In an effort to attract more eligible borrowers who could benefit from the Home Affordable Refinance Program, the Federal Housing Finance Agency (FHFA) recently announced changes to the HARP Program. The HARP refinance options are designed to assist Fannie Mae home borrowers who have demonstrated acceptable payment history on … [Read more...] about HARP Refinance – Program Extension
Although it is still difficult to get a mortgage in today's market, mortgage interest rates are at an all-time low. The result of low interest rate mortgage loans is that home refinancing now makes up the majority of activity in the mortgage markets. Since demand for new homes has dropped due to the recession, current … [Read more...] about Low Mortgage Interest Rates Spur Home Refinancing
There are many reasons for refinancing your home mortgage - with tax breaks being one of them. Although refinancing your mortgage for the purpose of getting tax breaks from the IRS may be a bit extreme. Rather, you can think about tax breaks from refinancing a perk rather than a purpose. When you buy a home you can deduct … [Read more...] about Tax Breaks Refinancing – Are There Tax Breaks When Refiancing My Home?
Whether it is obvious to you about why you might refinance, there are quite a few people out there who are homeowners asking themselves about refinancing my mortgage who don't actually know for what purpose they would or could refinance their home mortgage. So, we decided to put together a brief list of reasons to refinance your … [Read more...] about Refinancing My Mortgage – Top Reasons To Consider A Refinance
The HARP Program is intended to help those homeowners who want to refinance their mortgage but cannot because their home's value has decreased enough to prevent them from qualifying for normal Fannie Mae and Freddie Mac conventional lending loan to value underwriting guidelines. HARP Eligibility Requirements Your … [Read more...] about What Is The HARP Program? Home Affordable Refinance Program
March 2, 2010 - Are you still underwater with your mortgage and home value and have been unable to refinance? Yesterday, homeowners underwater on their mortgage who have been unable to refinance their mortgage under the Home Affordable Refinance Program got some good news from the Obama Administration as the program was extended … [Read more...] about Home Affordable Refinance Program – HARP – Extended Until June 2011
One of the biggest challenges in today’s mortgage industry is that interest rates have been low for a long time - 5% seems almost normal. Many younger home buyers and home owners haven't seen interest rates above 6-7%. It seems as if we almost expect interest rates to hover around 5% for infinity. Do you find yourself … [Read more...] about Younger Homeowners and Homebuyers Are In For A Real Shocker
Perhaps you have been holding up on refinancing your mortgage for one reason or another. you really don't want to find out what your home is worth you really don't want to know what your credit scores are or what you credit report looks like. Indeed, refinancing, or at least starting the process can be a risky step to … [Read more...] about Refinancing Your Mortgage – What Is Stopping You?