Thursday, February 28, 2008
Protect Your Homes
These last few weeks,I was really in need of cash...Expenses here and there made me worried too much,although my hubby assured me that I do not have to think about them because it must be him,not me,who is responsible for all the things.I thought I should have to borrow some money through credit cards or companies online.

Things are not that bad though...We now have a property,a house,and started to think of what would be the advantages of having it.

A very interesting news about the Homeowner Loans got my attention today.Well,we do not know what will come our way in the future,and people use their properties to borrow some cash,especially the business people.The news said that borrowers reaching the end of their fixed-rate period on their mortgages should evaluate their financial situation.

What does it really mean to us?

Homeowners should get a valuation on their properties even though it is rough and not so easy to do,to let them calculate the loan-to-value ratio.This means one can able to assess how much he will need to overpay on his mortgage to bring down his loan-to-value ration.Great,right?

The common reason why borrowers loss their properties is the ignorance about all this.They thought that there is no more easy way out and just let them go their homes that they had invested.

Again,let me repeat:Overpaying could stave off variable rate pain.And in fact,overpaying on a mortgage could only cost borrowers 41euro a month.