Is it worth it to refinance your mortgage? With recent signs that interest rates may be headed back down again, many people may be wondering if refinancing would make sense for them.As always, the devil is in the details.
With all the attention that's been focused on the Making Home Affordable program, it's easy to forget there are other options out there for reducing your mortgage payments.And if you have an FHA or VA mortgage, there's one that's simply fantastic - a streamline refinance.
The Obama Administration's Making Home Affordable Plan may soon increase its limits on refinancing "underwater" mortgages to allow more homeowners to take advantage of the program, according to the director of the Federal Housing Finance Agency (FHFA).
With today's stellar mortgage rates, many people are lining up for a mortgage refinance.Before you fill out that mortgage application, however, there are a few items to consider as you prepare to refinance your home loan.
One of the most important initiatives to help people through the foreclosure crisis is the new "Making Home Affordable" loan modification program.Under the plan, millions of borrowers are entitled to a loan modification, as long as they qualify for this special government assistance.
Doing a mortgage refinance these days is tough, because lenders-including those doing FHA mortgages--want to see a higher credit score and more proof of assets and income.But they also don't want to refinance until home equity loans or second mortgages have been repaid.
Mortgage applications have been on the rise lately, as rates for home loans have dropped to historic lows.Now, Fannie Mae would like to further increase the number of people looking for a mortgage refinance.
The economic crisis has been unprecedented in many ways, but the latest news concerning Fannie Mae and Freddie Mac takes the cake.The mortgage refinance companies are considering issuing refinanced loans without home value appraisals.
A tax lien can be a major roadblock during a property sale or mortgage refinance.The IRS has initiated a program to ease this process, thus helping some homeowners save their homes or otherwise avert financial disaster.
Last week mortgage rates plummeted to a five month low and took the steepest weekly dive in 28 years.Does this forecast a mini refinance boom? Not likely.Lower rates does not mean easier mortgages, this time around.
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.