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A recent survey confirmed that over 90% regarding Americans who own a property consider their equity inside their primary residence as the main financial asset. This countrywide survey released last calendar month, revealed that quite a couple of homeowners forget to use their property as a "useful economic management tool. " This means that a gap in many People in america in how they understand the skills of utilizing a secure asset being a home. The study also indicates that numerous people may not comprehend the capabilities and best usage of a refinancing or obtaining a home equity loan being a second mortgage. The survey cited any retiring couple and asked them if it will be wise to use a second mortgage or refinance loan to consolidate personal credit card debt. However, depending on their upcoming plans and expected financial predicament, there may be different mortgage solutions that, in reality, help them manage and also achieve their changing economic goals. The ho
me fairness study was conducted inside October, 2006, by Harris Interactive(R) from the request of Countrywide Mortgages, Inc. While many property owners micro-manage their investments, the majority are not using their home mortgages being a practical financial tool. Many Americans believe they are fixed to their authentic loan and miscalculate their power to refinance their existing mortgage aside from add a new residence equity loan for lowering debt or financing residence improvements. The survey indicates that a number of these Americans may consider their particular mortgage as lifelong credit card debt, rather than a economic tool. Dan Hanson, managing director of Countrywide Mortgages stated that, "There's a prevalent misperception about mortgages which could prevent many Americans coming from realizing their home's total financial potential. "There can be some homeowners who will not consider their home's security being a financing tool for obtaining home equity loan
s and lines of credit. The study concluded that "6 away from 10 homeowners would consider tapping equity being a source of funds and 70% of the say they would utilize the money for home advancements. " "There is an expression that many people are pulling cash away from their homes to fund luxury items, but our survey found the contrary to be true, inches said Hanson. "In reality, most Americans are quite conservative , nor want to be greatly leveraged. While that can be a positive trait, it also showed us that there are still room to educate homeowners about approaches to make their home's financing work with their greatest advantage. "
View this post on my blog: http://www.mortgageloanus.org/a-recent-survey-confirmed-that-over-90-regarding-americans-who-2/
me fairness study was conducted inside October, 2006, by Harris Interactive(R) from the request of Countrywide Mortgages, Inc. While many property owners micro-manage their investments, the majority are not using their home mortgages being a practical financial tool. Many Americans believe they are fixed to their authentic loan and miscalculate their power to refinance their existing mortgage aside from add a new residence equity loan for lowering debt or financing residence improvements. The survey indicates that a number of these Americans may consider their particular mortgage as lifelong credit card debt, rather than a economic tool. Dan Hanson, managing director of Countrywide Mortgages stated that, "There's a prevalent misperception about mortgages which could prevent many Americans coming from realizing their home's total financial potential. "There can be some homeowners who will not consider their home's security being a financing tool for obtaining home equity loan
s and lines of credit. The study concluded that "6 away from 10 homeowners would consider tapping equity being a source of funds and 70% of the say they would utilize the money for home advancements. " "There is an expression that many people are pulling cash away from their homes to fund luxury items, but our survey found the contrary to be true, inches said Hanson. "In reality, most Americans are quite conservative , nor want to be greatly leveraged. While that can be a positive trait, it also showed us that there are still room to educate homeowners about approaches to make their home's financing work with their greatest advantage. "
View this post on my blog: http://www.mortgageloanus.org/a-recent-survey-confirmed-that-over-90-regarding-americans-who-2/
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