Tag Archives: Finance

Refinancing Your Home

Posted on 13 Oct 2009 | Comments Off on Refinancing Your Home

Even though refinancing a housing loan can save you thousands of dollars you will be astounded that not that many individuals actually take the time to do it. If you considered the time it takes and figure out the cost saving benefits and equate that to how much you get paid per hour it could be like not going to work for several weeks. Consider the following aspects so that you can see how easy it is to refinance your mortgage today.

Current Mortgage Interest Rate

It is definitely a positive indication for you to explore refinancing when your current interest rate is higher than available loan packages on the market. A first step to take is to go back to your current bank or financial institution and ask them to revise your package, otherwise known as repricing. If your lender comes back with an offer, it will normally be better than your existing one. You can then compare this offer with offers from other lenders to see whether you should switch or stay put. Continue reading →

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You can run, but you can’t hide

Posted on 11 Oct 2009 | Comments Off on You can run, but you can’t hide

Bad credit history will catch up with you, making it difficult to get mortgages or loans

Many people do not understand the importance of maintaining a good credit history. Did you know, for instance, that if your credit history is less than satisfactory it may be tough to get a mortgage or a personal loan?

Notching up a poor credit history is not that hard to do but the good news is that those who blot their copybook can make amends over time to help remove the stain.

‘Frequent late payments and taking long periods of time to repay outstanding amounts can contribute to a poor credit history, which may lead to unsuccessful loan applications,’ said Ms Helen Neo, head of consumer banking, Maybank Singapore.

It is not surprising that your credit history is a key factor lenders look at when deciding whether to extend a loan. Others include salary, job and other financial details.

So if our own credit history is so potentially crucial, we certainly ought to be familiar with this vital statistic that is checked by lenders to determine our financial health. Continue reading →

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Posted in General, Loan / Mortgage / Finance

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