Comments on: Second Mortgages Explained: What Is A Second Mortgage http://www.propertysold.ca/blog/2010/06/30/second-mortgages-explained-what-is-a-second-mortgage/ Real estate news in Canada including buy and sell information, local market updates, guides, tips for Canadians in the real estate market. Mon, 06 Feb 2012 19:46:02 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Haswell8 http://www.propertysold.ca/blog/2010/06/30/second-mortgages-explained-what-is-a-second-mortgage/#comment-434 Haswell8 Tue, 23 Nov 2010 01:40:04 +0000 http://www.propertysold.ca/blog/2010/06/30/second-mortgages-explained-what-is-a-second-mortgage/#comment-434 That is really a truly insightful and also specific writing. Though my estimation may differ from that of the writer, I know that this is certainly amazing webpage. I'll surely become a member of Feed for this incredible and also different blogging site.<br> That is really a truly insightful and also specific writing. Though my estimation may differ from that of the writer, I know that this is certainly amazing webpage. I'll surely become a member of Feed for this incredible and also different blogging site.

]]> By: A Niyazi http://www.propertysold.ca/blog/2010/06/30/second-mortgages-explained-what-is-a-second-mortgage/#comment-339 A Niyazi Sat, 11 Sep 2010 00:32:29 +0000 http://www.propertysold.ca/blog/2010/06/30/second-mortgages-explained-what-is-a-second-mortgage/#comment-339 I can't advise you to lock in your loan at 7.35%!!! Interest rates today for the lenders are much much lower, in fact a 5yr loan rate is closer to 1/2 what you are being offered. 3.34% is more like reasonable for a locked rate and 2.00% is now available for the unlocked or variable rate. That is less than 1/2 of what you are being offered. Please do not hesitate to contact me at your convenience to discuss your options, you could be saving a lot of money per month!<br>Abraham Niyazi<br>Mortgage Agent<br>Lic# M08010640<br><br><a href="http://Propertysold.ca" rel="nofollow">Propertysold.ca</a><br>Centum One Financial Group Inc.<br>Lic# 10758<br>Cell: 416-993-4082<br>Office: 1-866-RATE-708 x 115<br>Fax: 1-877-EASY-919<br>abraham.n@propertysold.ca<br>a.niyazi@easyrate.ca<br><a href="http://www.easyrate.ca" rel="nofollow">www.easyrate.ca</a><br><a href="http://www.centum.ca/abraham_niyazi" rel="nofollow">www.centum.ca/abraham_niyazi</a>/<br> I can't advise you to lock in your loan at 7.35%!!! Interest rates today for the lenders are much much lower, in fact a 5yr loan rate is closer to 1/2 what you are being offered. 3.34% is more like reasonable for a locked rate and 2.00% is now available for the unlocked or variable rate. That is less than 1/2 of what you are being offered. Please do not hesitate to contact me at your convenience to discuss your options, you could be saving a lot of money per month!
Abraham Niyazi
Mortgage Agent
Lic# M08010640

Propertysold.ca
Centum One Financial Group Inc.
Lic# 10758
Cell: 416-993-4082
Office: 1-866-RATE-708 x 115
Fax: 1-877-EASY-919
abraham.n@propertysold.ca
a.niyazi@easyrate.ca
http://www.easyrate.ca
http://www.centum.ca/abraham_niyazi/

]]> By: A Niyazi http://www.propertysold.ca/blog/2010/06/30/second-mortgages-explained-what-is-a-second-mortgage/#comment-340 A Niyazi Sat, 11 Sep 2010 00:18:56 +0000 http://www.propertysold.ca/blog/2010/06/30/second-mortgages-explained-what-is-a-second-mortgage/#comment-340 It sounds like your loan is with a lender that is not offering today's low rates. If your loan is unlocked that means that you have the ability to move it to a lender that provides better rates that what you have quoted above. For example Prime rate today is 2.75% and a couple of lenders are offering Prime - .75% right now = 2.00%!<br>Even fixed rates are much lower than you mentioned at 3.34%.<br><br>I would love to discuss your available options and save you quite a bit on your monthly payments as a result. Todays rates are 1/2 to 1/3 of what you have currently, that is a lot of savings per month! Please do not hesitate to contact me at your convenience.<br><br>Abraham Niyazi<br>Mortgage Agent<br>Lic# M08010640<br><br><a href="http://Easyrate.ca" rel="nofollow">Easyrate.ca</a><br>Centum One Financial Group Inc.<br>Lic# 10758<br>Cell: 416-993-4082<br>Office: 1-866-RATE-708 x 115<br>Fax: 1-877-EASY-919<br>a.niyazi@easyrate.ca<br><a href="http://www.easyrate.ca" rel="nofollow">www.easyrate.ca</a><br><a href="http://www.centum.ca/abraham_niyazi" rel="nofollow">www.centum.ca/abraham_niyazi</a>/<br> It sounds like your loan is with a lender that is not offering today's low rates. If your loan is unlocked that means that you have the ability to move it to a lender that provides better rates that what you have quoted above. For example Prime rate today is 2.75% and a couple of lenders are offering Prime – .75% right now = 2.00%!
Even fixed rates are much lower than you mentioned at 3.34%.

I would love to discuss your available options and save you quite a bit on your monthly payments as a result. Todays rates are 1/2 to 1/3 of what you have currently, that is a lot of savings per month! Please do not hesitate to contact me at your convenience.

Abraham Niyazi
Mortgage Agent
Lic# M08010640

Easyrate.ca
Centum One Financial Group Inc.
Lic# 10758
Cell: 416-993-4082
Office: 1-866-RATE-708 x 115
Fax: 1-877-EASY-919
a.niyazi@easyrate.ca
http://www.easyrate.ca
http://www.centum.ca/abraham_niyazi/

]]> By: Prime Minus Home Equity http://www.propertysold.ca/blog/2010/06/30/second-mortgages-explained-what-is-a-second-mortgage/#comment-337 Prime Minus Home Equity Fri, 10 Sep 2010 08:53:57 +0000 http://www.propertysold.ca/blog/2010/06/30/second-mortgages-explained-what-is-a-second-mortgage/#comment-337 s it safe to leave a home equity loan unlocked?<br>I have a home equity loan for $100,000 locked at 7.25%. I decided to unlock it for $200 and relock it a a lower rate, only to discover the new rate was 7.35%. If I leave it unlocked the current rate is 5.49% (prime minus 0.51%). I had short term money in the 1980's at 18-21% and cannot afford that now. Could this happen again? Is it safe to unlock this money and leave it unlocked? Or should I stay with the current locked rate? s it safe to leave a home equity loan unlocked?
I have a home equity loan for $100,000 locked at 7.25%. I decided to unlock it for $200 and relock it a a lower rate, only to discover the new rate was 7.35%. If I leave it unlocked the current rate is 5.49% (prime minus 0.51%). I had short term money in the 1980's at 18-21% and cannot afford that now. Could this happen again? Is it safe to unlock this money and leave it unlocked? Or should I stay with the current locked rate?

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