Franklinomics - Way to Wealth

Real estate investing is the classic wealth vehicle that has taken people from living hand to mouth to the pinnacle of wealth. It's the vehicle of choice because it's accessible to all of us.

With most mortgages, your payment is the same every month. But what if your paycheck isn’t so regular? Would you like to be able to vary your mortgage payment depending on your cash flow?

More and more lenders are offering home equity lines of credit. By using the equity in your home, you may qualify for a sizable amount of credit, available for use as you please, at an interest rate that is relatively low.

If you decide that the timing’s right for a home equity loan, ask your friends or family for recommendations of lenders. Then, comparison shop. Comparing loan plans will help you get a better deal.

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage price and terms may be negotiable. Shopping, comparing, and negotiating may save you thousands of dollars.

Whether you’re planning an addition for a growing family or simply getting new storm windows, finding a competent and reliable contractor is the first step to a successful and satisfying home improvement project.

Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways.

If you're refinancing your mortgage or applying for a home equity loan, learn about the Home Ownership and Equity Protection Act which addresses certain deceptive and unfair practices in home equity lending.

The Homeowners Protection Act of 1998 - which became effective in 1999 - establishes rules for automatic termination and borrower cancellation of PMI on home mortgages.