Welcome to Home Mortgage Guide
Wells Fargo Home Mortgage Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
The Money You Need: Home Equity Mortgage
from:A home equity mortgage allows borrowers to use their resources to gain access to quick cash. Using the equity in your home is a great financing tool if you approach it correctly. Consult with your lending institution to find out what your options are.
What is Equity?
You make monthly payments on your home loan. In most financing programs part of the payment goes to the interest and some of it goes to the principal. As the principal of the loan is lessened, equity is built. The more you pay on the loan, the more equity you have.
The equity is simply the difference between the original loan and how much you have paid on the loan. If you have paid off fifty percent of the principal in your mortgage then you have fifty percent equity. This can be a very valuable resource for funding.
Home Equity Mortgage Options
Home equity loan packages come in a number of different forms. Each lending institution has its own requirements and programs and some aspects of these loans can vary from state to state. Discussing your options with a professional can guide you in the right direction.
You can use the amount you have paid for your home so far in your loan as a way of acquiring more funds. Some people are attracted to a line of credit instead of a home equity mortgage loan in a lump sum. The line of credit offers many benefits.
If you tap into the credit line, you will only pay for the actual amount of money you use. This can keep some consumers from borrowing too much cash unnecessarily. You only use what you need when you need it. This type of funding is ideal for emergencies and unexpected expenses.
The home equity mortgage loan can be used to consolidate high interest debt. The homeowner will pay less interest on the new loan than on debts like credit cards and personal loans. Some homeowners simply keep the extra funds on hand in case of emergency.
There are many benefits to adopting this kind of financing. You may be able to deduct the interest you pay on the home equity mortgage since your house is used as collateral. Lower interest rates are also quite appealing, especially if the loan will pay off other debts.
No matter how the funds are used, it is important to weigh your options. It is also important to compare the costs of the venture as well. You may find that a home equity mortgage is perfect for your needs.
Wells Fargo Home Mortgage Specific links
Wells Fargo Home Mortgage News
Wells Fargo to hold mortgage assistance event in Dallas - Bizjournals.com (blog)
 World News Resource | Wells Fargo to hold mortgage assistance event in Dallas Bizjournals.com (blog) Wells Fargo & Co. (NYSE: WFC) will hold a free Home Preservation Workshop Thursday to offer assistance to Wells Fargo mortgage customers who might be having financial difficulties. The event will be from 9 am to 7 pm at the Hyatt Regency Dallas, ... Wells Fargo Execs Boast Of Stability, Less Risk Wells Fargo xecutives oast of stability Wells Fargo Executives Boast Of Stability, Less Risk |
Mortgage Rates Today: Wells Fargo, Citibank and KeyBank Refinance Rates for ... - Eastern Morning Herald
 Best Syndication | Mortgage Rates Today: Wells Fargo, Citibank and KeyBank Refinance Rates for ... Eastern Morning Herald Thus, mortgage rates in the United States will likely stay at record-lows or even fall later today. Current refinance rates at Wells Fargo (NYSE:WFC) are slightly higher compared to yesteday's rates. The 30-year fixed rate loan, for home refinancing, ... Current Mortgage Rates Today – Wells Fargo and SunTrust lower loan rates as ... Mortgage Rates: Low Mortgage Rates Spark Increase in New Home Sales Today's Mortgage Rates for 5/23/12 |
Fortress Seeks Servicing Rights From $4 Trillion Sale: Mortgages - BusinessWeek
Fortress Seeks Servicing Rights From $4 Trillion Sale: Mortgages BusinessWeek Nationstar, based in Lewisville, Texas, added $36.3 billion to its servicing portfolio in the first quarter from a year earlier, exceeding the $33.2 billion gain for market leader Wells Fargo & Co., according to trade publication Inside Mortgage ... |
Widow sues Wells Fargo over wrongful foreclosure that took devastating toll - The Guardian
 The Guardian | Widow sues Wells Fargo over wrongful foreclosure that took devastating toll The Guardian It began in May 2009, when Wachovia, now part of Wells Fargo, told the Rousseaus they had missed a mortgage payment on their home in Newbury Park, an hour outside Los Angeles. Even though the Rousseaus had made the payment – and had the receipt to ... Desperate man commits suicide before his home is foreclosed |
Kirby McInerney LLP Investigating Potential Class Action Claims Against Wells ... - MarketWatch (press release)
 Daily Mail | Kirby McInerney LLP Investigating Potential Class Action Claims Against Wells ... MarketWatch (press release) NEW YORK, May 9, 2012 (GlobeNewswire via COMTEX) -- The law firm of Kirby McInerney LLP announced today that it is investigating potential class action claims against Wells Fargo Home Mortgage in connection with a scheme to improperly inflate the cost ... Wells Fargo Reports 749806 Active Trial And Completed Modifications Through ... Wells Fargo discloses potential discrimination suit Wells Fargo Says DOJ May Seek Penalties Over Fair Lending |