Category Archives: Refinance

Refinance Your Mortgage Now

Lilly Nelson writes: You have been in your house for a few years. You still have to pay your homeowners insurance. The budget belt is getting tighter due to an alarming 6.6% interest rate on your mortgage. Sure you get … Continue reading

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Investors Relieved That Obama’s Refinancing Idea Not So Dramatic

So the Obama administration is going to make it possible for people with homes underwater to refinance their mortgages into lower rates. The private market won’t make such deals. It makes no sense to give a mortgage to somebody underwater … Continue reading

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New Plan Likely To Allow For Refinancing Of Underwater Mortgages

A major settlement between the Obama administration and the state attorney generals over shoddy foreclosure practices by the big banks is likely to allow tens of thousands of people with underwater mortgages to refinance. Without this special break, people who … Continue reading

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Millions Of Frustrated Homeowners Can’t Refinance

Millions of people bought a home figuring it would be a great investment. Then their home lost so much value it became worth less than their mortgage. And that mortgage? It’s for six percent or seven or eight or nine … Continue reading

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LAT: The government should try to enable more people whose property values have plummeted to refinance. These borrowers are caught in a trap not of their own making.

The Los Angeles Times editorializes that it would be a great idea for the government to subsidize refinancing for those homeowners who do not qualify for private market refinancing. They say the crash of the housing bubble is not the … Continue reading

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The Federal Reserve Pushes Mortgage Interest Rates Lower

The Federal Reserve under Ben Bernanke is doing everything it can to prevent America from falling into another recession. It is lowering interest rates and prompting a mini flood of refinance applications. How much will this help the housing market? … Continue reading

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Mortgage Lenders Avoid Risk

As a reaction to the profligate and reckless lending of the housing boom, since 2007 mortgage lending has been much more discriminate. “Discriminate” is a bad word to many people but I think it is a good word. I have … Continue reading

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16 Million Americans Underwater On Their Mortgages

Sixteen million Americans owe more on their homes than their homes are worth. They are often locked into mortgages that carry interest rates well above 6%. They would love to refinance into lower monthly payments but the private sector is … Continue reading

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Millions Of Americans Can’t Refinance

At least 2.3 million American homeowners who would benefit from mortgage refinancing can not refinance due to two principle reasons — low credit scores and a lack of equity in their homes. Long-term fixed rate mortgage interest rates are around … Continue reading

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Mortgage Lending Drops Sharply In Distressed Neighborhoods

The WSJ says: Banks understandably do not want to invest in neighborhoods that are going to pot. If homes all around are going into foreclosure, the neighborhood is blighted and banks are not interested in writing new mortgage loans there. … Continue reading

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