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Homeowner Loans Portland OR

This page provides relevant content and local businesses that can help with your search for information on Homeowner Loans. You will find informative articles about Homeowner Loans, including "What Can Manufactured Homeowner Loans Be Used For?". Below you will also find local businesses that may provide the products or services you are looking for. Please scroll down to find the local resources in Portland, OR that can help answer your questions about Homeowner Loans.

Bank Of The West
(503) 225-1616
401 Sw 5Th Ave
Portland, OR
 
Guarantee Mortgage Corporation
(503) 243-2674
111 Sw 5Th Ave Ste 2625
Portland, OR
 
Wells Fargo Bank Na
(503) 353-4858
5100 Sw Macadam Ave Fl 5
Portland, OR
 
Mortgage Trust Inc
(503) 282-5626
4386 Sw Macadam Ave Ste 401
Portland, OR
 
Comunity Lending Inc
(503) 595-2687
2828 Sw Naito Pkwy Ste 350
Portland, OR
 
Loansource Funding LLC
(503) 380-8412
506 Sw 6Th Street Suite 802
Portland, OR
 
Mortgage Only LLC
(503) 232-6659
1235 Se Morrison St Ste 1000
Portland, OR
 
Portland Developmnt Commission
(503) 823-3200
1900 Sw Fourth Avenue Ste 7000
Portland, OR
 
Morgan Financial Inc
(503) 295-1175
935 Nw 19Th Ave
Portland, OR
 
Pacific Northwest Mortgage Inc
(503) 224-4564
4640 Sw Macadam Ave Suite 260
Portland, OR
 

What Can Manufactured Homeowner Loans Be Used For?



What Can Manufactured Homeowner Loans Be Used For?
Sun 08/31/08 10:05:03 pm
by James Copper

Homeowner Loans, or Home Equity loans, are loans where the borrower promises the lender some type of collateral, usually a home. Homeowner loans are also called Secured Loans. Homeowner loans can be used for any variety of things. One common use of homeowner loans is purchasing a car. Some people may even take a vacation with the money borrowed from their homeowner loans. Another common use for homeowner loans is financing college education.

Many people use homeowner loans to pay off high interest credit cards and consolidate the debts into one manageable monthly payment. This tends to work especially well because homeowner loans are normally low in interest and spread out over a long period of time, making the monthly payments low, also. If a person is having trouble making payments on credit cards, homeowner loans may be a workable solution for helping to reorganize and remove the debt.

Probably one of the most popular uses for homeowner loans , however, is borrowing the money to do repairs and remodelling on the house that is owned by the borrower. Although it is always more advisable to save money rather than borrowing it, especially against ones house, home repairs are generally considered a good use of the money borrowed through homeowner loans. Investing finances into the improvement of ones home, unlike vehicles or vacations, causes the value of the home to increase. Even in the case of home improvements, however, one should proceed with homeowner loans very cautiously.

If there is any way to use savings to make the necessary improvements to ones home, that would probably be better than homeowner loans would be, simply because of the risk involved. Even the use of a low interest or no interest credit card might be a possible solution worth considering. Although spending ones savings is better than debt, certain types of loans are better than others. It is up to the borrower to decide if homeowner loans are the right choice at the time.

Homeowner loans can be used for any variety of needs or desires. However, there are some downfalls to the idea of homeowner loans. For one thing, homeowner loans tend to be very easy to secure. The reason that homeowner loans arent usually difficult to obtain is because using a house as collateral ensures the bank or lending institution that it will get the money back whether or not the borrower makes payment. When these homeowner loans are generally so easy to obtain, there is a tendency on the part of the homeowner to borrow more money than necessary, or overspend. Of course, homeowner loans that go into default will result in the foreclosure of ones house.

This is one way that the results of homeowner loans could be disastrous. The loans themselves are not a big problem, but the borrower must realize and work within his or her financial limits. A written budget andor meetings...

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