Showing posts with label refinance. Show all posts
Showing posts with label refinance. Show all posts
Sep 28, 2011
Responsible Homeowners Left Out in the Cold
Consider it yet another cruel irony of the housing bust: While hundreds of thousands of mortgage borrowers have been able to squat in their homes without making a single mortgage payment in months or even years, many responsible homeowners who have good credit and consistently meet their monthly obligations haven't been able to refinance in order to avoid losing their homes. Read full story at CNNmoney.com.
Jul 29, 2010
‘Trapped’ in a Home?
Some intrepid homeowners are intentionally taking a loss on their current house - and writing a big check to retire their old mortgage - in order to buy twice the home for not much more money. Others, eschewing conventional personal-finance advice, are even opting for 'cash-in' refinancings, paying thousands of dollars out of pocket to settle old loans - and then taking out new mortgages with lower payments, shorter durations or both.
Read entire story at wsj.com.
Read entire story at wsj.com.
Jul 1, 2010
Verifying Borrowers’ Finances
Mortgage brokers and lenders will often caution borrowers against charging up their credit cards or changing jobs before the closing date on a home loan. Now that advice seems especially prudent.
On Jun 1, Fannie Mae, the government-sponsored company that establishes the underwriting standards for most of the nation’s mortgages, started requiring lenders to recheck a borrower’s finances shortly before closing the loan. If a broker or lender finds significant changes, the loan could be delayed, or in some cases, denied.
Read full story at New York Times
On Jun 1, Fannie Mae, the government-sponsored company that establishes the underwriting standards for most of the nation’s mortgages, started requiring lenders to recheck a borrower’s finances shortly before closing the loan. If a broker or lender finds significant changes, the loan could be delayed, or in some cases, denied.
Read full story at New York Times
Feb 15, 2010
203(k) Loan
There are many great, affordable available for sale in East Orlando and many of these homes are in need of repair. Due to cost and time, the average buyer shies away from these homes. When will we have the time to do necessary repairs and more importantly, where will we get the money?
For a homebuyer with the time and money to buy a distressed property, a 203(k) loan may be something to consider. With a 203(k) loan, a homebuyer can get one mortgage loan at a long-term fixed (or adjustable) rate to finance both the acquisition and the rehab/repair of the property.
Learn more from HUD.
For a homebuyer with the time and money to buy a distressed property, a 203(k) loan may be something to consider. With a 203(k) loan, a homebuyer can get one mortgage loan at a long-term fixed (or adjustable) rate to finance both the acquisition and the rehab/repair of the property.
Learn more from HUD.
Apr 24, 2009
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