The number of mortgage loans for purchasing these days are going down, just the same as real estate transactions are. However, this is also an excellent time for refinancing, and people are using their equities.

HELOC's are allowing you to leave your existing low rate 1st mortgage alone. With no-cost Heloc programs, no-cost...(no doc stamps or intangible taxes, no title, no appraisal and no recording fees, on owner-occupied or vacation homes only), and even if you have just purchased your property, or refinanced it, you may have a line of credit, just like a credit card, that you can pull money from, for any special occassion like invest in another property, or home improvements, college fund, building a pool, buying a boat, or just a cash-out.

One major advantage is that the Heloc is Tax deductible, while credit cards are not.

There are some aggressive Heloc products, as rate under prime, or 7 years Interest Only fixed rate, and no pre-payment-penalty. Anyone in Florida that is in a need for cash out, or need to finance anything he has in mind, please contact, email me with your questions, and it will be my pleasure to be of an assistance.

Thank you, Eli Magen,   www.absolutefloridamortgage.com