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ABOUT THE AUTHOR
PLEASE VISIT MY SITE
HTTP://INSURANCE.JIMDO.COM
Fatima graduated with a Bachelor's degree in Economics from ColumbiaUniversity and received a Masters in Economics from Singapore NationalUniversity. Fatima comes from a political background, her father Mir MurtazaBhutto - an elected member of Pakistan's parliament - was assassinated bystate police in 1996. His sister, Benazir Bhutto, was Prime Minister at thetime of his killing. Fatima is the author of two books, understanding thefinancial system published when she was 15 years old and basics of debtmanagement. Both were published by Oxford University Press.Fatima currently writes a weekly column for Pakistan's largest Urdudaily newspaper, Daily Jang, and its English sister paper, The NewsInternational. Recently She has completed her MBA in Finance from HarvardUniversity in 2006. Her diary from Tehran is the second the papersprinted; Fatima also wrote a weekly diary from Lebanon .
 
Which Is Better For Home Improvement -Refinancing Or A Second Mortgage?FATIMA BHUTTOFinding the money you need to makethose home improvements can lead tohaving to make some serious decisions. If you really want to make those homeimprovements, then you have basicallytwo choices - either refinance a firstmortgage, or get a second mortgage inorder to get access to some of thatequity.While either choice could give you accessto some cash for your project, only onechoice will actually be better for you -depending on your circumstances. Here iswhat you need to know to make thatdecision.
 
 You can get access to your cash byrefinancing your first mortgage. If youfind that you can get some better termsthan what you already have, then thismay be the way to go. Look for a lowerinterest rate that is about 1% or morelower than what you already have for agood deal.Mortgage Insurance?One thing that could help you decidewould be if you are paying PrivateMortgage Insurance, and now have morethan 20% of the house's value in equity.By refinancing, you could get access toyour equity with a cash out mortgage,and drop your PMI at the same time. Inorder to drop the PMI, though, be surethat you do not refinance for more than80% of the attained value of your home.
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jamesburns00

Obviously refinancing is good

reply05 / 19 / 2009
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