Bad Credit Loans

 

Why Second Mortgage Loans beat Home Equity Lines of Credit
by Richard Revis

Interest Rates, The Key Issue
Interest rate is always an issue to be taken into account. When in times of low interest rates, one tends to forget about it and concentrate on other benefits; however it should always be the center of our attention when considering the possibility of applying for a loan.

Certain recent events have proved that the above is true. Those who are stuck with a variable interest rate loan are now regretting their choice since in the past months, the interest rate charged has been escalating dramatically. And nothing seems to suggest that this trend is coming to an end in the near future. What more to say if you already have bad credit eh?

Those who have selected fixed interest rate loans are praising themselves for being so conservative and they deserve the praise. They are saving thousands of dollars in interests while at the same time having the confidence that their monthly payments will remain static for the whole life of the loan. 

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