Real Estate Agent


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home equity credit lines

Home Equity Credit Lines Home Equity Credit Lines U sing a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways. You will find most loans come with variable interest rates, some come with attractive low introductory rates, and a few come with fixed rates. You also may find most loans have large one-time upfront fees, others have closing costs, and some have continuing costs, such as annual fees. You can find loans with large balloon payments at the end of the loan, and others with no balloons but with higher monthly payments. No one loan is right for every homeowner. The challenge, then, is to contact different lenders, compare options, and select the home equity credit line best tailored to your needs. Be sure to review the home equity contract carefully before you sign it. Do not hesitate to ask questions about the terms and conditions of your financing. To help you do this, you may want to consider the following questions and to use the checklist at the end of this brochure. (We apologize that the checklist is not available on-line. To obtain a copy of the checklist, please request a free copy of the brochure by contacting: Public Reference, Federal Trade Commission, Washington, D.C. 20580; (202) 326-2222. TDD call (202) 326-2502.) Is a home equity credit line for you? If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates. And they may provide you with certain tax advantages unavailable with other kinds of loans. (Check with your tax adviser for details.) At the same time, home equity lines of credit require you to use your home as collateral for the loan. This may put your home at risk if you are late or cannot make your monthly payments. Those loans with a large final (balloon) payment may lead you to borrow more money to pay off this debt, or they may put your home in jeopardy if you cannot qualify for refinancing. And, if you sell your home, most plans require you to pay off your credit line at that time. In addition, because home equity loans give you relatively easy access to cash, you might find you borrow money more freely. Remember too, there are other ways to borrow money from a lending institution. For example, you may want to explore second mortgage installment loans. Although these plans also place an additional mortgage on your home, second mortgage money usually is loaned in a lump sum, rather than in a series of advances made available by writing checks on an account. Also, second mortgages usually have fixed interest rates and fixed payment amounts. You also may want to explore borrowing from credit lines that do not use your home as collateral. These are available with your credit cards or with unsecured credit lines that let you write checks as you need the money. In addition, you may want to ask about loans for specific items, such as cars or tuition. How much money can you borrow on a home equity credit line? Depending on your creditworthiness (your income, credit rating, etc.) and the amount of your outstanding debt, home equity lenders may let you borrow up to 85% of the appraised value of your home minus the amount you still owe on your first mortgage. Ask the lender about the length of the home equity loan, whether there is a minimum withdrawal requirement when you open your account, and whether there are minimum or maximum withdrawal requirements after your account is opened. Inquire how you gain access to your credit line -- with checks, credit cards, or both. Also, find out if your home equity plan sets a fixed time -- a draw period -- when you can make withdrawals from your account. Once the draw period expires, you may be able to renew your credit line. If you cannot, you will not be permitted to borrow additional funds. Also, in some plans, you may have to pay your full outstanding balance. In others, you may be able to repay the balance over a fixed time. What is the interest rate on the home equity loan? Interest rates for loans differ, so it pays to check with several lenders for the lowest rate. Compare the annual percentage rate (APR), which indicates the cost of credit on a yearly basis. Be aware that the advertised APR for home equity credit lines is based on interest alone. For a true comparison of credit costs, compare other charges, such as points and closing costs, which will add to the cost of your home equity loan. This is especially important if you are comparing a home equity credit line with a traditional installment (or second) mortgage, where the APR includes the total credit costs for the loan. In addition, ask about the type of interest rates available for the home equity plan. Most home equity credit lines have variable interest rates. These variable rates may offer lower monthly payments at first, but during the rest of the repayment period the payments may change and may be higher. Fixed interest rates, if available, may be slightly higher initially than variable rates, but fixed rates offer stable monthly payments over the life of the credit line. If you are considering a variable rate, check and compare the terms. Check the periodic cap, which is the limit on interest rate changes at one time. Also, check the lifetime cap, which is the limit on interest rate changes throughout the loan term. Ask the lender which index is used and how much and how often it can change. An index (such as the prime rate) is used by lenders to determine how much to raise or lower interest rates. Also, check the margin, which is an amount added to the index that determines the interest you are charged. In addition, inquire whether you can convert your variable rate loan to a fixed rate at some future time. Sometimes, lenders offer a temporarily discounted interest rate -- a rate that is unusually low and lasts only for an introductory period, such as six months. During this time, your monthly payments are lower too. After the introductory period ends, however, your rate (and payments) increase to the true market level (the index plus the margin). So, ask if the rate you are offered is "discounted," and if so, find out how the rate will be determined at the end of the discount period and how much larger your payments could be at that time. What are the upfront closing costs? When you take out a home equity line of credit, you pay for many of the same expenses as when you financed your original mortgage. These include items such as an application fee, title search, appraisal, attorneys' fees, and points (a percentage of the amount you borrow). These expenses can add substantially to the cost of your loan, especially if you ultimately borrow little from your credit line. You may want to negotiate with lenders to see if they will pay for some of these expenses. What are the continuing costs? In addition to upfront closing costs, some lenders require you to pay continuing fees throughout the life of the loan. These may include an annual membership or participation fee, which is due whether or not you use the account, and/or a transaction fee, which is charged each time you borrow money. These fees add to the overall cost of the loan. What are the repayment terms during the loan? As you pay back the loan, your payments may change if your credit line has a variable interest rate, even if you do not borrow more money from your account. Find out how often and how much your payments can change. You also will want to know whether you are paying back both principal and interest, or interest only. Even if you are paying back some principal, ask whether your monthly payments will cover the full amount borrowed or whether you will owe an additional payment of principal at the end of the loan. In addition, you may want to ask about penalties for late payments and under what conditions the lender can consider you in default and demand immediate full payment. What are the repayment terms at the end of the loan? Ask whether you might owe a large payment at the end of your loan term. If so, and you are not sure you will be able to afford the balloon payment, you may want to renegotiate your repayment terms. When you take out the loan, ask about the conditions for renewal of the plan or for refinancing the unpaid balance. Consider asking the lender to agree ahead of time and in writing to refinance any end-of-loan balance or extend your repayment time, if necessary. What safeguards are built into the loan? One of the best protections you have is the Federal Truth in Lending Act, which requires lenders to inform you about the terms and costs of the plan at the time you are given an application. Lenders must disclose the APR and payment terms and must inform you of charges to open or use the account, such as an appraisal, a credit report, or attorneys' fees. Lenders also must tell you about any variable-rate feature and give you a brochure describing the general features of home equity plans. The Truth in Lending Act also protects you from changes in the terms of the account (other than a variable-rate feature) before the plan is opened. If you decide not to enter into the plan because of a change in terms, all fees you paid earlier must be returned to you. Because your home is at risk when you open a home equity credit account, you have three days to cancel the transaction, for any reason. To cancel, you must inform the lender in writing. Following that, your credit line must be cancelled and all fees you have paid must be returned. Once your home equity plan is opened, if you pay as agreed, the lender, in most cases, may not terminate your plan, accelerate payment of your outstanding balance, or change the terms of your account. The lender may halt credit advances on your account during any period in which interest rates exceed the maximum rate cap in your agreement, if your contract permits this practice. For More Information The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or to get free information on consumer issues , visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft and other fraud-related complaints into Consumer Sentinel , a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad. FEDERAL TRADE COMMISSION FOR THE CONSUMER 1-877-FTC-HELP www.ftc.gov June 1992



Denver Real Estate Denver

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Foreclosure property listings and

Bank Foreclosures Information at Business.com Advertiser Center · Help Web News People Jobs Search the Business Internet ® Bank Foreclosures Foreclosure property listings and information. Home > Real Estate & Construction > Property Listings > Foreclosure > Bank Owned Sponsored Links Better Than Foreclosures Buy houses pennies on the dollar without any mortgage payments. www.taxliensdirect.com Bank Repo Properties Details, Photos, Location Map and Contact Information, Updated Daily RealEstateForeclosures.net Bank Foreclosure Buy Foreclosures from price Search 600,000 listings for only $1 www.Bargain.com/Foreclosures Find Foreclosed Homes Search 400,000 Properties free. Join RealtyTrac and save big. www.RealtyTrac.com Free List Of Foreclosures Discover foreclosure homes for sale in your neighborhood. Free Service Free-List-of-Foreclosures.com Pre Foreclosure Listings Most up-to-date lists available Az, Ca, Fl, Mi, Nm, Nv, Wa www.defaultresearch.com Popular Searches bank foreclosure bank foreclosures bank homes bank owned bank owned forclosures bank owned foreclosures bank owned homes bank owned properties bank owned property « more more popular searches [x] Bank Owned Property Foreclosure bank-owned forclosures Bank-Owned Property Forclosure Featured Listings RealtyStore: Bank Foreclosures Save 20 - 50% on Foreclosure and HUD real estate. Ideal for investors, bargain hunters and first timers. Free trial membership (Credit Card required). www.realtystore.com Sponsored Links Bank Foreclosure Listings Find Current Bank and Government Foreclosures Nationwide Now. Free! www.BankHouses.com Stop Foreclosure Now 7 Programs That Stop Foreclosure. 20 Years Helping People Keep Homes. US-Loss-Mitigation-Advantage.com I'm Paying Cash For Homes Any Price, Condition, Or Location Sell Your Home Quickly & Easily www.webuyhomesaz.com Free Foreclosure Service No Money Down Homes Search Foreclosure Listings Free iForeclosures.com Bank Foreclosure Search 500,000 National Foreclosure Reos, Auctions & Trustee Sales Free www.bankhomesdirect.com Listings All Foreclosure Information Foreclosure information & database. all-foreclosure.com Bank of America Foreclosure Property Listings. www.bankofamerica.com Bates Foreclosure Report Subscription based service providing lists of real estate foreclosures. www.brucebates.com Fannie Mae-Owned Properties Single family homes available for sale. fanniemae.com Foreclose Foreclosure listings and resources. www.foreclose.com Foreclosure Databank Online foreclosure listings web site provides over 600,000 bank foreclosures listed in its database, making it a convenient marketplace for homeowners and real estate professionals. www.foreclosuredatabank.com Foreclosure Free Search Foreclosure listing service. foreclosurefreesearch.com ForeclosureNet.net: Listings for Bank Owned Foreclosures Offers bank foreclosure and government foreclosured property listings across the US. Includes homes, rental properties, retail, and commercial. Free Trial. Free Trial | Search Listings | Foreclosure Info. | Testimonials www.foreclosurenet.net Freddie Mac Home Steps Real Estate Searchable database of homes for sale-financing options. www.homesteps.com Green Point Financial Official website of Green Point Financial. www.greenpoint.com Intergrated Asset Services Providing nationwide valuation, management and marketing of Bank-owned real estate. www.iasreo.com Maryland HUD www.mdhud.com Pearson - Skaife Real Estate Professional Real Estate Services with John Skaife in Vacaville, California. pearson-skaife.com Premiere Asset Services Offers services to clients who seek professional servicing of REO's. www.premierereo.com RealtyStore: Bank Foreclosures Save 20 - 50% on Foreclosure and HUD real estate. Ideal for investors, bargain hunters and first timers. Free trial membership (Credit Card required). www.realtystore.com Sponsored Links Bank Foreclosure Listings Find Current Bank and Government Foreclosures Nationwide Now. Free! www.BankHouses.com Stop Foreclosure Now 7 Programs That Stop Foreclosure. 20 Years Helping People Keep Homes. US-Loss-Mitigation-Advantage.com I'm Paying Cash For Homes Any Price, Condition, Or Location Sell Your Home Quickly & Easily www.webuyhomesaz.com Free Foreclosure Service No Money Down Homes Search Foreclosure Listings Free iForeclosures.com Bank Foreclosure Search 500,000 National Foreclosure Reos, Auctions & Trustee Sales Free www.bankhomesdirect.com Search the Business Internet ® Advertiser Center | Account Login | About Us | Careers at Business.com | Featured Listings Privacy | Terms Of Use | 2000-2005 Business.com, Inc. All Rights Reserved



Colorado Real Estate Guide

Mountain Homes Illustrated Colorado Real Estate: Mountain Homes, Land, Ranches and Commercial Properties in Summit County, Park County, Grand County, Chaffee County and surrounding areas BROKER LOGIN | PUBLISHER LOGIN | ADD YOUR COMPANY! December 29, 2005 165 UsersOnline | 45562 LeadsToDate | © 2005 MHPI UP-TO-THE-MINUTE INFORMATION ... 42913 LISTINGS AND GROWING BY THE MINUTE ... CLICK "NEWEST LISTINGS" BELOW ... OR SEARCH BY FEATURE AT LEFT ... TODAY'S ACTIVE BROKERS ARE LISTED FIRST BELOW... FIND OTHER ADVERTISERS ALPHABETICALLY BY CLICKING ON FIRST LETTER OF COMPANY NAME ... BROKERS LOG IN AT UPPER LEFT ... NEW ACCOUNTS SELECT "JOIN" ... OR CALL 1-800-841-5185 ... THIS SITE POWERED BY XDEADLINE.COM SEARCH 5,447 COLORADO PROPERTIES You can now be automatically notified when a new property matches your search criteria NEWEST Listings in... KEYSTONE MORRISON Buena Vista Guffey Westcliffe Florissant FRISCO BRECKENRIDGE COPPER MOUNTAIN GRAND LAKE SALIDA WINTER PARK Canon City SILVERTHORNE KREMMLING Central City Condos and Townhomes Single Family Homes Lots and Acreages Homes on Acreage Log Homes Commercial Properties Mountain Living Farm and Ranch Properties Getaway Properties Resort Properties Furnished Properties Duplex-TriPlex-Multi Recreational Properties Corner Lot Affordable Bed & Breakfast Golf Course Properties Country Living NEW LISTING Fine Homes Horse Properties Motivated Seller Creekfront Properties Victorian Fixer Upper Gorgeous Views Executive Homes MAGAZINE TITLES • Roaring Fork Valley Real Estate Guide • Mountain Homes Illustrated • Evergreen Conifer Real Estate Guide • Colorado Mountain Real Estate Guides • Summit County Real Estate Guide • Chaffee County Real Estate Guide • Grand County Real Estate Guide • Park County Real Estate Guide • Steamboat Springs Real Estate Guide • Pagosa Area Real Estate Guide • San Luis Valley Real Estate Guide • Vail Valley Real Estate Guide • Custer County Real Estate Guide • Southern Colorado Real Estate Guide • Royal Gorge Real Estate Guide ADVERTISING INFO • Distribution Map • Ad Proofs • Ad Rates • Suggestion Box • Pay Bill Online MAIN MENU Home • Add Your Link • Links • USAHomes.org • Site Statistics • Legal Notice • Contact Us / FTP AD DEADLINES Mountain Homes Illustrated Ski Season V15N1 ADS DUE: Wednesday, January 4 Carbon County Real Estate Guide Spring 2006 Number 5 ADS DUE: Wednesday, February 8 Evergreen Conifer Real Estate Guide March/April Number 10 ADS DUE: Wednesday, February 15 Grand County Real Estate Guide Number 33 Spring ADS DUE: Wednesday, March 1 Mountain Homes Illustrated Memorial Day V15N2 ADS DUE: Wednesday, March 15 Chaffee County Real Estate Guide Spring NUMBER 15 ADS DUE: Wednesday, March 22 Chaffee County Real Estate Guide Spring / Summer NUMBER 15 ADS DUE: Wednesday, March 22 Evergreen Conifer Real Estate Guide May/June Number 11 ADS DUE: Wednesday, April 19 Carbon County Real Estate Guide Summer 2006 Number 6 ADS DUE: Wednesday, May 10 Mountain Homes Illustrated 4th of July V15N3 ADS DUE: Wednesday, May 31 Site Map COLORADO MOUNTAIN HOMES PUBLISHING INC CLICK HERE To See Our Other Magazine Titles Mountain Homes Illustrated (548) Evergreen Conifer Real Estate Guide (488) Grand County Real Estate Guide (107) Summit County Real Estate Guide (91) Chaffee County Real Estate Guide (62) Park County Real Estate Guide (34) Vail Valley Real Estate Guide (16) Southern Colorado Real Estate Guide (16) Royal Gorge Real Estate Guide (10) San Luis Valley Real Estate Guide (9) Custer County Real Estate Guide (9) Pagosa Area Real Estate Guide (7) Colorado Mountain Real Estate Guides (4) Steamboat Springs Real Estate Guide (2) Roaring Fork Valley Real Estate Guide (0) SEARCH PROPERTIES | | 100 NEWEST LISTINGS | | ADVERTISER LINKS | | CONTACT US [A] [B] [C] [D] [E] [F] [G] [H] [I] [J] [K] [L] [M] [N] [O] [P] [Q] [R] [S] [T] [U] [V] [W] [X] [Y] [Z] [1-9] Listings Updated December, 29 (Kremmling) (27 Properties) "Specializing in Grand & Summit Counties!" 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(Silverthorne) (24 Properties) "Serving Summit County and Neighboring Areas" (Salida) (120 Properties) "3 offices to serve you in Buena Vista, Salida and South Fork" (Gunnison) (29 Properties) (Divide) (12 Properties) (Westcliffe) (68 Properties) (Alma) (39 Properties) "KNOWLEDGEABLE AND PROFESSIONAL SERVICE" (Englewood) (Conifer) (8 Properties) (Buena Vista) (137 Properties) "OUTSTANDING AGENTS, OUTSTANDING RESULTS" (Grand Lake) (29 Properties) "A GRAND REAL ESTATE EXPERIENCE" (Evergreen) (36 Properties) "Excellence in Real Estate" (Divide) (8 Properties) "Serving Teller & Park Counties" (Buena Vista) (93 Properties) "We Specialize in Dream Properties" (Frisco) (29 Properties) "Enjoying Life in Summit County for over 20 Years" (Denver) (Breckenridge) (7 Properties) "Selling Great Views and Values in Summit County" (Winter Park) (9 Properties) "The Buyer's Agent of Winter Park and Grand County" (Woodland Park) (3 Properties) "Making your dreams a Reality!" Listings Updated December, 28 (Salida) (23 Properties) "Real Results For Real People" (Buena Vista) (25 Properties) (Alma) (31 Properties) "PROFESSIONAL AND EXPERIENCED IN PARK COUNTY REAL ESTATE" (Buena Vista) (Conifer) (4 Properties) "Working hard to make your transaction smooth!" (Breckenridge) (8 Properties) (Westcliffe) (8 Properties) "Homes, ranches, and vacant land." (Canon City) (37 Properties) "Come Live Your Mountain Dream!!" (Pine) (9 Properties) "EXPERIENCE, KNOWLEDGE, RESULTS!" (Breckenridge) (59 Properties) "Rock Solid in Summit County Real Estate" (Salida) (22 Properties) "MAKING REAL ESTATE REAL EASY!" (Frisco) (8 Properties) "Joanne Hanson's Mountain Living Team" (Alma) (32 Properties) "Cabins, Homes & Land in Park County" (Golden) (6 Properties) "Your Realtor For Life" (Salida) (111 Properties) "A HALLMARK IN REAL ESTATE" (Fairplay) (27 Properties) "In the Heart of the Rockies" (Grand Lake) (41 Properties) "Grand Lake's Newest Office!" (Lakewood) (3 Properties) "Sun-sational Transactions guaranteed!" (Buena Vista) (103 Properties) "Experience is our edge" Listings Updated December, 27 Listings Updated December, 26 TODAY'S FEATURED LISTINGS Westcliffe,CO BED & BREAKFAST IN THE MOUNTAINS Guffey,CO LARGE ACREAGE BORDERING NATIONAL FOREST ,CO OLD RANCH BLUE RIVER,CO 3 HUGE BEDROOMS W/ATTACHED BATHS Evergreen,CO EVERGREEN Guffey,CO WATCH THE ELK Westcliffe,CO UTE MESA HOME Westcliffe,CO COME ENJOY COUNTRY LIVING! Florissant,CO 65 ACRES WITH PANORAMIC VIEWS Guffey,CO NEARLY NEW HOME ON 6 ACRES XDEADLINE.COM LEGAL NOTICE UPDATED Dec 26, 2005 Our associated domains: () are a compilation of ads that have appeared in current or previous issues of our participating homes and real estate magazines, properties submitted by individual brokerages, and linkssubmitted by individual Web Site Owners. To report dead links, expired information, or to request removal of a link, please send email to the administrator: Craig Baker , and every effort will be made tocorrect the information, or remove the link. Our primary domain ( XDEADLINE.COM ) provides a list of participating magazines by independent publishers, and magazine titles by member publishers of The National Association of Real Estate Publishers (N.A.R.E.P.) . The information contained for each publisher or title is from the last information available to us. Unless specifically stated otherwise, we do not formally represent any independant publisher or magazine title linked to or mentioned on this website. All real estate advertised on this Internet Site is subject to the US Federal Fair Housing Act of 1968 and all amendments.and information is from sources deemed reliable. However, no warranty as to the accuracy of any ad or the suitability regarding any property advertised is offered. Neither the broker, the local magazine publisher, nor the internet publisher will be responsible for typographical errors, computer programming errors, or errors in fact that may appear on this website. Users are hereby advised to obtain independent property reports.




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