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Yes. Once a home equity loan, always a home equity loan; but there are certain programs that give breaks in rate to previous home equity acquisitioners.

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Q: In Texas if you refinance your home once as a home equity loan are you forced to have all future refinances be home equity loans also?
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Will a lender refinance a mortgage on a home that is listed for sale?

I do not know of a lender that will allow you to refinance a home that is actively listed for sale. There are several lenders that will allow a rate and term ( "No Cash Out" ) refinance the day after a home is removed from the MLS. There are a couple of lenders I work with that will allow a Cash-Out refinance the day after the home is removed from the MLS. Other important considerations that need addressed are * Is the home a primary residence / second home? * Is the property an investment property? * What is your intention for the property in the future? I frequently refinance homes that have just been taken off the active market. Please feel free to contact me if you have specific questions and I will be happy to assist you. Just Click on "TheMortgageExpert" link above. Jeff


What are the features of a Lifetime mortgage?

A lifetime mortgage allows property owners with equity in their homes to borrow a certain percent of that property's value as a lump sum followed up by the option of flexible cash withdrawals, which in effect releases their equity at the time of the loan and in the future as well.


Why is it beneficial to save money for the future?

It is beneficial to save money for the future in order to avoid being forced to borrow money to pay for an unforeseen incident. By saving money in the future, you can save money by not having to pay interest on money borrowed.


What is deference between Equity cash and future in stock market?

Equity shares are the ones traded on exchanges like the New York stock exchange. Whereas, a futures contract is a contract between two parties, in which the parties agree to sell and buy a set quantity and quality of some asset at an agreed upon later date, for an agreed upon price.


How soon can you refinance a house after purchasing it?

You can refinance as soon as you would like to. Let's assume you are trying to refinance to lower your monthly payment. The variables you want to understand are 1) what is your current rate and payment?, 2) what would be the future rate and payment?, 3) what are the closing costs associated with the loan? and 4) how long will you plan on living there? Essentially, you are looking at a return on investment. The investment is the closing cost of the loan (points, fees, title search, etc.). The return on that investment will come to you in monthly installments in the form of a lower mortgage. What you want to do is understand what the reduction in your monthly payment will be. Then, get an understanding of your total closing costs. Divide your total closing costs by the net reduction in your monthly payment and this will tell you how many months it will take to breakeven on your refinance investment. Keep in mind, the above scenario is comparing "like kind" loans (30 yr. fixed vs. 30 yr. fixed).

Related questions

What is customer equity and How can a company increase its customer equity?

Value of potential future revenue generated by a company's customers in a lifetime. A company with high customer equity will be valued at a higher price than a company with a low customer equity.


How do you do a balance sheet. The only asset is an investment of 100000?

You need more information than that to create a balance sheet. There are three primary components of a Balance Sheet: Assets, Liabilities, and Stockholder's Equity. Assets are probable future economic benefits to the company. Liabilities are obligations by the company that will require the sacrifice of future benefits. Stockholder's Equity is the ownership interest in the company. Your total assets will always equal the sum of your Liabilities and Stockholder's Equity.


Is there a way to predict future changes in refinance rates?

Watching the market and keeping an eye on trends over the last 25-36 months can definitely help predict changes in refinance rate. You can also ask the bank or institution you are with if they plan on implementing changes. They are required by law to give you significant notice now.


Will a lender refinance a mortgage on a home that is listed for sale?

I do not know of a lender that will allow you to refinance a home that is actively listed for sale. There are several lenders that will allow a rate and term ( "No Cash Out" ) refinance the day after a home is removed from the MLS. There are a couple of lenders I work with that will allow a Cash-Out refinance the day after the home is removed from the MLS. Other important considerations that need addressed are * Is the home a primary residence / second home? * Is the property an investment property? * What is your intention for the property in the future? I frequently refinance homes that have just been taken off the active market. Please feel free to contact me if you have specific questions and I will be happy to assist you. Just Click on "TheMortgageExpert" link above. Jeff


Should forced marriages be illegal?

All humans should have the right to determine their own fate/future. As a forced marriage takes away the right of self determination, it should not be allowed.


What are the features of a Lifetime mortgage?

A lifetime mortgage allows property owners with equity in their homes to borrow a certain percent of that property's value as a lump sum followed up by the option of flexible cash withdrawals, which in effect releases their equity at the time of the loan and in the future as well.


Stockholders equity consists of?

The balance sheet quantity of a company's common stock equity. This quantity equals total assets less liabilities, preferred stock, and intangible assets such as goodwill. Stockholder's equity consists of contributed capital and retained earnings. The quantity of stockholder's equity indicates how much the company would have left over in assets if it were to go out of business immediately. As most companies are expected to grow and generate more profits in the future, they end up being worth far more in the marketplace than the value of their stockholders' equity. This is why stockholder's equity is more important to value investors than growth investors. Stockholder's equity is often called the book value of a company


When an employee is given the option to buy the company's equity is there any contract signed?

There is usually a document that list the terms, risks, and any limits to the future selling of the equity. Also, a company can be required to certify that the employee is a qualified investor and understands, or has consulted with someone who understand the offering.


Why cost of equity is higher than cost of debt?

The cost of equity is higher relative to the one of debt, because when selling equity you are effectively offering a share of your future performance. And this may amount to much more than the simple interest rate a creditor will charge you. Thus successful company ventures are often financed with debt (when available) so profits remain in the company.


When should you refinance?

From a homeowners point of view, you should refinance if it improves the rate that you are paying the lender to use the money. For fixed mortgages, this would be about a 2% drop in the rate. If you have an ARM and your credit situation is okay or has improved, definitely do it before the increase comes. Watch out for the fees charged to do a refinance so that you do not end up substantially increasing your principle in return for a rate that doesn't do much for you. There is also the matter of the loan starting all over again. I am not sure of the difference in the amount of your payment that goes to principle, but have noticed that it changes. Consider a 15 or 20 year loan instead. It has been popular to refinance in order to consolidate debt and to free up money from equity. This basically exchanges your future financial picture for issues in the present. It can leave you "upside down" as the housing values fluctuate and make a difference should you want to sell at the time when prices are low. While paying off present loans is worthwhile, it often delays the real changes that must be made to live within ones means.


Why is it beneficial to save money for the future?

It is beneficial to save money for the future in order to avoid being forced to borrow money to pay for an unforeseen incident. By saving money in the future, you can save money by not having to pay interest on money borrowed.


Are mortgage payoff calculators accurate?

Mortgage payoff calculators are accurate, however they are only accurate if your morgagte doesn't change in the future. For example, if you change your rate and refinance, a prior calculation might not be accurate.