If you’re a homeowner, I’m sure you have heard a lot about mortgage refinancing on the news lately. Following the mortgage crisis that led to our current recession, a lot of homeowners were rushing to refi.
The question is — when does it make sense to refinance a mortgage loan, and when should it be avoided? [...]
Frequently Asked Questions | admin | 
November 11, 2009 9:17 am | 
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Getting a low mortgage rate is the number-one reason people refinance their homes. But what does it take to get the best rates these days? That’s the subject of today’s refinancing lesson.
Interest rates are still low right now. At the time this article was published (November ‘09), the average rate on a 30-year fixed mortgage [...]
Refinancing Process | admin | 9:11 am | Comments Off
What is a debt consolidation refinance and how does it work? Basically, it’s when you combine refinancing with the consolidation of other forms of debt. In other words, the lender will refinance your mortgage while also paying off the other debts (by making them part of the new loan payment).
The benefits of this process can [...]
Types of Loans | admin | 8:56 am | Comments Off
Low interest rates are prompting a lot of homeowners to refinance their mortgages right now. But many people experience an unpleasant surprise when they contact their lenders about refinancing their homes. Much to their dismay, they find out they are upside down in the mortgage loan, which makes it almost impossible to refinance.
But there are [...]
Government Programs | admin | September 19, 2009 4:21 pm | Comments (0)
Reader question: “I keep hearing how hard it is to refinance a mortgage in the current economy. Why is refinancing so hard to do right now, and what can I do to make it easier?”
I don’t think it’s accurate to say that it’s hard to refinance in the current economy — at least not in [...]
Refinancing Process | admin | September 5, 2009 9:11 am | Comments (0)
Please note that we are not associated with Fannie Mae in any way. So if you have any questions about their Refi Plus program, you will have to contact a Fannie Mae representative. This lesson has been posted to the Mortgage Refinance School as a basic guide to Refi Plus for homeowners. With that out [...]
Types of Loans | admin | July 17, 2009 7:48 am | Comments (0)
What steps are involved in the refinancing process, and what should you know about each step? That’s what I’d like to talk about in today’s lesson.
Below, you’ll find an outline of the home refinancing steps most people go through. I used the word “most” because the refinance process varies between different lenders, and from one [...]
Refinancing Process | admin | July 16, 2009 7:19 am | Comments Off
Many homeowners are wondering if they should refinance their homes now or wait until later. Are you one of them? Perhaps you’ve heard that interest rates are low, and that you could save money by refinancing? On the contrary, you might have also heard that property values have dropped, making it harder to refinance. So, [...]
Frequently Asked Questions | admin | July 3, 2009 8:00 am | Comments (0)
You have a first and second mortgage on your house, and now you want to refinance the home. Is refinancing possible under the circumstances? In some cases it’s possible, but in other cases not. Let’s talk about each scenario.
Many people who cannot afford a big down payment end up using a first and second mortgage [...]
Frequently Asked Questions | admin | July 1, 2009 7:19 am | Comments (0)
How can I refinance my mortgage with no equity, or very little equity? Is refinancing even possible in a negative-equity situation?
We have been getting this question a lot lately, and there’s no mystery why. Our recent housing collapse sent many people’s home values into a downward spiral. So millions of homeowners who had positive equity [...]
Frequently Asked Questions | admin | 6:55 am | Comments (0)
This blog offers mortgage refinancing information for homeowners. The information on this blog is intended for general education only. We are not acting as your financial advisor, nor should you make any financial decisions based solely upon the refinancing information we provide.
If you are planning to refinance your home in the near future, we recommend that you learn everything you can about the subject before talking to lenders. That means you should continue your research beyond this website. We hope you find this refinancing information helpful.
