Category: Refinance
Dear Ed, I’m considering refinancing into a 15-year fixed-rate loan. I currently have a 30-year loan that was refinanced in 2005 for $120,000 at a rate of 5.375 percent. I’ve been making additional principal payments every month and the current balance is $95,000. My lender said it will refinance my loan into a 15-year mortgage [...]
The Van Ripers have moved up the date of their mortgage-burning party. When the couple purchased their St. Paul, Minn., home in 2005, they locked in a 6 percent interest rate for 30 years. But with mortgage rates at jaw-dropping lows, they refinanced into a 4.125 percent, 15-year mortgage that will save them more than [...]
Many are complaining about the fact that their home has lost value in the last three years. They purchased the home in the early 2000s and saw nice increases for a few years. Then the housing bubble burst and the market started going south, and it kept going down, and down, and down. It has [...]
FHA Streamline Refinance – A Simple Definition: The FHA streamline refinance is a refinance program designed for people who currently have an FHA loan to be able to take advantage of lowering their interest rate when rates drop with less documentation than a “normal” refinance requires. The term streamline refers to the reduced documentation requirements [...]
The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth. The Federal Housing Administration will permit lenders to give these borrowers refinanced loans backed by the government. The lenders will be required to [...]
The average rate on a “jumbo” mortgage — a loan of more than $729,750 — has fallen nearly a point and a half in a year. It’s no surprise that the average 5.48 percent rate is prompting a wave of refinancings. According to the Mortgage Bankers Association, applications to refinance are now at a 13-month [...]
Because of strife in Greece, Spain and North Korea, conforming mortgage rates are back to all-time lows. They’re at levels not seen in 50 years. For homeowners that missed the Refi Boom of November 2009, this is your second chance. In this well-presented, 3-minute video (below), from NBC’s The Today Show, you’ll get tips on getting [...]
For many the time has come to refinance your existing mortgage. I am not saying that it’s not possible that rates will not go any lower than they are right now. The truth is no one can know for sure how low or high they may go (you have to remember the last time there [...]
I’ve been running a radio ad in the Los Angeles area the past couple of days, tremendous response and majority of the prospects are extremely credit worthy. Here’s a problem I ran into last night while taking a call a 9pm, how would you have advised the client? Mr. Prospect calls about refinancing, he’s currently [...]
With rates on many homeowners’ adjustable-rate mortgages rising, some who would like to refinance into a new loan are finding they can’t. In most cases, it’s because their loan carries a prepayment penalty, which would require them to come up with thousands of dollars if they refinance in the first few years. Pre-payment penalties are [...]
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Palm Springs Homes Are Selling Fast
Properly priced Palm Springs homes are selling fast. The number one question from both Buyers and Sellers is, “How’s The Market in Palm Springs?” My Answer is always the same: “If they’re priced properly, they’re selling fast!” Why Are Properties Selling Fast? A knowledgable REALTOR® can help Sellers understand the complexity of todays market. Homes [...]
Buying a Palm Springs Home in 2012
Are you one of the hundreds of people who will be Buying a Palm Springs Home in 2012? We’re almost at the end of 2011, with 2012 quickly becoming a reality, like every year before it people have started putting their list of New Years Resolutions together. Usually found on that list somewhere is the [...]
I am quite sure that Countrywide was not alone, but they were certainly one of the biggest players. This is the reality behind the real estate crisis and why it continues to roll along with no end in sight! I can tell you story after story of Countrywide reps and reps from other banks encouraging [...]
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