MortgageLoan

Freddie, Fannie Intervention Means Good Time to Refinance

By:

Catherine Brock - MortgageLoan.com | October 07, 2008

The government takeover of Fannie Mae and Freddie Mac could potentially increase your tax bill down the road. It can also mean it's a good time to refinance.

Home Value Declines Leave ARM Holders Under Water

By:

Tom Kerr - MortgageLoan.com | September 19, 2008

Millions of ARM loans will do-or have already done-an "ARM reset," which means that they undergo a scheduled monthly payment adjustment. Because they typically begin with a low teaser rate, they generally go much higher when the ARM reset kicks in, and it's not unusual for monthly mortgage payments to double.

Where to Find Government Refinance Assistance

By:

Catherine Brock - MortgageLoan.com | September 17, 2008

Don't panic if you need to refinance quickly; dozens of state and federal government programs can help.

Compulsive Cash-Out Refinancing is a Risky Scenario

By:

Tom Kerr - MortgageLoan.com | September 12, 2008

Frequent cash-out refinancing can be a financially risky strategy, because a cash-out refinance can bleed the equity out of your property. Before doing a refinance of any kind, it's important for homeowners to carefully study the bottom line and the long-term repercussions of such a move.

Need a Refinance? Try a private lender

By:

Tom Kerr - MortgageLoan.com | September 05, 2008

As it becomes increasingly difficult to borrow for a refinance from traditional banks, more and more consumers are turning to private lenders. While this strategy usually costs more, it involves fewer hassles and more assurances that loans will go through without delays.

Can't Refinance? Consider Chapter 7 Bankruptcy

By:

Catherine Brock - MortgageLoan.com | September 04, 2008

When you have a mortgage you can't afford and refinancing isn't an option, don't dismiss the possibility that a Chapter 7 bankruptcy may actually help you in the long run.

Refinancing: Can the Government Really Help?

By:

Catherine Brock - MortgageLoan.com | August 10, 2008

Government programs designed to help America out of the housing crisis may finally get pushed through to implementation. How much relief these programs can provide, however, remains to be seen.

How Refinancing Can Hurt Insurance Rates

By:

Catherine Brock - MortgageLoan.com | August 09, 2008

A mortgage refinance may have some negative consequences that you never anticipated.

Refinancing in Today's Environment

By:

Tom Kerr - MortgageLoan.com | August 02, 2008

The financial formulas used in the past to help homeowners make mortgage refinance decisions may be obsolete. Before refinancing, it's important to put the decision into an updated and accurate perspective.

Time to Refinance Your Adjustable-Rate Mortgage

By:

Greg Mischio - MortgageLoan.com | August 01, 2008

The lessons of the subprime mortgage crisis are obvious: If you have an adjustable-rate mortgage, refinancing to a fixed-rate home loan is a smart move. The sooner you act, the less likely you'll get caught between rising interest rates and declining home values.

Retirees May Be Unable to Tap Home Equity by Refinancing

By:

Tom Kerr - MortgageLoan.com | July 25, 2008

Baby Boomers face new challenges when it comes to refinancing to tap home equity for fixed income. The real estate value they banked on to fund retirement may have been erased by the recent housing downturn, leaving them without the equity windfall typically enjoyed by seniors.

Shaq to Refinancing Rescue

By:

Catherine Brock - MortgageLoan.com | July 19, 2008

Shaquille O'Neal, basketball's Big Diesel, wants to provide refinancing for at-risk mortgages.

Funding Real Estate Investing Opportunities

By:

Tom Kerr - MortgageLoan.com | July 18, 2008

The housing market is a mess, and mortgages are harder to get; but there are also some rare and wonderful deals on the market. Those who can come up with mortgage funds can capitalize on the unusual opportunity while it lasts, and there are a variety of ways to help fund a purchase.

Top Resources for Refinancing Help

By:

Catherine Brock - MortgageLoan.com | July 11, 2008

Don't head into a refinance without knowing the territory. Get organized with this list of resources that can help you prepare.

Rising Rates May Spur Refinancing Surge

By:

Tom Kerr - MortgageLoan.com | July 11, 2008

Conventional wisdom tells us that when interest rates fall, people tend to refinance in order to capture them. But refinancing has also historically spiked when rates turn upward, because people don't want to miss the chance to lock in attractive rates that may soon slip away.

Refinancing to Acquire Rental Properties

By:

Tom Kerr - MortgageLoan.com | July 04, 2008

Cash is king during a recession, and those who have money to buy today's depressed income-producing properties are laughing all the way to the bank. To get investment capital, many are turning to refinancing strategies.

New FHA Jumbo Loans to the "Refi" Rescue

By:

Tom Kerr - MortgageLoan.com | June 28, 2008

Jumbo mortgages are larger-than-normal mortgages that are used to pay for, or refinance, higher-cost homes. The Federal Housing Administration (FHA) began insuring these big loans this year, at least on a temporary basis, as part of the government's much-touted economic stimulus package.

Refinancing: Reduce Those Pesky Fees

By:

Tom Kerr - MortgageLoan.com | June 19, 2008

People who are refinancing home loans are advised to scrutinize the closing costs. Study the settlement statement, and object to any fees that are not warranted or justified. While the interest rate may get the most attention, other small details can add up to a significant amount of money.

Creative Ways to Abandon Your Mortgage

By:

Tom Kerr - MortgageLoan.com | June 19, 2008

Homeowners who tried refinancing, but were rejected because they owed more than their homes were worth, may be ready to walk away and abandon their mortgages altogether. Desperate times call for desperate measures, and that has given rise to some novel and offbeat strategies.

Remodeling? First Hire an Appraiser

By:

Tom Kerr - MortgageLoan.com | June 13, 2008

Homeowners thinking of remodeling to boost the value of their property may want to first hire a professional appraiser to look at the home improvement plans. The appraiser can do a market appraisal and demonstrate "before and after" values. Having that information can help avoid costly mistakes while guiding decisions to ensure that you get maximum equity from a project.

Guide To Finding Best Refinance Rates

By:

Catherine Brock - MortgageLoan.com | June 12, 2008

The time to refinance is when rates have dropped enough to save you money. The harder question to answer is: how do you know when the rates have dropped enough so you can do just that?

Homeowners vs. Speculators: The Bailout Wars

By:

Tom Kerr - MortgageLoan.com | June 07, 2008

As rescue plans and bailout debates continue, almost everyone distinguishes between homeowners and investment speculators. They point out that what's beneficial to one group will harm and threaten the other. But the two may have more in common than meets the eye.

Housing Bailouts: Letting the Chips Fall

By:

Tom Kerr - MortgageLoan.com | June 06, 2008

While politicians debate various plans to rescue our ailing real estate and mortgage markets, some experts oppose any artificial life support that could potentially disrupt the natural forces of our free market system. They argue that such manipulation got us into this mess in the first place.

Recast Your Mortgage

By:

Catherine Brock - MortgageLoan.com | May 15, 2008

When circumstances make it tough for you to make your mortgage payments, consider asking your lender about a mortgage recast.

Property Values and Computer Generated Appraisals

By:

Tom Kerr - MortgageLoan.com | May 08, 2008

To many real estate industry veterans, relying upon computer programs to calculate home values seems like a deplorable idea. But in an increasingly automated world, appraisals via software are now popular with many lenders. Unfortunately, it may adversely affect your mortgage or refinance.

Is Refinancing the Answer to Credit Card Debt?

By:

Greg Mischio - MortgageLoan.com | April 15, 2008

There are two ways to overcome credit card debt. The first is refinancing your home, and using a new mortgage as a debt consolidation loan. The second is to modify your behavior and pay off your credit card debt slowly.

Saving Our Homes: Plans to End the Subprime Crisis

By:

Catherine Brock - MortgageLoan.com | April 10, 2008

More than a year into the subprime crisis, the mortgage industry hasn't shown any convincing signs of recovery. Politicians say that more needs to be done to help homeowners in distress, and they have some big ideas for action.

Refinancing Woes? Meet the Parents!

By:

Catherine Brock - MortgageLoan.com | April 09, 2008

When you're facing foreclosure and you don't qualify for a refinance, consider asking mom and dad to help you out of the jam.

Refinance and Be a Happy Condo Owner

By:

Greg Mischio - MortgageLoan.com | March 19, 2008

Real estate is a lot like life: Sometimes, when one door closes, another one opens. Case in point: The slumping real estate market has hurt many property owners, but it has also provided a real opportunity for people looking to buy a condominium for a vacation home.

The New Dinosaur: Cash Out Refinancing

By:

Greg Mischio - MortgageLoan.com | March 14, 2008

For homeowners, a cash-out refinance used to be the pot of gold at the end of the rainbow. In the days of sky-rocketing home values, this type of loan was an easy source of cash. But as the declining number of refinances indicates, times have definitely changed.

Foreclosure Prevention Act to Help with Refinancing

By:

Tom Kerr - MortgageLoan.com | March 13, 2008

To help distressed homeowners avoid foreclosure, Democratic senators have proposed the "Foreclosure Prevention Act of 2008." The bill would help borrowers by potentially lowering the amounts they owe, and would free up more money to pay for the mortgage refinance of subprimes.

Help with Refinancing from Municipal Bonds

By:

Catherine Brock - MortgageLoan.com | March 04, 2008

Politicians and economists are clamoring to come up with a solution to the nation's mortgage crisis. One measure that's currently being considered will allow states to issue tax-free bonds to fund mortgage refinances.

Refinancing: A Hot Trend for a Lucky Few

By:

Tom Kerr - MortgageLoan.com | March 03, 2008

"Refi Fever" has again swept across the land, and record numbers of homeowners are rushing to refinance and capture extra low interest rates. But many get turned away because of jumbo mortgages or low credit scores.

Refinancing Woes? Try a House Swap

By:

Catherine Brock - MortgageLoan.com | March 02, 2008

The emerging trend of house-swapping can be a strategy for downsizing your home and your mortgage.

Refinancing Alternative: Sell at Auction

By:

Greg Mischio - MortgageLoan.com | February 28, 2008

The word auction conjures up images of art at Sotheby's going for astronomical prices, or a fast-talking guy in a straw hat selling odds and ends at a frantic pace. In today's sagging real estate market, it can also apply to selling your home.

Refinancing? Protect Yourself from Surprises at Closing

By:

Tom Kerr - MortgageLoan.com | February 19, 2008

If you plan to refinance your mortgage, it's important to understand the expenses involved. Otherwise, you may get to the closing table and have a rude awakening. Thanks to lots of relatively small costs that add up quickly, paying for a refinance can get surprisingly expensive.

Escape the Reset Crisis with a Refinance

By:

Tom Kerr - MortgageLoan.com | February 18, 2008

Pay attention to the details if you have an adjustable-rate mortgage (ARM). Many three-year ARMs are scheduled to reset during the next 18 months, and many homeowners aren't prepared for the drastic payment increase.

Refinancing? Figure out the Break-Even Period

By:

Tom Kerr - MortgageLoan.com | February 08, 2008

To do a realistic, cost-conscious mortgage refinance, first determine your break-even point, or how long it will take to start gaining a positive return on your investment of the costs of refinancing. With a calendar and a calculator-or help from your number-crunching lender-it's relatively easy.

Refinancing and Interest Rate Lock-ins

By:

Tom Kerr - MortgageLoan.com | January 30, 2008

To lock or not is a question that plagues many consumers when they decide to refinance a loan. The rate might be yours for years, so it's advised that you make an informed and savvy decision.

Choosing the Right Mortgage to Remodel

By:

Tom Kerr - MortgageLoan.com | January 26, 2008

Paying for a remodeling project with a home loan is usually a good idea. But choosing exactly the right type of mortgage instrument may require some planning and calculation.

Is Escrow Right for Your Refinance?

By:

Amelia R. Frost - MortgageLoan.com | January 22, 2008

When refinancing a home loan, one of the many decisions that you'll have to make is whether or not to escrow your homeowner's insurance and property taxes. Some say yes, others no. Which option is right for you?

Refinancing in a Tightening Market

By:

Greg Mischio - MortgageLoan.com | January 17, 2008

Just because times are tough for lenders doesn't mean that you should be shy about pursuing a mortgage refinance. For a variety of reasons, many lenders will welcome your business with open arms, even if your credit is less than perfect.

Five Factors for Refinancing

By:

Greg Mischio - MortgageLoan.com | January 13, 2008

Knowledge is power, especially when it comes to a mortgage refinance. The more details you know about your current mortgage, the easier it will be for you to decide if it's the right time to refinance that loan.

Three Reasons Not to Refinance

By:

Greg Mischio - MortgageLoan.com | January 05, 2008

When a doctor taps your knee with a rubber hammer, your body's natural reaction is to kick. Similar knee-jerk reactions occur when you examine the monthly savings of a mortgage refinance. But if you close on a loan without knowing some of the reasons not to refinance, you may wind up kicking yourself.