Which one is better and less-risky: bridge loan or regular mortgage?


Posted March 6th, 2009 by admin 4 Comments »
bridge loan
surfergina asked:


My current house isn’t sold yet and I don’t want to lose my new dream home, which the payment is due by September. Should I apply for a bridge loan or just get a new mortgage for my new home? Which one is less risky? If I get a new mortgage and I just sold my current house, can I put the cash to pay some off? Can I re-finance the mortgage and make the payment lower after pay some off?

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Posted in Renting & Real Estate | 4 Comments »

How is the 401k loan interest compounded?


Posted January 28th, 2009 by admin No Comments »
401k
mishatim asked:


I want to understand if the 401k loan interest schedule is different from a mortgage interest schedule. For example, in a mortgage payment the interest is the most of it. Is it the same with 401k loan?
Reason for asking is to see if it makes financial sense to use 401k loan to pay off a mortgage on a property. Thanks!

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Posted in Personal Finance | No Comments »