Settling Your Home Mortgage When Selling Your House
Written by V. Cari on September 30, 2009
Tags: house valuations, mortgage settlement, quick house sale, repayment mortgage
Home owners with a mortgage should consider the financial implications of selling their home prematurely or at a lower price in order to secure a fast sale. A mortgage may extend over a 30 year period, depending on your financial institution, meaning that the first few years of mortgage repayments will make a very small dent on the capital amount borrowed.A premature sale may be impossible or actually leave your with little or no money in your hand thereby compromising your financial position.
Getting A Mortgage: Mortgage Types
Written by V. Cari on September 08, 2009
Tags: mortgage, mortgage types, repayment mortgage
Buying & Selling A Home
Finding the right type of mortgage and repayment method for you is crucial. This is an area where independent financial advice is essential.
Repayment Mortgage
Each repayment contains some capital and interest. In the early years, the monthly repayment is made up almost entirely of interest. There will be a gradual reduction in the amount of capital owing. This mortgage is guaranteed to be repaid in full so long as you make each repayment when it is due.
