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louisiana mortgage: Don't Want Your Mortgage? Get Rid Of It! - 08/22/07 10:54 AM
How to Reduce Your Mortgage
One Additional Mortgage Payment a Year
There's a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan's principal.
This is the method being used by "Bi-Weekly Mortgage Reduction Services" and "Bi-Weekly Mortgage Savings Programs". Only, when you do it yourself, you don't pay a third party unnecessary set-up costs and fees, and you pay it on YOUR schedule, when you have the funds available!
Example: $100,000 loan, 30-year mortgage, 6.5% fixed interest rate
One-time Payment
It may … (2 comments)

louisiana mortgage: Tired of paying PMI? ELIMINATE IT! - 07/30/07 08:30 PM
Eliminating Private Mortgage Insurance
For loans made after July 1999, lenders are required by federal law to automatically cancel Private Mortgage Insurance (PMI) when the loan balance falls below 78 percent of your purchase price - not when you achieve 22 percent equity, which will happen much more quickly with rising property values. (Certain "higher risk" loans are excluded.) But you have the right to cancel PMI (for loans made after July 1999) once your equity reaches 20 percent, regardless of the original purchase price.
Keep track of your principal payments.  Also keep track of what other homes are selling for in your … (1 comments)

 

Gareth Bourriague - Benchmark Mortgage

Baton Rouge, LA

More about me…

Benchmark Mortgage of Louisiana

Address: 8704 Jefferson Highway, Suite B, Baton Rouge, LA, 70809

Office Phone: (225) 927-5282

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