The Definition of the Second Mortgage

 The Definition of the Second Mortgage
        Hi Guys It's me Onesiphoro Writer and Researcher of Onesiphoro. blogger.com In this
blog I will explain to you what is the Definition of the Second Mortgage.

          Bank he re's the latest installment in our educational series on home equity borrowing today I'm going to talk about the term second mortgage it's a term that's relatively self-explanatory but it's
one that's often open to misinterpretation and it's one you're definitely gonna want to hear as you're applying for a home equity loan or line of credit so we want to take the opportunity to bring some clarity to that term today a lot of people think a mortgage is a loan that used to purchase your home by definition it's actually a bit broader than that it really is any a loan that is secured by property or real estate whether it's used to purchase a  home or not so because a home equity loan or line of credit is secured by your home that does, in fact, make it a mortgage in order to secure a loan with real estate a liner will place what's called a lien on a property and in the simplest definition alien is really a right to keep possession so to give an example of what that is exactly when you take out a loan to buy a home the bank really still maintains possession of the home you're living there you make the payments every month but if you stop.

                     making those payments the bank is saying hey I'm out of money here I still need to get paid and what they can do is is is foreclose on the home and sell it and the lien then says hey when we've sold this loan that guarantees we get paid pack the money we're still owed so the lender that is in the first lien the position is usually taking on the most risk it's the largest loan like loans to purchase homes typically are so they'll be in the first position any other loans secured by the property secured by the home they're gonna be put in what's called the second lien position meaning after the sale of the home after the first lien holder gets paid then they get paid with what's next so typically those types of loans are going to be home equity loans home equity line of credits and that's why you hear the terminology the second mortgage applied to them now. Does home equity you always have to be a second mortgage and the answer is no because if the homes owned free or clear in other words, there's nothing left on the loan that was used to purchase it or somebody used cash to buy the home there's no loan so the home equity line or loan would then be placed in the position, so you can't have home equity that is actually the first mortgage hopefully, this all makes sense That's it for today guys hopefully this give you the idea about the definition of the second mortgage. 

The Basic Policy of Mortgage

 The Basic Policy of Mortgage

               Hey, Guys, It's me Onesiphoro writer and researcher of Onesiphorus.blogger.com
in this blog, I will share with you what is the basic policy of mortgage. 

                      Mortgage basics what is a mortgage alone to finance the purchase of your home consist of five parts collateral your principal and interest payments taxes and insurance when you agree to a mortgage you enter into a legal contract promising to repay the loan plus interest and other costs your home are collateral for that loan if you fail to repay the debt the lender has the right to take back the property and sell it through a process called foreclosure the principle is the amount of money borrowed to buy a home you can put down a percentage of the home's purchase price
called a down payment to lower your loans principal amount lenders offer a wide range of down payment options so it's best to ask which one makes the most sense for you which one
makes the most sense for you. 

 

              Interest is what a lender charges to use the money you borrowed this amount is usually expressed as a percentage called the interest rate principal and interest make up the bulk of you monthly. payments in a process called amortization reduce your debt over a fixed period of time your the mortgage payment will also likely include taxes that are collected by the local community based on the percentage of the value of your home these taxes usually, go towards things like schools road and public services finally lenders will also require you to purchase home insurance to cover your home against losses from fire theft bad weather and other causes additional type of insurance may be required depending on the location of your home and the type of loan you choose. 
      They include flood insurance private mortgage insurance or PMI and mortgage insurance for loans backed by the Federal Housing Administration finally when choosing a mortgage you may have the option to use positive or negative mortgage points which can alter your interest rate and closing costs positive mortgage points are paid as an upfront fee at closing and can help lower your interest rate applying negative points to a mortgage increases your interest rate but may reduce closing costs now that you've got the fundamentals down. keep in mind that lenders offer a wide range of loan products so make sure to ask which product can work best for you. Thant's it I hope that you learn a lot from this topic please do comment below thanks and see you on my next blog.

Quickly Paying my Mortgage off.

 Quickly Paying my Mortgage off.

                      Hey guys it's me Onesiphoro writer of Onesiphoro blog.com. In this blog, I will share with you my experience of how I quickly paying my mortgage off. The thing to have a paid-for house, as a matter of fact, it is a great thing to have a paid-for house I've done detailed research in-depth research and we have discovered that 100 percent of foreclosures occur on homes with mortgages the borrower is a slave to the lender get your house paid off so any other money about our 14% going into retirement above saving for kids college any other money that comes to us we're dumping it on the home mortgage and knocking out the home mortgage as fast as possible can you imagine how wealthy.  you would become and how fast you would become wealthy if you had no home. mortgage oh I got to tell you It's awesome soon as you pay off your mortgage. take off your shoes walk through the backyard the grass feels different under your feet the daily balance on a typical mortgage stays high and stays the same for the entire month until you make your payment and a large chunk of your mortgage payment goes toward paying the interest on that loan and only a very small portion goes toward reducing the loan balance itself this then gives you new daily balance for the following the month that stays the same until you make your next monthly payment here's what happens to our $220,000 mortgage over the years after five years 10 years 15 years after 20 years we would have paid.

           more than what we borrowed and still owe. more than half of the original loan amount after 27 years the total payments on our loan will be over half a million dollars that's because along the way it will also cost us almost two hundred eighty-three thousand dollars in interest but the real cost
of this 270. Our mortgage for the average family is over seven hundred and thirty thousand dollars so if you have a thirty-year mortgage right now the real cost to you is almost three times what you borrowed another way to look at this is that you're really being forced to pay for three houses with your hard-earned money one for you and two for the bank.

        

                         Now what happens is right now all banks front-load that's exactly how the bank makes their money and if they tell you anything different the lion so what happens is when you let's say for example you took out a  mortgage and it was for a hundred thousand dollars a hundred thousand if you paid them exactly what as promised you will pay them three hundred thousand dollar money so, in other words, you give the bank two hundred thousand dollars of free money. That's it for today guys see you on my next blog. 

Best advice to Invest or Pay Off Mortgage Early

Best advice to Invest or Pay Off Mortgage Early
 

               

     

                Hey, Guys, It's me Onesiphoro In this blog I will give you the best advice on how to invest or pay off the mortgage without further ado let's get right into it. you how can I help so a little bit of a unique situation my wife and I am on the second home that we purchased from her parents and her dad so graciously allowed us to purchase it from him and he is our bank and it is a 0% interest a land contract that he is actually covering the taxes on so we're in a  great situation but my question for you today as we are looking at really starting to invest I'm trying to weigh what would be a better return on our money whether that would be to simply pay off our is your percentage interest mortgage as fast as we can or to do a little bit of both investing and while paying off our mortgage we suggest when you're debt-free everything but the mortgage that your next step is to have an emergency fund of three to six months of expenses, we call that baby step 3 do you have an emergency fund we do but I know that it's not as much as we should have okay the first thing before we talk about in this other stuff is it should be three to six months of household expenses in liquid cash that you don't touch for any reason this is  not a Hana saving up for Christmas or vacation or a house or anything else this is an emergency fund the government then once you've done that then we do baby steps four five and six at the same time but in that order of priority four is 15% of your household income going into retirement and that would be matching 401 k's Roth IRAs you know traditional whatever along those lines and you're filling up stuff in good mutual funds there and what's your household income is about seventy-five thousand dollars combined a year okay all right and so you know we're talking about 9k Dollar a year roughly is your is fifteen percent of your income everything above that then leaves us for bay step five which kids college you have any kids that you need to say for college we have one so  far we're in the first year of  building our families oh yes okay.

                 

                     I would start something it doesn't have to  be dramatic but I would start something towards the kid's college hundred dollars a month or something in a good mutual fund and that's going to be you know that's gonna be a blast and get that rolling and then everything else I'm  gonna throw towards the mortgage until it's paid off I do want to get this mortgage paid off as fast as possible regardless of the zero percent interest rate and here's the reason it's your largest payment and as a matter of fact, it's your only payment and all the data tells us from the ten thousand millionaires that we surveyed that one of the keys to becoming a millionaire is getting your home paid off and keeping it paid off okay and because it frees up cash now you are in more of a danger zone then you feel like you're in with this land contract land contracts are very  dangerous here's why anything that happens to your father-in-law or a mother-in-law who's named this property is in and they get sued for that could be a lien placed on the property that you feel like you own that you do not own if they are driving down the road and hit a patch of ice and they were driving reasonably and someone gets killed in the car wreck and Sue's them for 500 million dollars and wins that a lien is gonna be placed on the property that you thought you owned because it's  not in your name okay screw off if they  screw off and go run up a big IRS debt and there's an IRS lien placed on them it's going to be on that property that they own that you have a contract to buy the contract for deed is a dangerous ownership methodology point being you could pay a hundred thousand dollars down on this principle and 20 minutes before you pay it off a lien gets slapped on there and you don't end up with the property that you.

       

                     Just paid off even if he wanted to I mean it could be something that's out of his control I'm not suggesting I was a crook the worst-case scenario is he's a crook but I'm not suggesting that but I mean life happens here and you can really get in a mess so I strongly suggest that you guys get that property put into your name and  you convert this from a land contract toa mortgage on a mortgage or a deed of  trust depending on how your state functions with a lien on a piece of  property that you own so the deed transfers to you and you still owe him under the exact same terms the mortgages and if it costs a little bit of  paperwork money to get the lawyer to do you pay the bill and get it to put into your name before you start reducing this principle and it has nothing to do with questioning Papa's integrity life happens and it could be out of Papa's control and then you'd have a really bad situation and believe me in 13 years I've seen it a bunch and doing financial counseling that's why I'm so strong on it I have a land contract. That's it Hoping it helps you guys see you on my next blog.

Forex EURJPY 12/21/2020

 Forex EURJPY 12/21/2020

                 Hello Guys its me Onesiphoro, writer and content creator of Onesiphoro 
Blogger.com in this blog I will show you my trading strategy on Forex EURJPY
12/21/2020. Without further ado let's get right into it.

           In this chart which is the weekly chart you can see that the trend is in a short position
and there is a retracement close to the trend line which guarantees that it will go to
downtrend position.

In this chart which is the 1 HR chart, I can clearly see that it hit the resistance and
now it begins to reach out to the support. In my own perspective, the direction
of the trend is going to reach 119.630.

After 1hr look
at what happen
it already hit my
trading point
which gives me
profit. as you
can see it beginning
to return to the
resistance level.

        That's it for today I hope that you enjoy how I share my trading experience with you guys always remember that trading in forex or in stockmarket has risked so use the proper risk management and Don't forget to comment see on my next blog.

Forex CADJPY Trading Plan for Monday 12/19/2020

 Forex CADJPY Trading Plan for Monday 12/19/2020

                             Hello, again It's me Onesiphoro In this blog I will show you my strategy
for my trading plan for CADJPY for this coming Monday 12/19/2020. So without further
ado let's get right into it guys.

    Base on the trend line on Weekly Chart it was a cleary short trade, though I still need to
pay attention if their candlestick never goes long. Because there is still a possibility
that on Monday when the forex market is open there are times that the lastest opening
of the candlestick is going to another direction instead of continuous.

 

In this image which is the daily chart, the trend seems to be going short, and it inside the resistance and support. 

I can plan my next move with ease in that kind of formation but still,
I need to find a good momentum at the lower timeframe. 

Last but not the list the Chart where I get momentum which is the 1-hour chart.
 I can get a profit a day by trading to the 1-hour chart every day. That's it for
today I hope that you enjoy my strategy see ya! 

Forex EURCHF Trading Plan for Monday

 Forex EURCHF Trading Plan for Monday

          Hey Guys It's me Onesiphoro, the topic of this blog for today is the trading plan that
I'm going to use this coming Monday 12/21/2020 for the currency of EURCHF, so without
further ado lets get right into it. 

In the pic above you can see Weekly Chart and clearly know that it was going up but
who knows it might do the opposite, remember that forex is a game of possibility.
It's still inside my resistance so I assumed it was going short until it reaches the
support level.

In this Chart which is the Daily you can see that the last candlestick was short when it hits the resistance line that I draw, In this case, there is a big possibility that it was going to sort until it reaches the 1.07513 value position.

                  The Last but not the least Chart that I prefer to look into is the 1-hour chart which you can see and obviously there is really a higher chance that my prediction that it will be going to 1.07513 is higher.

Ok that's it, for now, I hope that you learn some of my strategies though it's not 100 percent guarantee so trade at your own risk guys Thanks.

Lazada December Voucher Code Collection

Lazada December Voucher Code Collection

                 Hey Guy's It's me Onesiphoro In this blog I will share with you some of the Discounted voucher codes that you can use to lazada from the category of "most Popular Item,

Lazada.com.ph Voucher Code: 10% Discount Storewide
valid until Feb 19, 2021".

 CITIFRIYAY

Lazada Discount Code: 5% Savings On Patagonia Foods PH
Valid until February 19, 2021

KEVINNICO

Lazada Sale Code: Grab P50 Less On Patagonia Foods PH
Valid until August 7, 2021

KENKOBEI50

Lazada 11.11 Sale Code: Receive A supplementary 600 php Less with Mastercard at the SM Store
Valid until December 31, 2020

MCSM600

Lazada Discount Code: 10% Savings On Dental Care
Valid until December 31, 2020

WHITEREP10

Lazada voucher: Extra 10% Off Voucher Citibank

Valid until December 31, 2020

CITIFRIYAY20

That't the rest for now If I found new voucher I just have to post it for another page guys, until next time God Willing. Thanks for visiting.

            

         

Forex CADJPY 12/17/2020

 Forex CADJPY 12/17/2020

                  Hi Guys it's me Onesiphoro In this blog I will share with you my trading
plan for the currency of CADJPY on FOREX day of 12/17/2020. without further ado,
let's get right into it. 

          As you can see right now the monthly chart of CADJPY is going long and it goes
beyond the trend, but I don't base my decision here since the trade plan that I'm
going to use is Daily. 

                                             

                      Ok, here's go nothing in spite of its looks uptrend I decided to do short
since the trend is going down. This chart is the 1-hour chart usually use.

                    After drawing the trend link it seems to me that I trade in the wrong direction
 but still, it's worth trying who knows I might be right, Keep in mind that Forex is a
 game of possibility so there's still a chance that I was right probably 50 percent.
Will that's it for today I hope that you like this blog, feel free to comment below thanks. 

Forex GBPCAD 12/15/2020

 Forex GBPCAD 12/15/2020

                          Hey Guys It's me Onesiphoro, In this blog, I will share with you my
experience of trading GBPCAD 12/15/2020. Ok as always I begin with the higher
time frame in order for me to determine the direction of the General trend.

                    The next time frame is the daily chart. This chart almost tell every story
of what  happening inside the current exchange rate of GBPCAD 12/15/2020. I
know its so messy because of a lot of trend lines but this is the way I trade, I hope
that you still clearly see the bar.

                   The candle stick suddenly goes down and break the support, In this case it going to be difficult to identify where the trends will go. Since I only doing day trade I will look only at the 1 hour chart to determine the flow of trend even it was just a retracement.

                                                                         I'm not certainly sure about the direction of the trend if it was going to be follow but it seems to me that the resistance is stoping it to go to long to make sure it follow the trend credit to the resistance. Will this is it for today hope you gain idea of how i trade this currency but just like a lot of traider said the traiding is a game of probability so make only the trade that you can afford to lose.

Forex NZDCAD 12/15/2020

 Forex NZDCAD  12/15/2020

               Hey Guys It's me Onesiphoro In this Blog I will show you and explain my
trading plan for NZDCAD 12/15/20. In my previous blog and just like what I always
explain as a trader we need to follow 1 formula which is effective in FOREX which
is we need to look first at the higher time frame in my case it's Monthly, for what
reason? to identify the trend direction of the market in this currency NZDCAD. 

           Base on my own perspective this trend is going short in the monthly chart
though I am not a swing trader and don't have a plan to use swing trade in this
area just in case you wanted to feel free to do so because there is a higher chance
that it was short but as you can see there seems to be a retracement going on in
between the support and resistance.

In  FOREX sometimes the trend is different in the different time frames but right now in NZDCAD 12/15/20 it seems to me all of the time frames are on the same side. In the picture above the image clearly tell where the trend is going to. 

As you can see I already draw the trend with support and resistance. 

           Ok finally and the 1-hour chart in which I usually make a decision to make a
position you can also look for a 30minutes chart for a proper momentum but
occasionally I usually chose to make a decision in this time frame.
see you on my next blog.

Forex NZDCAD 12/9/2020

 Forex NZDCAD 12/9/2020

                Hi, Guys Onesiphoro here in this blog I will show you how I trade on Forex NZDCAD 
on 12/9/2020 this day using Swing trade, I used a Monthly chart as a base of my signal as well. 

                                                                    I already put the shape mark of support and resistance as well as the trend line.                                      just like what I said a lot from my previous blog there is always a risk in every trade because                           trading is a game of possibility but the best thing about it is we got a higher possibility of                          winning as long as we know how to read the chart and the psychology of the people from the chart. 

                                                                                                              This is still the monthly chart but I decided to zoom in for you to see clearly                                       the trend and the support and resistance. This was also the first time I show my long trade                                 using a monthly chart though I must confess there is a big risk but it was worth trying every                                       once in a while most especially if you see the good formation of candlestick going in one                    direction using the trend.

     In this Chart, you will see some difference of Monthly to weekly, if you are a trader                                      that working and no much time to trade I suggest the higher time frame for you like                                       1 week or month, That's if for Today, Hoping that you learn a lot on this blog see you                                soon to my other blog God Willing., Thanks!.

EURJPY Forex 12-8-20

 EURJPY Forex 12-8-20

              Hi there Guys Onesiphoro here, In this blog, I will show you how I trade forex in this 12-8-20 which I find going to profit, without further ado let's get right into it. First I will look at the higher time frame to know where exactly the trend will go in the long run. 

                                                                                                                                      I usually look first at the Monthly too for swing trade because it helps me avoid hassle and stress because the higher the time frame the stable the candlestick. 

                            The next is Daily Chart, there is actually a weekly that you can look into as well but since I find it the same for Daily, as you can see the stop loss. There is a lot of advantage looking at the higher time frame just like what I mentioned earlier because it was more stable compare to shorter time frame like 15, 30 minutes and the best part about it if you find a good formation trend you can buy or short a position in months or weeks.

                             and the last one for this blog is the 4Hours chart, you can use this as well as an alternative to the 1 Hour chart because it was more stable but commonly I use 1hour to find the best momentum. The trade point and stop-loss are becoming more detailed the more the time frame is becoming less like from 1Hour chart to 30Minutes chart. I'm hoping that this info will help you guys on your trading journey. See you on my next blog.