Refinancing a second home with Fannie or Freddie Mac doesn’t cost any more than refinancing a comparable primary home. There are no risk-based pricing adjustments for second homes. While financing an investment property at 80% of its value can add 3.75 points to your fees, that’s not the case with a second home that meets [...]
Whether you can get approved to refinance a stated income mortgage today depends to some extent on the reason you took out such a loan in the first place. If you needed one because you just didn’t want to deal with complex self-employment forms, or your business didn’t yet have a two-year track record (and [...]
Debt management and debt consolidation are both tools that can help make your debt more affordable. In fact, debt consolidation can be part of a debt management strategy. Here’s how. Debt Management Techniques Debt management usually involves making a monthly payment to a debt management or credit counseling company, which then divides the payment between [...]
The best debt solution for your circumstances depends on a number of things like your income and expenses, your outstanding balances, your employment, and residential status.A debt management plan is an informal debt solution that may also involve budgeting and debt consolidation. The best debt management involves counseling and learning budgeting skills, so that you [...]
A traditional refinance, a Home Affordable Refinance Program (HARP) refinance, a Home Affordable Modification Program (HAMP), or a non-government modification–these are all options for improving your mortgage interest rate. But which is right for you? The HAMP program offers the best deal if you qualify–think of it as a refinance with a rate as low [...]
Refinancing isn’t just about getting a lower payment or even a lower interest rate. You can get a lower monthly payment but find yourself paying tens or even hundreds of thousands more over the life of your loan. Any time you refinance from one mortgage to another with the same term, for example thirty years, [...]
Debt management is a lifelong commitment. Debt management, done correctly, is more than paying off credit cards and consumer loans. It’s learning how to avoid getting in over your head again. A good debt management service includes education and counseling, not just the promise of a quick settlement. Debt management services act as go-betweens for [...]
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Those in the housing industry believe they're starting to see it come back. While home prices may not have hit bottom, they all believe it's a great time to buy. Read More>>
5 good reasons to refinance your home with an FHA mortgage Should you consider cash-out refinancing?
If you are a good credit risk, always pay your mortgage on time and have a steady income, you may have received a refinance offer from your mortgage lender. Before you agree to the offer, though, you Read More>>
Mortgage rates dip lower Refinance activity and home prices decline
