Refinance Mortgage Now

A New Alternative to Refinancing

When homeowners can't afford the unexpected higher payments, their first line of defense is to refinance into a more attractive and manageable loan. While mortgage refinance strategies have inspired an unprecedented number of new loan refinance applications, many of those attempts are now being met with rejection from lenders. That's because they've tightened their rules and regulations to curtail risk and offset losses. What that means for you is that it's much harder to get a loan than it used to be. Homeowners who had no trouble refinancing a couple of years ago may find that they don't qualify anymore under the new guidelines. With no way to refinance, they're stuck in mortgages that keep getting more expensive, even as real estate values shrink, and home equity diminishes or vanishes completely. Blair recommended that the plan be applied only to help homeowners who live in their homes-not investors who bought property for investment purposes only. The approach would essentially accomplish the same thing that homeowners are hoping to achieve through a mortgage refinance, and could prevent hundreds of thousands-if not millions-of devastating foreclosures.