refinance Dear Dr. Don,I want to refinance my home. I currently have a 5.5 percent mortgage and can get a new mortgage loan at 4 percent. I owe $173,000, and my house should appraise at $300,000, even in this down market. I purchased the home for $325,000. What’s the problem? I am the co-signer for ...Read More
[unable to retrieve full-text content]A lot of homeowners with underwater mortgages would like to refinance, but they don't qualify for HARP (the federal Home Affordable Refinance Program). Do they have other options?
refinance Dear Dr. Don,I have an existing 5/1 adjustable-rate mortgage, and my house is underwater. My loan adjusted three years ago. Although my rate is low now, I want to refinance to a fixed rate, but I don’t have any equity in the home. My house is appraised at $310,000, but I owe $327,000. I ...Read More
By Kirk HaverkampProvided by A lot of homeowners with underwater mortgages would like to refinance, but they don’t qualify for HARP (the federal Home Affordable Refinance Program). Do they have other options? Surprisingly, yes. There are other ways you can refinance a negative-equity mortgage if you don’t qualify for HARP. Unfortunately, they’re limited to borrowers who ...Read More
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PHOENIX–(BUSINESS WIRE)– Arizona State Credit Union added construction loans to its home loan portfolio in anticipation of an improving economy, as evidenced by the 27 percent growth of new home sales in March compared to the prior year, according to RL Brown, Phoenix housing expert. The construction loan program allows members the opportunity to lock ...Read More
home equity Dear Dr. Don,We recently refinanced our mortgage of $87,000 to get a lower monthly payment. We just found out the loan we have is not really a mortgage but a home equity line of credit. Are we at a disadvantage with this type of loan? It’s a 15-year loan at 3.99 percent interest ...Read More
A lot of homeowners with underwater mortgages would like to refinance, but they don’t qualify for HARP (the federal Home Affordable Refinance Program). Do they have other options? Surprisingly, yes. There are other ways you can refinance a negative-equity mortgage if you don’t qualify for HARP. Unfortunately, they’re limited to borrowers who are in specific ...Read More
MCLEAN, Va., May 14, 2012 /PRNewswire/ — In the first quarter of 2012, fixed-rate loans accounted for more than 95 percent of refinance loans, based on the Freddie Mac (FMCC.OB) Quarterly Product Transition Report released today. Refinancing borrowers clearly preferred fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or a ...Read More
SAN FRANCISCO, May 14, 2012 /PRNewswire/ — Bank of the West has seen a rise in mortgage loan applications since April as homeowners seek to take advantage of low interest rates under the government’s Home Affordable Refinance Program (HARP) 2.0. To view the multimedia asses associated with this release, please visit: http://www.multivu.com/mnr/54577-bank-of-the-west-mortgage-loan-applications-refinance-harp-2-0 (Photo: http://photos.prnewswire.com/prnh/20120514/MM04377 ) ...Read More