Today, America has an estimated 10.9 million underwater homeowners, all of whom are desperate for a way to alleviate their financial burdens. With 30-year mortgage rates at 4.09 percent, the lowest rates in at least 50 years, it would seem like the perfect time to refinance. Yet, so many homeowners are sitting on property that  … Read more

Last week, the regulators for Fannie Mae and Freddie Mac announced a series of new actions to further the Obama administration’s mortgage refinancing program. Chief among these was a proposal that would force more borrowers to obtain private mortgage insurance. While most analysts consider this proposal reasonable, the issue under debate at present is who  … Read more

Today, every person you speak with, and every news article you read, will suggest that Americans are worried about their finances. In the current economy, as more and more Americans are facing unemployment, the depreciation of home values can be almost too much to bear. Yet, in all this tragedy, there is a silver lining.  … Read more

Refinancing a mortgage should be a fairly straightforward process. In this market, however, it has become increasingly difficult to pin down the real value of a home. Disagreements between borrowers and lenders over home value are a leading reason why refinances aren’t approved. Here are some ideas that will keep you everything above board for  … Read more

Today’s housing market is currently in a period of prolonged decline and foreclosures have hit all time highs. In many areas home value has stabilized, but failure to read the writing on the wall can be an expensive proposition, leaving you without a refinance and poorer than when you started. Get an appraisal before the  … Read more

The world of finance, high and low, is a sophisticated place. Understanding its nuances save the amateur financier thousands if not more. Many people choose to refinance their home in order to save money or pay down existing debts. Here are a few things to look out for when you refinance: 1.)   Lenders wary of  … Read more

It isn’t impossible to refinance a home; improbable is more like it. Upside down homes are a scourge to banks and to the national economy. In a regular mortgage modification like a refinance situation, the homeowner is expected to have 20% or more equity in his or her home. IN an underwater mortgage, it is  … Read more

You maybe haven’t heard of a cash-out refinance lately. Here’s why:  cash-out refinancing assumes that you are in an upside down mortgage. In fact, it only works if you have solid equity in your home and your home hasn’t lost much, if any value. The beauty of the cash out refinance A cash-out refinance allows  … Read more

The legwork associated with refinancing can cost you needlessly. If you aren’t scrupulous about the conditions of your refinance, banks and their financers won’t pursue a deal that is optimal for you. Many lenders simply want clients who will consistently make payments and ask few questions. Be clear about your new loan requirements What is  … Read more

Banks have been eager to help the masses with their refinancing needs. In some cases, banks are looking to avoid delinquency on the part of borrowers who took out subprime mortgages—most banks are back in the black, and happy to stay there. With many prime borrowers, banks stand to make a lot of money on  … Read more