Many homeowners who need help with mortgage loans are finding it difficult to get relief. A Federal Reserve study found that about 2.3 million homeowners who could have been helped by refinancing in 2010 were unable to because of strict lending standards. Underwater mortgages Almost a quarter of U.S. homeowners are underwater on mortgages, making it impossible to get refinancing. Mortgage lenders are unwilling to lend to borrowers who don't have equity in their homes. Not being able to refinanc.... Read More...

The U.S. housing market continues to limp along. About a quarter of homeowners are underwater on their mortgage loans, foreclosure filings continue to drag down local housing markets and many borrowers are unable to refinance or sell their homes to improve their standard of living. Now, on top of everything else, the amount people can borrow with a mortgage backed by the government has dropped. Mortgage borrowing capped As of October 1. 2011, the maximum amount you can borrow with a governme.... Read More...

If you've been paying on a mortgage for quite a few years but want to refinance, consider getting a 15-year loan so you don't end up paying more than you should. Here's why a 15-year mortgage could be a good deal right now. Rock bottom mortgage rates Mortgage rates are at or near historical lows. The average rate for a 15-year fixed mortgage was 3.26 percent as of September 17, 2011, according to HSH.com. At that interest rate, the monthly payment for a 15-year mortgage of $200,000 would be $1,.... Read More...