When interest rates drop, homeowners tend to flock to mortgage lenders hoping to refinance. In good economic times, they are usually looking to not only take advantage of lower interest rates, but tap into their home equity for some extra cash. But in the face of dropping home prices, many are simply hoping to lower their monthly payments or pay down their mortgages more quickly.
Sometimes refinancing is a good idea. But surprisingly, getting that lower interest rate can sometimes cost you more than staying with your current mortgage.
Here is advice on some things to consider before you refinance... Articles Tagged ‘mortgage advice’
Should You Downsize Your Mortgage?
When interest rates drop, homeowners tend to flock to mortgage lenders hoping to refinance. In good economic times, they are usually looking to not only take advantage of lower interest rates, but tap into their home equity for some extra cash. But in the face of dropping home prices, many are simply hoping to lower their monthly payments or pay down their mortgages more quickly.
Sometimes refinancing is a good idea. But surprisingly, getting that lower interest rate can sometimes cost you more than staying with your current mortgage.
Here is advice on some things to consider before you refinance...
Monday, May 9th, 2011
When interest rates drop, homeowners tend to flock to mortgage lenders hoping to refinance. In good economic times, they are usually looking to not only take advantage of lower interest rates, but tap into their home equity for some extra cash. But in the face of dropping home prices, many are simply hoping to lower their monthly payments or pay down their mortgages more quickly.
Sometimes refinancing is a good idea. But surprisingly, getting that lower interest rate can sometimes cost you more than staying with your current mortgage.
Here is advice on some things to consider before you refinance... Best Reasons to Refinance a Mortgage
There are a number of reasons that people may want to review their current mortgages and consider moving to refinance. Understanding the cost versus the benefits can be the best step in moving in the best direction for each individual need.
Some of the questions to consider are have interest rates fallen? Do you expect them to go up? Has your credit score changed so that you might be eligible for a lower-rate mortgage? Would you like to switch into a different type of mortgage?
How you answer these questions will influence your decision to refinance your mortgage. But...
Monday, February 14th, 2011
There are a number of reasons that people may want to review their current mortgages and consider moving to refinance. Understanding the cost versus the benefits can be the best step in moving in the best direction for each individual need.
Some of the questions to consider are have interest rates fallen? Do you expect them to go up? Has your credit score changed so that you might be eligible for a lower-rate mortgage? Would you like to switch into a different type of mortgage?
How you answer these questions will influence your decision to refinance your mortgage. But... Tactics To Delay A Mortgage Foreclosure
Each month we read about more and more homeowners facing the prospect of a mortgage foreclosure. Many cannot afford to pay rent and are terrified of the prospect of moving out to nowhere. If you are finding yourself in this situation, there are ways to delay the foreclosure of your home, sometimes even for a year or more. By living rent and mortgage-free for that time, you could be able to get back on your feet, save up a rent deposit and get moved on your own terms.
Even without using any delay strategies, you will have a few months...
Monday, September 20th, 2010
Each month we read about more and more homeowners facing the prospect of a mortgage foreclosure. Many cannot afford to pay rent and are terrified of the prospect of moving out to nowhere. If you are finding yourself in this situation, there are ways to delay the foreclosure of your home, sometimes even for a year or more. By living rent and mortgage-free for that time, you could be able to get back on your feet, save up a rent deposit and get moved on your own terms.
Even without using any delay strategies, you will have a few months... Get Aid If You Are Underwater With Your Mortgage
Housing prices continue to be on average down 20% from the height of the housing bubble several years ago. These lower prices have caused many homeowners to have a negative equity in their homes. They are faced with the difficult decision of walking away from their home and suffering the consequences of a bank foreclosure. Here is some advice on what to do if you are faced with that decision.
Foreclosing your home will have a severe impact on your credit score and your ability to access credit, either for a new home or any other type of loan. Over...
Wednesday, May 12th, 2010
Housing prices continue to be on average down 20% from the height of the housing bubble several years ago. These lower prices have caused many homeowners to have a negative equity in their homes. They are faced with the difficult decision of walking away from their home and suffering the consequences of a bank foreclosure. Here is some advice on what to do if you are faced with that decision.
Foreclosing your home will have a severe impact on your credit score and your ability to access credit, either for a new home or any other type of loan. Over... FHA Mortgages
An FHA mortgage is one of the most popular ways to purchase a home. And if you’re looking to purchase a home, it’s important to understand what FHA mortgages are so you can evaluate your options.
The FHA stands for Federal Housing Administration and it was developed after the great depression when the banking system was restructured. The purpose was to regulate the mortgage industry, including the terms and interest rates people are charged. In general, they make it easier for people to obtain a home loan.
An FHA loan or mortgage is a loan that’s insured against default by...
Friday, March 5th, 2010
An FHA mortgage is one of the most popular ways to purchase a home. And if you’re looking to purchase a home, it’s important to understand what FHA mortgages are so you can evaluate your options.
The FHA stands for Federal Housing Administration and it was developed after the great depression when the banking system was restructured. The purpose was to regulate the mortgage industry, including the terms and interest rates people are charged. In general, they make it easier for people to obtain a home loan.
An FHA loan or mortgage is a loan that’s insured against default by... 
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