

BD Nationwide Mortgage suggests that homeowners educate themselves about their refinancing options to make sure that their home loans coincide with their goals and budgets. Start by getting yourself familiar with home equity and how their combined loan to value (c.l.t.v.) plays a driving force along with their credit scores in determining the interest rate and the size of the loan amount. BD Nationwide always recommends aligning yourself with loan officers who comprehensively understand 125% second mortgage loans (http://www.bdnationwidemortgage.com/125-second-mortgage.html).

About BD Nationwide Home Equity Loans (http://www.bdnationwidemortgage.com)

BD Nationwide is a mortgage broker who specializes in second mortgage loans for debt consolidation. The mortgage company offers many "outside of the box" home equity products with refinance loans and high LTV credit lines. The company continues to promote fixed rate consolidation for borrowers seeking to leverage their home equity. BD Nationwide Mortgage is committed to expanding home equity options so that more Americans can realize the capital rewards of being a homeowner in this United States of America. Consumers searching for current interest rates, should visit: Home Equity Loan Rates (http://www.bdnationwidemortgage.com/home-equity-loan/rates.html).

###

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

MORE ARTICLES:

Internet Based Business: How Single Parents Could Earn Extra Income For The Entire Family
Are you a single parent who has been trying to support your children on a single income? If you have been having so much trouble making both ends meet with your present income, you might want to earn some extra money by setting up an internet based business. A big family with children can be very expensive and you definitely will need to earn some extra money to keep everyone comfortable. Having some extra money could really do wonders for you and your small children so you better start exploring other means of getting extra money for your children through an internet based business.

Business & Family Safety and Health Rating
For good reason, practically every endeavor in life is rated. I've seen ratings on who or what's #1 in business, industry, NFL, NBA, MLB, person of the century, athlete of the century, technology, restaurants, university, neighborhoods, travel destination, best looking, best movie, best book, etc.

Internet Marketing Business - Your Home Based Internet Marketing Business and the Freedom Attached with it
There are various reasons why there are many individuals who want to start their own home-based Internet marketing business. Some are saying that the amount of money that they are earning from Internet marketing is higher compared to their monthly salary from their regular work. It even comes to a point that they are earning money similar to or more than the salary of their managers and department heads! This is relatively true, since there are Internet marketers who are earning as much as a hundred thousands of dollars within a month.

Sales of Children's Travel Bed Soar as Summer Travel Hits
Gentle Air has seen an increase in summer travel sales due to hotels at popular summer attractions charging high prices for rollaway beds and cots.

Internet Home Based Business : Legitimate Work at Home Jobs Opportunities and Advantages
There are many advantages involved in choosing an internet home based business as your primary or secondary source of income Use these benefits to find a legitimate work at home jobs that suits your needs and desires

Family Circus - Make Time For Family With An Internet Business
Sometimes, it seems like you don?t have a full 24 hours in a day. Between work, family, and sleep, there is no time for anything else. You never seem to have five minutes to relax, and on days when work requires overtime, you lose time with your family. In fact, it seems you never spend quality time with your children anymore. One way to get your life back under your control and manage time better is to start your own internet business. With an online business opportunity, you can decrease your work hours overall, as well as become more flexible and available for your family.

Work From Home - Online Resource Center for Home Based Online Jobs and Internet Based Business
Welcome to Work from Home?s ?an online guide and resource website to help you Start and grow your Home based Job and Business. Please note that we are only offering information on Work from Home Jobs and Business opportunities. We are not offering you a job or a business tie-up. Please read through the website as you will find valuable information and resources to start and grow your home based business. www.homebasedonlinejobs.com

Home Based Internet Marketing Business - Staying Organized In Your Home Office
When working from home there is nothing more frustrating than not being able to find things when you need them. While most home business entrepreneurs see themselves as never having any time, you have to spend some of your time to organize things. If you can't daily, you should at least try for once a week, you should set aside some time to put things where it should be. Allot of people have a saying that there is a spot for everything and everything must be in its assigned place.

Family Travel at its Finest - European Villa Rentals Perfect for the Whole Family
Parents can easily find family friendly villa rentals in Europe with Rentvillas.com.

Children's Home Society & Family Services Receives Reaccreditation to Once Again Facilitate Adoptions in Russia
Children's Home Society & Family Services, a Minnesota-based international adoption service provider, announced today it has been re-accredited by the Ministry of Education and Science of the Russian Federation to facilitate adoptions in that country.

Low-Income Families in Portland Will Soon Have Free Broadband Internet at Home
Cricket Will Provide Free High-Speed Wireless Internet to 100 Portland Families in Pilot Program with One Economy

The Best Internet Connection For A Top Home Internet Business
When it comes to working at your home business one of the most important things you will need is internet access Having a fast and relatively error free Internet connection is imperative for a person to be successful in working at home

Online Magazine is Home to the Best Travel Writing on the Internet
For the second year in a row, SoGoNow.com is the home to the best travel article written for the internet as judged by the North American Travel Journalist's Association.

Families Mourning Children Travel to Nashville for July Compassionate Friends National Conference
The Compassionate Friends self-help support organization for families going through the natural grieving process following the death of a child is hosting its 31st national conference July 18-20 in Nashville, Tennessee. More than 1300 parents, siblings, and grandparents, as well as professionals who provide support, are expected to attend the conference. Highlights include well-known speakers, more than 100 workshops covering most aspects of grief following the death, a pre-conference Professional Outreach Day, and the Walk to Remember Sunday July 20 at 8 a.m. This conference is annually the largest in the United States aimed specifically for those left behind following the death of a child.