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New Mexico Home Equity Loan: NM Mortgage Lending Made Simple Those seeking a New Mexico home equity loan neednt be intimidated -- can help you! We provide several home ...

Think twice before taking out a home equity loan

A home-equity loan is essentially a second mortgage. A HEL can also be a first mortgage if it is the only loan against the property. The “number” assigned to a mortgage (i.e., first, second, third, etc.) is determined by the order in which the mortgage document is recorded at the county recorder’s office. With a HEL you receive a lump sum of cash and pay it back in fixed monthly installments over a fixed term, just like a traditional mortgage loan. The most common length of the HEL is about 20 years.

Typically, a home-equity loan is best used for one-time goals for which payment will be due in full and which has long-lasting benefits. Funding a home improvement that adds value and more equity to your home is a good example. Another reason to tap the equity in your house might be to pay off high-interest loans or credit card balances. Doing so may not be such a good idea, however, if you turn right around and load up your credit cards again. Such folks are referred to by the credit industry as credit card abusers.

Digital mortgage company expands to five new states

The company  added 13 states  to its footprint in 2018, and already added four new states earlier this year .

Now, the company is making its services available in Montana, New Mexico, Rhode Island, Nebraska, and Wyoming.

That expansion brings Better to 36 states, representing approximately 80% of the U.S. mortgage volume.

The expansion comes on the heels of several big moves for Better. Earlier this year, the company  announced  that  American Express Ventures , the strategic investment group of  American Express , led its $70 million Series C funding round.

But American Express isn’t the only big name among Better’s backers. In February, Citigroup invested in Better, and Goldman Sachs was one of the company’s earlier backers .

And just a few weeks ago, Better announced that Ally Financial was also making in investment in the company as part of a deal that will see Ally and Better partner to launch Ally’s digital mortgage platform.

Selling my home for the remaining balance on my mortgage?

My home is falling apart and i don't have the income to fix it. How can i sell my home for just the payoff on the loan without any out of pocket expenses.

If your home is worth more, in disrepair, the easiest manner would be to sell it conventionally through a realtor who would price it below market to cover both your mortgage and their commission.

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