Is There Money Hiding In Your Mortgage?

Wednesday, March 1, 2006

In Your Mortgage? (NAPSA)—According to a recent study, many homeowners are not taking full advantage of the financial potential hidden in their mortgage. Fortunately, doinga little homework can change that. Here are sometips to help you discover your mortgage’s full potential from the experts at Countrywide Home Loans: * Increased home values may mean that your home equity has grown significantly. So the time maybe right to refinance andpull money out of your home equity in a lump sum to fund repairs, renovations or other expenditures. Turning to homeequity lines of credit for cash has been a smart choice for many. Unlike credit cards, the interest paid on these credit lines is often tax deductible. Plus, the monthly payments are also lower than with mostcredit cards. *Many homeowners are using the equity from a first home to purchase a second home or other investment property. This can be an excellent way to make the mostof a current investment to build assets andbolster a financial portfolio. For homeowners whoare at least 62 years old, a reverse mort- gage can be a way to access equity in a homeand obtain funds that can be used as theyseefit. For more information about these and other smart mortgage managementtips, call (800) 5709888 or visit www.country wide.com.