Selling Or Refinancing?

Exclusive Summary About Home Selling or Refinancing By Luigi Frascati

Other banks are offering enticements to keep customers who are worried about rising rates from paying off their home-equity lines of credit.

These banks seem to target those borrowers who previously paid off their home-equity lines or seemed likely to. The value of home-equity lines of credit at commercial banks increased 17 percent in September over the previous year, according to the Federal Reserve. Home-equity loans provide borrowers with a lump sum and a fixed rate.

But rising interest rates have made home-equity lines of credit less attractive than they were as recently as the summer of 2004, when the prime rate was just 4 percent. What's more, the rate difference between a home-equity line of credit and a fixed-rate loan has narrowed, because short-term market rates have risen faster than long-term rates.

Fixed-rate home-equity loans typically make more sense for borrowers who have a one-time need for cash, such as paying off credit-card debt or consolidating existing auto loans.

Thinking of Selling?

Exclusive Summary About Home Selling By Susy Copus

Selling property, buying property, it's all been a bit of a mess. Right now there is a shortage of property for sale as potential buyers stay clear of the low priced market yet buyers are out there as they want to make use of the low prices.

If you want to wait until prices go up remember that prices could remain low for some years or worse, could fall further. Even if you are just beginning to think of selling it's worth calling estate agents and have your property valued. Estate agents want to market your property. In the current climate it may pay to improve your house rather than sell. Moving house is very stressful and most people want to avoid it, even when the property market is good. Buying and selling property has been a quick money making fashion in the past, pre-credit-crunch.