Refinance

Everything you’ve ever wanted to know about refinancing a mortgage.

Does a Refinance Require an Appraisal?

Does a Refinance Require an Appraisal?
February 27, 2013 7 Comments »

Mortgage Q&A: “Does a refinance require an appraisal?” A reader recently asked if they needed an appraisal in order to refinance their existing loan. As with anything in the mortgage realm, it depends. Mainly, it depends on the type of ... Read More »

Obama Urges Passage of New Refinance Bill

Obama Urges Passage of New Refinance Bill
February 13, 2013 3 Comments »

If you happened to catch last night’s State of the Union speech, you may have noticed (between the incessant clapping) President Obama’s mention of a bill that would give American homeowners the chance to save $3,000 annually by refinancing their ... Read More »

Mortgage Origination Volume Up 34 Percent in 2012

Mortgage Origination Volume Up 34 Percent in 2012
January 31, 2013 No Comments »

What a difference a year makes. As I reported back in September, 2011 was the worst year in mortgage lending since 1995. Just 365 days later, we experienced the best year since 2007, according to data from Lender Processing Services, ... Read More »

HARP May Be Expanded and Extended to Promote Mortgage Refinancing

HARP May Be Expanded and Extended to Promote Mortgage Refinancing
January 30, 2013 No Comments »

There’s been a lot of buzz about the Home Affordable Refinance Program lately. While it has picked up steam in recent months, thanks to the removal of the LTV barrier, it’s still not reaching millions of underwater homeowners in need ... Read More »

Making the Argument for an Adjustable-Rate Mortgage

Making the Argument for an Adjustable-Rate Mortgage
January 16, 2013 No Comments »

It’s no secret that fixed-rate mortgages have dominated the mortgage market in recent years, mainly because they’re just so darn cheap. They’ve been breaking records left and right thanks to the bleak economic outlook and the Fed’s continued buying of ... Read More »

New Petition Urges Mortgage Re-HARPing

New Petition Urges Mortgage Re-HARPing
January 11, 2013 1 Comment »

Well, file this one under “was bound to happen,” or, “was only a matter of time.” A clever guy by the name of Marcus J. from Clementon, New Jersey has created an online petition to eliminate the securitization cut-off date ... Read More »

Mortgage Rates Not as Low as They Could Be

Mortgage Rates Not as Low as They Could Be
December 31, 2012 No Comments »

A new Fed study and associated workshop revealed that mortgage lenders continue to offer inflated mortgage rates to consumers, despite ongoing efforts to reduce such borrowing costs. Over the past several years, the Fed has pledged to purchase billions in ... Read More »

Watch the Holiday Spending If You Plan to Refinance

Watch the Holiday Spending If You Plan to Refinance
December 6, 2012 No Comments »

Well, believe it or not, the holidays are upon us again. It seems like just yesterday I was cursing the fact that I didn’t have an air conditioner, and now I wish I had a better heater. Go figure. To ... Read More »

HARP Refinancing Takes Off Thanks to New Guidelines

HARP Refinancing Takes Off Thanks to New Guidelines
October 16, 2012 No Comments »

As a result of recent enhancements, and perhaps ultra-low mortgage rates, the Home Affordable Refinance Program has actually made a meaningful impact. Last month, there were a total of 98,885 HARP refinances recorded by the FHFA, which accounted for nearly ... Read More »

Pros and Cons of Refinancing Your Mortgage Right Now

Pros and Cons of Refinancing Your Mortgage Right Now
October 9, 2012 No Comments »

Since April 1, 2009, roughly 16.2 million American homeowners have refinanced their mortgages, according to the latest Housing Scorecard released by HUD. But as you may or may not know, there are still millions of homeowners who have not, for ... Read More »