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Independent
Mortgage Advice
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Make sure your monthly
payments are on time.
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125 percent or higher LTV
loans should be a last resort.
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If you have a history of
credit card problems, use checks to
access you line of credit instead. It
may be enough to rein in your spending
impulses.
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Keep your home equity
credit cards and checks at home.
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Keep some of your equity
handy for emergencies.
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Maintain good credit even
when you already have loan approval.
Lenders may cancel or freeze your loan
if they become alarmed.
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Always read the fine
print of the loan before signing.
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Check with local
government agencies to see if your
lender has a good reputation.
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Ask yourself if you can
afford to take on more
debt, and if so,
how much?
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Investigate other
sources, such as disability,
unemployment, savings, borrowing against
a 401(k), stocks, insurance policy or
retirement plan, that do not put your
house on the line.
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Make sure the purchase
you make with your loan is worth it.
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Don't use your line of
credit for day to day expenses.
Mortgage Glossary3
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