Mortgage & Refinancing Information

Home Equity Loans - Research Your Lender Carefully


Real estate prices are rising across the country, and Americans are tapping into their home equity like never before. Americans took out $431 billion in home equity loans in 2004, and that amount may increase in 2005.

Do Your Homework - Find the Mortgage That Fits Your Lifestyle and Your Budget


You've been looking at houses for months, and finally you've found it--the house that's just right. So now, all you have to do is to purchase your new home, move in, and get settled, right? Not quite.

Real Estate Tip: Escrow Accounts -- Do You Really Need Them?


If you have a mortgage on your property, whether it's for your personal residence or a real estate investment, chances are you have an escrow account. But if you are working on building wealth through real estate, you may want to take a hard look at your escrow account (or accounts, if you own more than one piece of real estate) and decide if you really need it.

Cardinal Principle of Homeowner Personal Loans - It is a Solution for Any Sort of Financial Funding


You bought a house and you were promoted to the position of a homeowner. It was perhaps the most important decision of your life.

Save Time With a Bridge Loan


Why You Need a Bridge LoanYou have to move fast in today's housing market if you want to get into the home of your dreams. In cities such as Seattle or San Francisco it's not uncommon for a buyer to receive half a dozen offers within the first day or two after putting the house on the market.

Home Equity Loans Categories


Fixed Rate Mortgages: These loans have a fixed rate of interest over the entire term for which the loan has been disbursed. The term for these mortgages is typically between 10 to 30 years.

Home Equity Loan Considerations


In other words, the benefit of the loan must outlast the loan period. Taking a loan for financing that elusive vacation is a strict no-no.

What Are Home Equity Loans?


A home equity loan is simply borrowing on the difference of the value of your home and the outstanding mortgage on the house. Lets say, you have bought a home worth $50,000 some time back, after making a down payment of $5,000.

Types Of Home Equity Loans


There are two broad types of home equity loans:Term loans: Home equity loans of a fixed nature are also called second mortgages. For example, if you have bought a home for $10,000, and made a down payment of $1,000, and taken a mortgage for the rest and have managed to repay another $2,000, then you can apply for a home equity loan of $3,000.

Lesser Known Facts About Home Equity Loans


Refinancing your debt via a home equity loan shifts your debts loan to your home. The flip side to such a move is that your home is on the line.

Home Equity Loan Risks


Home equity loans give individuals a tool to extend their existing credit line by securing debt on the equity value of their existing homes. This access to easy and cheap money can lure the borrower into securing a debt for reasons which otherwise could have been funded through wise money management.

Home Equity Loans Popular Scams


Most borrowers fail to realize that when trading their much beloved home for cash, lenders can foreclose on their property in the case of default. Moreover, because of fly-by-night operators who are ready to strip unsuspecting borrowers of their most prized asset, it is doubly necessary that borrowers be familiar with some frauds that could be perpetrated on them.

Refinancing vs Line of Credit


Refinancing vs line of credit are two popular options you have when deciding the best way to take equity out of your home. Sometimes it makes sense to establish a line of credit.

Buying a House or a Home?


A house is just that, a house, until someone lives in it. That's when it becomes a Home.

Who Else is Ready to have Their Money Work Harder for Them?


What does it mean to refinance? Why would anyone want toconsider it? There are numerous situations when someonewould refinance. When we use the word refinance, we arebasically referring to a loan: for example a car or houseloan.

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MORE RESOURCES:
Site: Yahoo! News Search Results for mortgage refinance
Mortgage rates drop nearly half a point after government takeover of Fannie and Freddie (The Plain Dealer)

Updated 4:38 p.m. Mortgage rates took the biggest one-week plunge in more than 25 years, and the drop below 6 percent could help home buyers and people who want to refinance. The average 30-year rate dropped to 5.93 percent fixed,... The Fannie-Freddie Takeover and Mortgage Rates (Kiplinger.com)

Now is a good time for people to refinance out of an adjustable-rate mortgage into a fixed-rate loan. Mortgage Applications Rise Last Week As Rates Drop (Nasdaq)

(RTTNews) - Industry data released on Wednesday showed that mortgage application volume jumped nearly 10 percent last week, as low 30-year mortgage rates sent investors rushing to refinance. U.S. mortgage volume up in week (Moldova.org)

The volume of applications for U.S. mortgages increased last week, rising by a seasonally adjusted 9.5 percent, an industry group said.The Market Composite Index, which measures mortgage loan application volume, rose from 453.1 to 496.2 in the week ending Sep. 5, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index also increased, up 15.4 percent to 1,222.9, the MBA ... Mortgage brokers, real estate agents say interest rate drop is spurring activity (Contra Costa Times)

n Mortgage brokers, real estate agents say interest rate drop spurring activity Mortgage Relief For Housing Market (Forbes)

With 30-year mortgage loan rates sinking last week, Wall Street is looking for a bottom. Mortgage rates drop big time (Bankrate.com via Yahoo! Finance)

Mortgage rates plummeted this week after the federal government took over mortgage financing giants Freddie Mac and Fannie Mae. Refi boom might not follow bailout (Bankrate.com via Yahoo! Finance)

A dramatic drop in mortgage rates has motivated some homeowners to wonder if they should refinance. A better question might be: Are they able to refinance? Hawaii mortgage rates tumble (Pacific Business News)

Mortgage rates at Hawaii?s largest banks plunged this week following the federal government?s takeover of mortgage giants Fannie Mae and Freddie Mac. Mortgage rates are plunging -- for those who qualify (Los Angeles Times)

Would-be borrowers who have been flooding lenders with phone calls find that standards have changed. The government takeover of Fannie Mae and Freddie Mac has sent mortgage rates tumbling, prompting homeowners and would-be buyers to flood loan offices with phone calls. Site: mortgage refinance - Google News
Mortgage Refinance Applications Soar As Rates Fall - EasyBourse.com

CNBC

Mortgage Refinance Applications Soar As Rates Fall
EasyBourse.com, France - 7 hours ago
The Mortgage Bankers Association's index of refinance applications posted a record 203.3% increase over the previous week. Additionally, the US Treasury ...
Treasury mulls plan to lower mortgage rates to 4.5% CNNMoney.com
Homeowners' Refinancing Jumps by Record Pace Wall Street Journal
Proposal could drop mortgage rates to 4.5 percent San Jose Mercury News
Danville News - The Associated Press
all 310 news articles
US MBA?s Mortgage Applications More Than Doubled Last Week - Bloomberg

RTT News

US MBA?s Mortgage Applications More Than Doubled Last Week
Bloomberg - 17 hours ago
The Mortgage Bankers Association?s index of applications to purchase a home or refinance a loan jumped 112 percent to 857.7, the highest level since March, ...
FINANCIAL STOCKS Bulls outlast bears in Wednesday grudge match MarketWatch
Falling rates spark rush to mortgage applications USA Today
UPDATE 1-US mortgage applications post largest gain ever Reuters
Kansas City Star - U.S. News & World Report
all 138 news articles
A Rush Into Refinancing as Mortgage Rates Fall - New York Times

A Rush Into Refinancing as Mortgage Rates Fall
New York Times, United States - 24 minutes ago
Mortgage rates immediately dropped, and that led to a surge in mortgage refinancing activity for the week ? even with the Thanksgiving holiday. ...
Lower mortgage rates help but jobs, prices key - Reuters

Lower mortgage rates help but jobs, prices key
Reuters - 9 hours ago
Applications to buy and refinance homes hurtled higher last week as the lowest rates since the summer of 2005 unleashed pent-up demand. ...
Paulson Considers New Plan to Resuscitate US Housing Market - Bloomberg

Paulson Considers New Plan to Resuscitate US Housing Market
Bloomberg - 26 minutes ago
While lowering mortgage rates to 4.5 percent would allow most homeowners to refinance into a cheaper loan, far fewer will actually qualify, said Rajiv Setia ...
US Economy: Service Companies Shrink at Record Pace (Update1) - Bloomberg

US Economy: Service Companies Shrink at Record Pace (Update1)
Bloomberg - 12 hours ago
?Things overall still look bad, but this, together with last week?s doubling in MBA refinancing, provide glimmers of hope,? Ian Morris, chief US economist ...
UPDATE: Builders Soar On Lower Rates, But Pain Persists - CNNMoney.com

UPDATE: Builders Soar On Lower Rates, But Pain Persists
CNNMoney.com - 8 hours ago
As consumers raced to lock in lower rates, applications to refinance existing loans jumped 203.3% last week from the week before, while mortgage ...
"Good" news on housing Motley Fool
all 5 news articles
Mortgage Brokers: Now Is Good Time To Refinance - MyNC.com

Mortgage Brokers: Now Is Good Time To Refinance
MyNC.com, NC - 12 hours ago
By Lauren Hills, NBC17, 14 hours, 38 minutes ago While most money matters aren't looking up right now, if you're looking to refinance your home, mortgage ...
Fresh Data Is Sour - Forbes

Fresh Data Is Sour
Forbes, NY - 3 hours ago
28, from the previous week's 404.4 reading, according to the Mortgage Bankers Association's survey. Refinance volume more than tripled, accounting for 69.1% ...
Fed?s Kroszner Says Foreclosures Harming Middle-Income Areas - Bloomberg

Fed?s Kroszner Says Foreclosures Harming Middle-Income Areas
Bloomberg - 8 hours ago
... the highest on record as home prices dropped and stricter mortgage standards made it harder for homeowners to sell or refinance, RealtyTrac Inc. said. ...
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