How to Refinance With No Equity in Your Home
Is it possible to refinance with no equity in the current economy? For some people, yes. For others, no. More than anything, it depends on who owns the mortgage. Homeowners in certain situations can refinance their homes with little or no equity, but it’s not available to everyone. I’ll cover those guidelines in just a moment. But first, I want to share a question and concern somebody...
Read MoreWhen Should I Refinance My Mortgage Loan?
When does it make sense to refinance my home? Is there some kind of rule of thumb to go buy? Should I refinance my mortgage loan now, or build more equity first? Am I even qualified for a refi? When it comes to refinancing, these are some of the most common questions that homeowners ask. So I’ll do my best to answer them in a straightforward fashion with this blog post. Let’s just...
Read MoreGovernment Mortgage Refinance Program – Up to 25% Underwater
In the past, we’ve written about the governments Making Home Affordable program and how it can help people refinance their homes when they are upside down / underwater in their mortgage loans. The original requirement was that you could not be upside down by more than 5%, which means your home’s value could not exceed 105% of your loan balance. Earlier this month, however, the program...
Read MoreCurrent Mortgage Refinance Rates – Research Tips
In this lesson, I’d like to talk to you about current mortgage refinance rates and how to find them online. More importantly, I’d like to explain how the refinance rate affects you as the borrower. The interest rate is one of the most important concepts of mortgage refinancing, because it’s largely what determines whether or not it makes sense to refinance in the first...
Read MoreWhen Does it Make Sense to Refinance My Mortgage?
When does it make sense for me to refinance my mortgage loan? That’s the question I’d like to talk to you about today. This is something a lot of homeowners are thinking about right now, mainly because they’ve heard how low interest rates are today. While it’s true that interest rates on mortgages are the lowest we’ve seen for a while, that doesn’t mean that...
Read MoreWhy Do I Need PMI to Refinance My Mortgage Loan?
Have you been turned down for refinancing because you lacked PMI coverage? Are you confused as to why this happened? If so, this article may shed some light on the subject. Here’s why some homeowners need PMI in order to refinance their mortgage loans. I recently received the following email question from a reader: “I have tried to refinance my home with Citi mortgage under the Gov....
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