Zeus Gazette

Archive for March, 2016

How High LTV Can Keep You From Refinancing Your Mortgage

Categories: Marketing & Sales
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Mortgage Refinance in Utah

Mortgage Refinance in UtahAs interest rates in Utah are at record lows, many homeowners are keen to refinance their mortgage as soon as possible. This is generally a sound move, particularly if you have no plans to sell your house and change residences in the near future. With a much lower rate, you could save thousands of dollars over the lifetime of your new, refinanced loan.

But just because you want, you can get. A refinance is technically a new mortgage, which you must apply for first. Even if you have qualified for a home loan in the past, it doesn’t necessarily you can qualify this time around.

In many cases, mortgage refinance applicants are denied for different reasons. Of all culprits, a high loan-to-value ratio, or LTV, is the most notorious.

You are a Big Risk

If your LTV is well above what lenders consider acceptable, expect a lot of doors to close. This is because a high LTV means you lack enough equity on your property. The smaller ownership you have on your home, the lesser inclined you are to keep paying — at least in the eyes of lenders.

More often than not, having a high LTV (or worse, negative equity) could single-handedly lead to denial.

You Have to No Option but a High Interest Rate

If you’re lucky, some lenders would still agree to let you refinance your mortgage in Utah — for a steep price. Because you have less equity at stake in the deal, industry expert City Creek Mortgage explains that you’re subject to a higher rate.

This might defeat the purpose of your refinancing in the first place. Instead of saving you money down the road, the new mortgage might do little to lower your expenses, and only reset the clock with a fresh term.

You Might Have to Keep Your Current Loan

The magic number is 80%, so if the appraisal shows that you are yet to own 20% of your property, you might have to count more months of repayment to bank enough “ownership”. Until then, refinancing your mortgage would remain a dream beyond realizing.

Fortunately, there are financial products that allow you to refinance despite your equity problems. The key is to speak with an experienced broker to discover and access these mortgages.

Surprisingly Fantastic Spring Festivals Around the World

Categories: Arts & Entertainment
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Holi Festival Color Powder

Holi Festival Color PowderSpring will officially start soon. Flowers will start blooming again and the temperature will start getting warmer after a harsh cold winter. If you’re tired of the usual spring welcoming routines such as Easter bunnies, chocolate eggs, and a hefty load of four-leaf clovers, here are unique and fantastic ways of welcoming the season of blossoming, as celebrated in different countries around the world.

  1. Japan — The blooming of bright pink cherry blossoms, known in Japan as sakura, signals the start of spring in this oriental country. Japanese people gather under cherry blossom trees for a day of picnic, traditional music, and lively parties.
  2. India — Probably the most popular non-Western spring festival, the Holi is a Hindu festival that celebrates the end of the chilly winter season. People gather and party in the streets as they dance and jive in lively music while splashing cold water and colorful holi powder at everyone. Aside from welcoming the spring, the Holi is also a mythological celebration paying tribute and honor to Lord Vishnu.
  3. England – The British are known to be cheese lovers, and the country’s quirky spring race, popularly known as the Cooper’s Hill Cheese-Rolling and Wake, is a living testament to this. Race participants chase a round 9-lb double Gloucester cheese that is rolled from the top of the hill. Whoever catches the cheese ball or reaches the bottom of the hill first gets to take home the huge delight. Now that is one cheesy trophy!
  4. Thailand — Thai people welcome the spring season in a rather wet and wild way, with the Songkran Festival. People gather in the streets and engage in a “water battle royale”, arming themselves with anything that can hold water such as water guns, balloons, and containers. Prepare to get soaking wet and hyped up in this three-day celebration.
  5. Spain — The Las Fallas is Spain’s spring festival, where hundreds of gigantic paper mache puppets are displayed in the town plaza. This festive event is not complete without booming cannons, pompous firecrackers, lively music, fancy costumes, and all-you-can-eat mouth-watering paella. The highlight of the Las Fallas is the burning of the paper mache puppets in a massive bonfire, accompanied by a grandiose fireworks display.

Spring is an indication of a fresh and bright beginning after a long period of winter. Go ahead, start it with a twist, and welcome this beloved season with a big bang.