Refinance
Everything you’ve ever wanted to know about refinancing a mortgage.Cash Out Refinance Share Hits New Low
The share of those refinancing who pulled cash out hit a new low in the third quarter, according to mortgage financier Freddie Mac. Just 18 percent of refinance loans were considered cash-out refinances, defined as mortgages where the loan balance ... Read More »
Blanket Refinance Legislation to be Unveiled
Remember those rumors about a blanket refinance about two months ago? You know, that government mortgage financiers Fannie Mae and Freddie Mac were set to forgive mortgage debt for millions of underwater homeowners so they could take advantage of the ... Read More »
When to Refinance a Home Mortgage
Mortgage Q&A: “When to refinance a home mortgage.” With mortgage rates at record lows, you may be wondering if now is a good time to refinance. The popular 30-year fixed-rate mortgage slipped to 4.32 percent this week, well below the ... Read More »
Refinancing Borrowers Going with Shorter Loan Terms
More homeowners are opting for shorter loan terms when refinancing, according to mortgage financier Freddie Mac. During the second quarter, 30 percent of borrowers who originally had 30-year fixed-rate mortgages went with 15-year or 20-year fixed-rate loans, the highest level ... Read More »
FHA Short Refinance Program to Launch Next Month
More relief is on the way for underwater borrowers, assuming mortgage lenders agree to take part in the voluntary program. On September 7, the FHA will begin offering FHA loans to certain underwater non-FHA borrowers who are current on their ... Read More »
FHA Short Refinance Option Coming Soon
A new option that should be available by fall of this year will allow borrowers current on their mortgages to execute short refinances into FHA loans, whether the original loan was FHA-insured or not. The new FHA loan must have ... Read More »
Home Affordable Refinance Program Extended into 2011
The Home Affordable Refinance Program (HARP) has been extended until June 30, 2011, according to the Federal Housing Finance Agency (FHFA). “FHFA has reviewed the current market situation and the state of mortgage insurance availability and has determined that the ... Read More »
Can I Refinance With Negative Equity?
Mortgage Q&A: “Can I refinance with negative equity?” Nowadays, more and more homeowners are finding that their home isn’t worth what it once was. In fact, many are discovering that their current mortgage balance now exceeds the value of their ... Read More »
Does Refinancing Hurt Your Credit Score?
Mortgage Q&A: “Does refinancing hurt your credit score?” Consumers always seem to be overly concerned about their credit scores and what impact certain actions may have on them; perhaps this is a result of all that clever marketing on behalf ... Read More »
How Does Refinancing Work?
More fundamental mortgage Q&A: “How does refinancing work?” When you refinance your mortgage, you are essentially trading in your old loan for a fresh one with a new interest rate and term. You may elect to receive a new mortgage ... Read More »
