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Refinancing Articles

Posted on February 13   By MLP Blog
Mar. 7- It's scary to think that your retirement or the kids' college fund can be hurt by a mortgage company lending money to somebody who, it turns out, can't afford the payments. But that can happen in today's economy, where overzealous sub-prime lenders can trigger foreclosures, worsen the slumping housing market, discourage consumers, cause an economic slowdown and roil the stock market. That spiraling scenario hasn't happened yet, exactly, but you know how these things go: One day there's n.... Read More...
Posted on November 11   By Francine Huff
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...
Posted on November 11   By Francine Huff
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...
Posted on September 03   By Justin McHood
As the economy slows, many people are trying to stretch each dollar as far as they possibly can and for many people, their single largest bill each month is their monthly mortgage payment. Let's say for example that you have a decrease in income or have a substantial rise in debt and you are left in a situation where you can't refinance. And maybe you have inquired of your lender whether or not you qualify for a loan modification and they told you that you didn't qualify for whatever reason. Is .... Read More...
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