Mortgage Pay Refinance Second
Public company news
ATS Medical (Nasdaq: ATSI): Reported a second-quarter net loss of $2.8 million, or 9 cents per share, compared to a net loss of $3.1 million, or 10 cents per share, for the same period last year. Revenue rose to $10.9 million from $9.3 million a year ago.
Alliant Techsystems (NYSE: ATK): Won a contract from General Electric to make components for the new GEnx jet engines in Boeing's 747-8 aircraft. The five-year contract is valued at "multiple tens of millions of dollars," said Alliant spokesman Bryce Hallowell. Said Wednesday it received a $90 million contract to provide rocket motors to Orbital Sciences Corp. for use in U.S. government launch platforms. Reported second-quarter net income of $38.9 million, or $1.09 per share, compared with $37.2 million, or 99 cents per share, in the year-ago period.
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5 ways to reduce home equity credit line
Lots of consumers have watched the rates double on their home equity lines of credit in two years.
Say you took out a credit line at the prime rate two years ago and borrowed $30,000 against it. Back then, you faced a monthly payment of $100. Now that same loan at the prime rate costs $206 per month.
That's even more dramatic than the rise in gasoline prices.
If you have a home equity line of credit, or HELOC, you have at least five options:
Keep the credit line and pay down the balance.
Keep the credit line and grin and bear the higher interest rate.
Pay off the line of credit with a fixed-rate home equity loan.
Get a hybrid credit line with a fixed-rate option.
Pay off the credit line by doing a cash-out refinance of the primary mortgage.