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Mortgage Refinancing: What Is It And How Does It Work?

Savings Corner

Key takeaways Refinancing replaces your current mortgage with a new one, adjusting the rate, term or both. With refinancing, you can change the loan type as well as your lender. Here’s how refinancing a mortgage works, the common options available to you and pros and cons to consider. What is refinancing?

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HELOC Vs Home Equity Loan: How Do They Work?

Savings Corner

A home equity loan is a secured installment loan that allows you to borrow a set amount against your equity at a fixed interest rate and repayment term. A home equity line of credit (HELOC) is also secured. So, defaulting on the monthly loan payments means the lender could foreclose your home. HELOC: What is it?

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5 Sources for Quick Funding

Prairie Eco-Thrifter

Here are some situations that could warrant the need for quick funding: Debts Must Be Settled: For those that care about their credit score, paying off a debt means making sure that each monthly payment is made on time, and in full. Divorce or Lawsuit: From court fees to lawyer bills, the justice system is not cheap.