The smartest way to save big on your mortgage

You Won't Lose as Much Money on Interest One of the best arguments for refinancing and obtaining a shorter-term loan is that you can snag a lower interest rate - which means you'll pay significantly less interest over the lifetime of your loan. And if you're wondering why shorter mortgages come with lower rates, Fannie Mae's guide, "Taking the mystery out of your mortgage", notes that lenders consider shorter-term mortgages to be less risky. So, just how big of a difference in rates are we talking about? For the original version including any supplementary images or video, visit

Ultrapetrol Announces Closing of Offering of $200 Million Aggregate Principal Amount of 8.875% First Preferred Ship Mortgage Notes Due 2021

The Notes and related guarantees are secured by the stock of certain of the Company's subsidiaries and by first preferred mortgages on vessels owned by certain of its subsidiaries. The Notes were issued at par and sold in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain other persons outside of the United States in reliance on Regulation S under the Securities Act. The Company received gross proceeds of $200 million from the offering. Ultrapetrol plans to use the net proceeds of the offering to redeem its existing $180 million aggregate principal amount of its senior notes due 2014, as well as for general corporate purposes. For the original version including any supplementary images or video, visit