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best mortgage refinance

Cash out home refinance loans available for bad credit and no credit people at best mortgage interest rates. No credit check, no closing cost and no doc mortgage refinancing loan at low interest rate. Getting a Mortgage Refinance Loan should not be ...

Mortgage Refinance Loan - How to Get Approve - OpEdNews.com

CNN -- Brace yourself -- there's actually some good news about the economy. Now may be a good time to refinance, a mortgage expert says. The economic news may be grim on many fronts, but mortgage rates are low. Now may be a good time to refinance for ...

Tips for refinancing your mortgage - CNN

If you know you're headed for trouble with your mortgage or you already are there, brace yourself. It's a mess for borrowers trying to renegotiate the terms of their mortgages right now. That's despite a highly publicized, $75 billion, Obama ...

To refinance home loan, navigating paperwork and system takes patience - Fort Lauderdale Sun-Sentinel

COLUMBUS, Ohio - (Business Wire) Residential Finance Corporation (RFC) ( http://www.residentialfinance.com ), a nationwide mortgage lender specializing in refinance, has been named as a finalist for this yearâ€™s Stevie Award for Sales Department of ...

Mortgage Lender Residential Finance Corp. is a Finalist in American ... - Earthtimes

Can you refinance your mortgage loan when you owe more on the property than it's current home value? Your mortgage lender may be more likely to grant you a mortgage loan modification or refinance since the federal government has been offering ...

Refinancing when property value falls - Chicago Tribune

Want to ReFi but can't figure out just what the value of your home is? If you have a friend or acquaintance that is a Realtor the best bet is to have them search the Comps on their MLS access. Other than that you can use www.zillow.com or www ...

Mortgage Mania and Mortgage 101 tips - San Francisco Examiner

Detroit, MI - The volume and incidence of mortgage foreclosures across the country during the past few years is unprecedented. Foreclosures have brought heightened attention to the crisis in the form of federal and state legislative efforts to help ...

Commentary: Home loan modification good for all - Daily Reporter

Just as signs of recovery in the local housing market have begun to emerge, a spike in mortgage rates is slowing refinancings for many valley homeowners and complicating purchases for some buyers. But experts say homes in the low and middle price ...

Spike in mortgage rates slows refinancing in Silicon Valley - San Jose Mercury News

Mortgage rates have surged over the past month, stifling the mini-boom in refinancings and putting Fed Chief Ben Bernanke's plan to kick-start housing in doubt. A short time ago a 30-year fixed mortgage below 5% was the rule. And the chart (data ...

What is behind the recent rise in mortgage rates - San Francisco Examiner

"To refinance, or not to refinance, that is the question." Though your mortgage is not exactly Shakespeare, it can be as important to your financial life as Shakespeare is to literature. The news has been filled with every conceivable horror story ...

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Best Mortgage Refinance Questions and Answers

Open Question: How can I refinance my home?

My husband and I have a 30yr fixed conventional home loan. We bought our house two years ago in January and paid no money down. Our monthly payment is $1840 and it's killing us! How can I refinance - I don't want to use our same mortgage guy b/c I feel like he pushed us into this - I know it was ultimately our decision, but he kept saying it would work, etc. and we didn't even know what our monthly payment would be until the night the old homeowner accepted our offer - it was our first home and we were clueless! I don't know where to begin in this process... any advice is greatly appreciated! more

Open Question: Does the Obama Refinance Stimulus Package only apply to upsidedown mortgages?

I recently applied for the Obama Refinance Stimulus Package through the Citibank Hardship Assistance Program for my mortgage. Since I'm medically disabled, my total income is only $919.00 per month, and I owe $60,000 on a condo property valued at $120,000 at a 6.75% interest rate on a 30yr fixed rate loan. I have never ever missed a payment and have a reasonable credit score. However, since I'm not upside down on my mortgage plan, Citibank tells me that I don't qualify for the Obama Refinance Stimulus Package. Are there additional Obama programs which may still apply to me? Other people with double my income and double home values who default on their payments are getting lower interest rates than me through the Obama Refinance Stimulus Package. Yet, I'm told by Citibank that I don't qualify for the Obama Refinance Stimulus Package because I'm not upside down on my loan payments, even though I've never ever been late or missed a payment. Is there no help for me? more

Open Question: Mortgage refinance help?

Hi All, I am trying to help my mom out but I'm not sure where to go and what to ask. Her mortgage is on a 5-1 ARM and she is currently on her ARM which will expire again in December of 09 (6 months). She refied at 5.25% 5 years ago (with Wells Fargo) but it went up to 6.5 with the ARM. She currently owes 122k with an estimated value at 215k. She has always paid her mortgage, never late and has excellent credit. However the challenge is that she was recently laid off and is receiving unemployment. I checked into the HASP (home affordable refinance program) a bit and it doesn't look like she can qualify for the refinance but potentially the modification? but again I am not sure if that will help as she is on an ARM. Oh and I have verified the loan is not guaranteed by Freddie Mac or Fannie Mae. P.S. This is a manufactured home placed on a foundation with land if that makes a difference Any advise would be greatly appreciated Thanks Gordon more

Open Question: Why do all those mortgage refinance ads include videos of women doing aerobics or tummy crunches?

Home values = toned abs? And I thought *I* was surreal.... more

Open Question: Add my self to the tittle of my parents house.?

my parents and i bought a house about 13 years ago .. three years after my mother removed me from the tittle ... I still live with them ... I got married and had children ... have been paying half or sometimes more of the mortgage ... i need to add my name to the deed or titlle .. i am not sure what is the difference .. my parents have refinance twice i belive for my brothers ... appaently I am the one who is getting screwed in all of this ... that is why I need to get on the tittle .. so if my brothers come again trying to get monie out of the house I would know because they would need my permision to do so .. also if they ever decide to sell i can get some of this monie ... (my brothers do not live in the house is just my parents and my family ) 1 .. how to get my name on the property ... with out inhereting the outstanding monies owed to 3rd parties (is that even possible) 2. is this worth doing ??? I think the house is worth right know about $300/ and what my father owes on cc or loans is about $80 / ... and probably in the house there is a lot still in the pricipal. Please advise.. Thank you for your time ... My mother removed me becuase i got merried and she tought that i was going to do her wrong ... and i am still here because they cannot afford to pay the mortgage by them selves ... i have invested a lot of monie on this house and the way i see it ... this if for my family (my kids future) and I do not want for my brothers to come and take advantatage of getting monie out .... becuase I am the one who is paying for this property basecly ... After researching the inforamtion on the tittle ... they signed for me and my brothers ... i requested copies of the title appraisal and all documentatin of the hosue ... and that is not our signature (brothers and I) apparently this was done by my father or mother ... the thing here is that my father was the one the told me to look into this ... because if anything goes down ... i am the only person that can make the payments on the mortgage ... my parent are old and eventually will be moving back home "Mexico" ... and even if they signed for us ... I will not presue this ... is this even worth it ... more

Open Question: Who should I Refinance my home with?

Can any one tell me who would be the best to refinance my house with? Bank or mortgage broker? Or does any one know who has the best deal. more

Open Question: How are they defining 'Credit Crisis' here?

http://www.risknews.net/public/showPage.html?page=862163 Risk News: General News Credit crisis did not start until October 2008, Fed research finds 11 June - New research from the US Federal Reserve Bank in St Louis, Missouri, has found US banks did not begin to cut credit significantly until the last few months of last year, more than 12 months after the generally recognised start of the financial crisis. Although the subprime mortgage crisis started in mid-2007, real estate, commercial and individual lending continued to expand until the third quarter of 2008, albeit at a slower rate, wrote economists Silvio Contessi of the St Louis Fed and Johanna Francis of New York's Fordham University â€“ reports from US commercial banks "do not show clear signs of distress in the commercial and industrial loan segment of the banking industry, at least through the end of September 2008". Meanwhile, falling mortgage rates through most of 2008 meant real estate lending continued to grow as borrowers refinanced existing mortgages. The picture only changed in the fourth quarter of last year, when net credit contracted sharply â€“ largely the result of lower lending at the country's largest banks, either because of tighter credit standards or lower demand. "The relatively smaller banks show little impact from the recession that began in 2007. Their credit growth was positive and comparable to, if not larger than, previous years," the study commented. The study also found increasing use of previously arranged credit lines, suggesting 2008 saw a drop in new loans arranged that was masked by the tapping of credit facilities arranged before the start of the crisis. Credit was also becoming more difficult to obtain from other sources such as syndicated loans and commercial paper issuance, prompting commercial borrowers to rely more on banks. In the fourth quarter, credit contracted at a rate last seen in the 1990-91 recession, Contessi and Francis wrote. This does not bode well for the recovery of the financial markets, they add, drawing on a comparison between the current recession and five recent recessions. The early stages of this recession looked similar to the 1980 and 1981-2 recessions in the US, implying a rapid recovery in credit, but "in the 1991 recession, however, the decline in credit expansion and the increase in contraction were persistent, lasting for two years into the recovery". The authors added: "It is possible further quarterly data will reveal a creditless recovery", in which credit remains difficult to obtain even after the economy starts to grow again. See also: US Congress: Banks may need more stress tests Banks repay $68bn in Tarp funds to US Treasury FSA stress tests banks for four-year downturn Defaults to rise as IMF predicts slow recovery Alexander Campbell more

Open Question: US HISTORY HELP ANYBODY?!?!?!?!?

1.) Which of the nations having colonies in the New world allowed their colonists input (albeit limited) in government proceedings? France and England Spain and France Only France Only England 2.) Which statement is NOT true regarding religious tolerance in the new colonies? Their name "Puritans" derived from their goal to purify the Anglican Church (the Church of England). Some Puritans wanted to leave the Anglican Church and called themselves Separatists. The Mayflower carried the Puritans to Virginia where they became known as Pilgrims. The Pilgrims established the first Thanksgiving to credit God for blessing the harvest. 3.) The increasing prosperity of the New World colonies was primarily due to mercantilism, resulting in a balance of trade. the Staple Act. the Navigation Act of 1696, which was legislated to make the mother country and the colonies rich. the inherent wealth of the land. 4.) Which of the following is NOT one of the articles in the Bill of Rights? freedom of religion freedom of assembly right to privacy right to a fair and speedy trial 5.) Which of the following statements is NOT true regarding the Dred Scott case? President Buchanan anticipated that the case would be decided in favor of abolishing slavery. The court detemrined that because he was black, Scott was not a citizen and had no right to sue. The Courtâ€™s ruling also effectively permitted slavery in all of the countryâ€™s territories. Supreme Court Chief Justice Roger B. Taney was applauded by the abolitionists. 6.) The Corollary to the Monroe Doctrine was created by (the) Congress. President Wilson. Federal Trade Commission. President Roosevelt. 7.) The First World War was said to be the war to stop bullying by more powerful nations. war to stop Germany from imperialistic advancement into other countries. war to end wars. war to establish the United States as a world power. 8.) Which New Deal program/agency refinanced mortgages of middle-income home owners so that they did not lose their homes during the Great Depression? National Industrial Recovery Home Owners Loan Corporation Federal Emergency Relief Administration Emergency Banking Act 9.) The United States entered World War II after what attack? Midway Pearl Harbor Coral Sea Bataan 10.) Trumanâ€™s 21-point plan for reform was called the Plain Fare Fair Deal Second Fair Deal Second New Deal more

Open Question: Refinance Funding Delay?

Hello, We've been trying to refinance our condo mortgage since March when the rates were really low. However, my broker kept telling us that even though we have all documents prepared and the loan has been approved, there is a long line of closings, and we can't lock in the rate until we've been assigned a closing date because the banks are having difficulty providing funding necessary for closing. Now, 3 months later, the rates have gone up and it's no longer economical for us to refinance. I would like to know if there is really a funding delay going on and what can I do now (if anything)? FYI, I live in New Jersey. Thank you! Carrie more

Open Question: Minor signed mortgage?

I will try to make a long story short. I got married when I was 17 (bad idea). In 2001 we divorced and my ex husband was awarded the house (by mutual agreement and he was court ordered to "try" refinance but he could not because of his credit). In 2006 he defaulted on the loan and the home was foreclosed. I have tried in vein to get this off my credit report. My question is was my signing the mortgage at 17 (I was married at the time the mortgage was signed) even legal since I was a minor? Is there anyway I can fight this and get it off my credit? I have had a perfect rental history for about 8 years now but I can not BUY a house because of this foreclosure, prior to the foreclosure I couldn't get a house because it was slow pay 120 days late (sometimes more). As most of us know rental history can not go on a credit report. Someone please help I want my own home for me and my kids! more

Open Question: How to Survive this Black Hole of Divorce, Mortgage, Debt?

Sorry so long. At this point, I will listen to anyone. Brief Outline: 1) Divorced - ex refinances house adding almost $90K, legal battle of how and why this could happen, but nothing can be done to change current mortgage or his paying debt 2) have house I'm living in inspected' $75K structural flaws discovered, structural engineer confirmed, tried to sue builder but not in business, got appraisals, talked to real estatee agents, wrote & talked to politicians and charities but no help available.No expected proceeds from sale, 3) ex did not pay spousal and child support for 3 1/2 years . which will not be paid back to me. 4) In collections for $30K Credit Card debt of living expences during proceedings. Which lawyer said would be paid back to me by ex But It Will Not. Filed complaints about my lawyers but being a stupid lawyer is not malpractice 5) Divorce is final, Everything possible has been done to examine and challenge the above rulings. 6) Decreased all expences:. am trying to save for car, mortgage modification Denied. 7) Increaed Income: All jewelry sold, household items and clothes sold on ebay, took part-time low paying job, Due to health Problems can not work any more hours 8) Going Bankrupt: papers being filed right now Does anyone see a way to survive this? I have 3 kids, insufficient equity to start over, no expected incease of income and will be getting an increase in medical expences. I'll skip all the personal Dramas, but EX claiming no money still travels, has had 2 cars, gambles, has $600 phone and every video game console available. forged my 1040's to get a bigger alimony deduction. etc. etc. This Peter Pan is 55! more

Open Question: what can you do if your homeowner taxes go up because of errors by mrtg co and title co that increase your not?

errors were made either by mortgage co or title co or mortgage broker at signing or somewhere, 6 mo into our mortgage our taxes were increased by 238.00 per mo. since then our credit has gone bad, had to repo 5th wheel cause we couldnt keep that note up, wouldn't have quit job if we would have known house note was going to go up that high. we asked before we signed talked to our mrtg broker what our payments were going to be, and they were what he said at first, but then it all changed. we are so stressed out we dont know what to do or how we can get help if it is even available. no one will refinance because we have no equity, and we dont qualify for loan modification, we can only make our house notes, the necessitites and we have bill collector calling because we had to let 5th wheel travel trailer go back, we had been paying on it for 7 years, planned on keeping it but we could not, other extenuating circumstances. more

Open Question: My fiance and I are breaking up. We own a house jointly in PA...?

...near the Poconos. I have been offered a job in Europe and will be relocating there in December. She wants out off the house mortgage of which we are both signatories, but I want to keep it. Unfortunately, I do not have a job right now to refinance and drop her name off the mortgage. She is not willing to wait for me to start my new job before disposing off her interest in the property. What options do we have? more

Open Question: Is professional mortgage source company a fraud?

does anyone have any reviews about Professional Mortgage Source LLC? i got a letter from them for a chance to do a streamline refinance for a lower rate. but i know that now a lot of company are taking the new lower rates for fraudulent use. so are they secure or just trying to make money. anyone used them or know about them. please help more

Open Question: Can you walk away from mortgage refinancing without a fee, because they did not lock in the rate?

A mortgage broker friend was helping me with refinancing my mortgage for a lower rate and 15 years. I received the good faith estimate and truth in lending and decided to refinance. I filled out all of their financial paperwork and signed the documents and provided financial history information. Now he tells me that the "assistant" did not lock the rate and he is giving him another week to try to secure it at the rate in which we agreed to move forward. Do I wait the week and see what happens or tell him forget it b/c this seems like dirty business to me? Since I signed documents to move forward can they charge me? And can I have the documents back that I provided for security of information reasons? Really need to decide by the end of this week. Somebody's advice would be really helpful!! more

Resolved Question: Which one is the most likely to happen?

1. Swine Flu Second Wave: Typically, influenza outbreaks come in waves, getting worse with each one. The very ease with which we seem to have survived the first wave of swine flu may make us vulnerable to a horrific second wave. 2. Commercial Real Estate Collapse: Various commercial real estate deals face trillions in refinancing obligations over the coming years. But the market is practically closed, ensuring massive bankruptcies and restructuring. Why are lenders so freaked out? Because existing loans are going sour at a pace unlike anything we've seen in history. Because of that, even commercial real estate properties with strong cash flows are finding financing extremely difficult to come by. 3. The Option Adjustable Rate Mortgage Explosion: Anyone referring to the "subprime crisis" has got to get with the program. The subprime wave of defaults is basically over. Now the question is, what about all the other types of mortgages? You know, Option ARM, Alt-As and of course, good old fashioned prime mortgage. The big wave of Option ARM resets has yet to come, and given the drop in home prices, refinancing won't be realistic. Let's hope the homeowners can afford their new monthly payments. 4. Global Food Crisis: As we saw last year, the global food supply teeters on the edge of adequacy. Any serious shock--floods in the Midwest, a war in Asia, social unrest in China, political upheaval in Thailand or Egypt--could result in shortages in countries that import large amounts of their food. 5. Israel Bombs Iran: The Obama administration's openness to the Iranian regime may have the perverse effect of emboldening its nuclear ambitions. Very likely, the fears of the nuclear Iran are over-stated. It would probably behave like most members of the global nuke club, cowed by its own destructive power into behaving responsibly. But Iran isn't the only country to worry about in the region. Israel may not be willing to tolerate a nuclear armed Iran, and may choose to strike out to destroy Iran's nascent nuclear capabilities. This would obvious raise tensions throughout the Middle East. At the very least, oil prices will likely spike and remain elevated following any military action against Iran. This, in turn, will slow the global economy. 6. A Wave of Municipal Defaults: Historically, cities and states don't default on their loans very much. But as Warren Buffett pointed out, historical results don't mean jack because muni insurance wasn't around. Unless it gets a bailout, California may go bankrupt, causing the muni market to seize up, bringing public works and spending to a halt, kneecapping GDP. At that point, with no ability to borrow, the other states will rush to default themselves, sparing their taxpayers any more pain. 7. Another Bank Run: It seems unlikely, given the government's implicit guarantee of the banking sector, but it's always possible that investors or lenders could lose confidence in one of the banks again, prompting a financing run a la Bear Stearns. If this happened, we'd be back to square one with all the confidence and bailouts since Lehman's collapse -- only, the government would have fewer bullets left in the gun. 8. Runaway Inflation: The Federal Reserve seems confident that it can "land the recovery." Is it right? There's good reason to be skeptical that the Fed will be able to reduce the monetary base before it floods out into the economy, driving up prices and destroying savings. For one thing, the Fed has never really been very good at doing this. By the time the Fed realizes that inflation is taking off, it may be too late. 9. North Korean Missile Launch: Wee dictator Kim Jong II has lulled the world to sleep, performing missile tests on a seemingly daily basis. What was once a cause for alarm now barely merits a bulletin on CNBC. In fact, the dollar has rallied on the nervousness. But his neighbors in China, South Korea and Japan are freaked out and an actual war, or genuine provocation, could wreak havoc on far eastern trade. This might cause investors to flee towards the dollar, but it would be terrible for markets and economic activity. 10. Chinese Financial Crisis: Most economic discussion of China these days is about how dependent the US government has become on China buying Treasury bonds. But China has lately learned that its own economy is dangerously leveraged on foreign demand for Chinese manufactured goods. The global downturn has helped expose the fragility of the Chinese economic miracle, and worse might be coming. A collapse of profits in China could very well spark a banking crisis, much like the collapse of real estate prices did to US financial institutions. Very little attention has been paid to the fragility of the Chinese financial system, which is dominated by large, slow, non-transparent, often corrupt state-run banks and centralized decision making. Slowing exports could be the tide that goes out and reveals whi more

Voting Question: I have a 1st and 2nd mortgage should I refinance into one?

My 2nd mortgage will be paid in 3 years, I have been paying an extra 100.00 a month to get it paid off quicker. Would it be wise at this point to combine the two or wait until I pay the 2nd off.even though the interest would be a lot less to combine them. If I combine the two it will make my value close to the total loan and will take years to build up equity again. I am worried if something would happen to me that my daughter would get stuck with a mess if the house could not sell for what is was worth if I refinance to save interest now. I keep thinking I would be better off to wait and refinance later on just the 1st so I would be refinancing and also havin equity in my home because I would not be borrowing less that what the house is worth. more

Voting Question: Where can i refinance my 2nd mortgage? w/out my 1st and 2nd?

I have a 2nd mortgage for 50k. when i purchased my home 2 years ago my broker gave me a 1st mortgage for 300k and 2nd mortgage for 50k, told my it was better then 1 big mortage that i would have to pay PMI. I was also told to refinance it in a year or2 so here i am now but my bank will not becuase my house only appraises for 390 and i owe a total of 350k. what are my option i dont want to refinace both mortages. the second mortage is 50k 15year ballon Its 459 a month but only 60$ principle. more

Voting Question: Countrywide "B O A"won't talk modification!?

I've been trying to do a home modification thru there mortgage councilor's Unfortunately they don't want to do a loan modification, just a refinance. That wouldn't be so bad but to get a good rate there asking for two and half points and add so many fee's that to get the refinance II'dhave to pay charges etc etc of $15 thousand. This doesn't seem right as they seem to be getting as much money or more for a simple refinance as they are the mortgagor for the property? How can they get away with this? more

Resolved Question: Trying to refinance home for last 6 months, now mortgage broker says loan is dead. Ripped off? what can we do?

In the middle of January my new husband and I began the process of refinancing our loan. We live in Maryland and we began working with a lender in our area. We paid for an appraiser to come (their recommended appraiser) for $350, as well as paid $200 for some fee that Bank of America charged. The mortgate broker came over to our house and we signed all of the necessary papers about our refinance. Over the next 5 months they have constantly asked us for paperwork that we have already submitted over and over again. Our W2 forms, our bank statements etc...they blamed the bank for losing this paperwork and so we have submitted these items multiple times. Also, they would always say "we're pretty sure you'll be closing this week" Today we received a call saying that our loan is dead, even though just last week the broker told us that he had received an extension on our closing and we should close within 5 days. He said our loan was dead because our appraisal was over 6 months old, which it is not. He said the title company can at anytime throw out the appraisal if it goes past 6 months. The broker is now saying he cannot get our money back, but if we recommend him to other people for their mortgage, and he makes money, he will give us our money back. He keeps on making up excuses on how my credit score is too low, even though before he said it was fine. He also said I would have to pay a $100 collection off of my credit report which I did immediately, and now he's saying that's a problem. It seems as though they have tried to make this go for as long as he could and now that there is nothing else to ask for, they are saying the loan is dead. What is going on, can we take legal action, what can we do!??! signed, FRUSTRATED more

Voting Question: need to refinance is this a good idea?

My husband and I bought our first home last September and two new cars back in 2007 when we first got married. We owe about $23,000 on both cars and $81,000 on the house. My husbands income is $3000-$35000 depending on overtime and extra weeks. We are adding a third bedroom to our home and a laundry room and we're planning on putting it on the market for $130,000, we've already spoken to our realtor. I know that this is a horrible market and we'll probably get less than that, but we need about $120,000 to pay our cars off and our $7500 first time home buyers credit. We don't want to sell unless we pay these things off because it will give us a fresh start with no debt and we can afford a bit of a bigger house, but still stay around $100,000-$125,000 so our mortgage doesn't exceed $1000 a month. Anyways since the market is so bad we've talked about possibly refinancing our home after the addition and taking $23,000 out and paying our cars off and staying in our home until next summer when hopefully the market will pick up a bit and we can try to sell than and make a bit of a profit. Would this be a good idea? This is definitely not a home we are planning on living in for more than a few years. We bought it as a foreclosure to fix it up and we're done everything to the original portion of the house and are ready to do this addition which will cost us about $4000 since my husband is doing all the work him self accept for the electricity. The reason that we want to pay our cars off is because we could get a lower rate since we are currently paying 7.25% for both cars and 6.25% for the home. We currently pay $500 a month for both cars, and $657 for our home. We're hoping to keep pur mortgage around $800-$850 and put the rest into savings. Also how would I go about refinancing? more

Voting Question: need to refinance is it a good idea?

Voting Question: My ex agreed to sign a quit claim on our marital home and the judge signed the divorce. Ex wont sign & deliver?

Our divorce was final 18 months ago. My ex is now taking me to court to force a refinance, but without the quit claim the mortgage company says they cant help me. Doesnt he have to follow the orders of the divorce and sign the quit claim deed? more

Voting Question: How do we refinance our HELOC without refinancing our 1st mortage?

We owe on our 1st mortgage is $52,000 at 6.25%, and our HELOC is $105,000 at 8.19%. Fixed. The estimated value of the house is between $110,000. to $150,000. I would like to combine and lower my interest rate, but if that is not possible, how can I lower my HELOC. I would at least like to lower my $730.00 interest on the HELOC. What are my options if any? Thanks! more

Voting Question: Refinance with HOPE government program?

My wife and I are looking at all options for us to somehow refinance or adjust an upside down mortgage on our home here in California. We love our home & neighbors and would like to stay in it. Ive read too many stories where people have spent thousands of dollars with lawyers, only to lose their money becuase nothing happens in the long run (KFI-640am in Los Angeles has one shady advertiser with a D- rating on BBB). Ive done a bunch of research... there doesnt seem like too many options out there besides going directly to my mortgage company and pleading for help. Which through phone calls have said they arent interested in helping us "at this time". The "Obama Plan" doesnt cover my situation since my mortgage is upside down too much. Lastly, the HOPE program reduces the loan amount to the current house value, then does a refi, but also requires the home owner to give up 50% of any future equity in the house. The governments website of the HOPE program does not have much information on it. One glaring question I have that no one can seem to answer is: What if we pay off our loan within 30 years... do I still owe the government 50% equity after I pay off the loan (and if I sell the house)? Does anyone have any good info about the HOPE program or any other options available to me? Any info would be greatly appreciated, thanks! Ryan... do you want to know why I'm looking into this? BECAUSE I CAN ! Because the stupid politicians made these programs. The same stupid politicians that raped our country and gave all of our money to the Feds, to the Chinese, and to everyone else. The same idiots that nationalized our private companies. So if we never sell, we never give up any earned equity? more

Resolved Question: Leaving names off of a homeowners insurance policy?

My ex and I are divorcing and he MAY be keeping the house. Currently the deed is in both his name and my name and we of course have a current homeowners insurance policy. I am moving out of the house because I can't afford it at the moment and he is taking it over, however I intend to stay on the mortgage until he is able to obtain refinancing in his name only. At that time I will sign a quit claim for him...but not until then. I move in a few days and suddenly I have new homeowners insurance companies coming in to take photos of the house. Can he get a policy in only his name if the deed and mortgage are in both of our names? more

Resolved Question: how are you suppose to pay your mortgage if the bank dont accept partial payments?

Ok.. I had my mortgage ready and then my a/c went out.. so I had to spend some on that.. but I still wanted to put as much down on my mortgage as I could to let them know Im trying and then pay more as I got my next paycheck. Well Chase Bank wouldnt even let me! They said we dont accept "partial payments" if you cant pay it all then you just cant pay!.. so then I rack up late fees and other stuff because they wont even accept a little! What can I do.. or what is a good company that will refinance and help you more? more

Resolved Question: my question is regarding refinancing an irrevocable trust?

I am the trustee for an estate in Ca. the trust is now irrevocable because my ex passed away. i want to find someone who can refinance the mortgage and allow me to take out some of the equity. more

Resolved Question: Where should I turn to get help with mortgage / finance troubles?

About 6 months ago everything was going great. My wife and I had steady decent paying jobs and combined we were making about 75K a year. Then she got pregnant and our lives really felt like it was going in the right direction. Then she got laid off. Uh Oh. Now money is running out quickly and in about a month our savings we be drained and we wont be able to make our house payment anymore. It is very hard to come up with the money to pay for a $1300 house payment, $650 worth of car payments, plus credit cards and utilities. We have cut back on just about everything. No more cable or internet, 1 cell phone. I see advertisments everyday for mortgage help and they make it sound so easy. Our problem is we owe more on our house than it is worth. I cant seem to find a company that will help us refinance unless we owe less than it is worth. We even called our bank to talk to them about that new government project that helps people keep their homes, they wont even talk to us until we start missing payments. I would rather it not come to that. Our house is valued at 133K and we owe 140K. Does anyone have some ideas or know of a website or anyone in the Dallas / Fort Worth area that can help with our situation. By the way my wife has applied for over 40 jobs with not one single hit. We pray a lot and I do have faith that God is going to take care of us, but I would sure like to have a plan just in case. Thanks more

Resolved Question: How long do I have to reinvest capital gains from the sale of my primary residence?

OK, if that sounds easy, let's see how many variables I can throw in. I bought a Fannie Mae foreclosure house last September and undertook a host of extensive renovations myself. I couldn't finance the house and renovations through a mortgage, so my parents co-signed a line of credit that needs to be rolled into a mortgage before this September. After spending seven months subletting an apartment during construction, I moved in to my house. I attached utility bills and building permits to my '08 tax return to document that, for purposes of the first-time homebuyer credit, my project should be considered a site-built house with the applicable date for the credit being the day I moved in--I got the $8K grant as if I'd made a 2009 purchase (have to repay if it's not my permanent residence for three years). I'll be deploying to Iraq later this summer and am rushing to convert my loan into a mortgage before I leave town for pre-deployment training. But the refinance is going to cost me over $7000!!! I'm not happy about repaying all the fees I paid during my cash sale closing last year and am considering selling vice the refi. I plan to put the house on the market at a price to net me $15K after sales fees and construction expenses; for various reasons I'll refinance if I can't clear that amount. It is my understanding that if I sell, I would owe the IRS $8000 and roughly 25% of any capital gains (under my reading I don't qualify for home sales capital gains exemptions). However, I would put any money I save overseas and proceeds from this house into another fix-up foreclosure home when I return next summer. a) how can I minimize my tax liability and maximize my funds towards a new residence? b) if I can avoid cap gains tax and the credit pay-back by reinvesting in a new primary residence, how long do I have to reinvest? Will I be able to convince the feds that time spent for military service in a combat zone should be tacked on to that clock? c) I did most of the work, from demo'ing a pool in the backyard, replacing wood paneling with sheetrock, installing hardwood floors, relocating kitchen, etc. with my labor and the help of great friends. If I had bids for some of the projects I undertook, can I expense my labor to reduce capital gains? The profits aren't coming through speculation (not that I philosophically object to that), but through nine months of my blood and sweat. It doesn't seem right that I could deduct paying someone to texture my walls but get hit if I buy the sprayer and do it myself. d) should I be doing anything during the sale or refi to make something else in the process easier? Thanks for reading my novel, and I really appreciate any tips! Thanks for the advice. I'm asking here for ideas, previous experiences and hopefully some sources (I've checked IRS pubs but they, of course, don't expand on all the variables here). I'll be verifying whatever counsel I receive but can imagine some valuable feedback from this community. more

Resolved Question: Refinancing a mortgage, What should I know?

Resolved Question: how to refinance with bad credit, late payments?

ok here's the deal..my husbands work has slowed greatly(yes is do work, smaller check wont cover bills) we have low credit scores in the 500's and have 4or 5 late payments here in these last few months..we are struggling espically with a baby on the way..i just want someone to talk to me and work with me, i have contacted my mortgage co homecomings and they keep telling me to call back the next month and the next month etc.. so i have given up on them helping me..what do i do? where do i go from here? i dont want to file BK nor foreclose..please someone help more

Resolved Question: how can I remove ex from my deed? she is agreeing to do so!?

My ex and I are is process of divorce. She is buying a new house and I am lucky she wants out of this one. Is it possible for us to get her off my deed and mortgage without refinance? more

Voting Question: GMAC mortgage denied our request for a loan modification; said we were not eligible to Obama's MHA program,?

but GMAC is researching other options for us to lower our mortgage payment. What other options are there besides refinancing? more

Voting Question: What is the best thing to do when you're so far underwater?

So my grandparents have had this house for more than 40 years, and have been collecting so much debt that we dont even turn the ringer on for our house phone cuz of all the collections calls. There is a 99% chance we will have to move in a month or 2. :( The house is a run down piece os sh*t- but its home, its been a safe haven to me and the whole family forever- they owe about 450,000-500,000 on the house (adjustable rate, 2nd mortgage, and I believe tehy refinanced a couple times- so too many bad choices) The house is worth less than like 100,000 a 3bed 2 bath empty delapidated pool, needs paint (in &outside), needs complete new plumbing - It is just so delapidated and has not had much maintenance over the years. What is the best thing to do? Moving out has recently become reality, but is there anything that we can do to save our home? **Oh yeah and then mortgage is 1600/month to be payed from 2 social security checks, and the amount that I pay covers utilities and whatnot** more

Voting Question: Appraisal value during refinance would effect future sale price of the home?

if I refinance my mortgage with a lower appraisal value then actual house purchase price, will that give any impact if I want to sell that house in the future? I bought this house around 15 months ago for 265K and now I am trying to refinance this house, apparently lender appraiser gave 15K less value. I disputed it,not sure if he come up with good value. I am sure my neighborhood didn't decreased any values, because of the few facts like recent sale across my house with same area sold above 10% purchase price, and couple of my friends who had same floor plan as my house did refinance(with my lender), their appraiser value showed up best price.So its all the appraiser fault who ever did for house. my Question is If I move forward to do refinance by bringing more cash, I am kind of nervous about future sale price of my house. Is there going to be any sale price impact for my house with this lower appraised value? more

Voting Question: I am looking to lower my current mortgage interest rate.?

We do not quality for refinancing due to the bad economy casing a strain on home values. We are current on our payments and have good credit and are wondering what the best ways are to negotiate with our lender. We also currently pay PMI and are wondering if there are other ways to get rid of this without refinancing. more

Voting Question: I need to refinance my home but my credit score is less than 600. Is there any help for me out there.?

I need to refinance my home but i have a credit score of less than 600 and i have had some late payments on my mortgage due to a recent divorce. Is there anyone who can help me put there more

Resolved Question: low ball appraisal on refinance in stable real estate market?

We are located in Greenville, SC. Prices here are stable. We bought our home about 9 months ago. It is designed by Don Gardner, has 3 bed, 2 bath...2400 square feet with a half finished full walkout basement. The house was new when purchased and was on the market for 10 months and builder was eager to get rid of it. We purchased it for 250K and the list price was 280k. Builder and agent claim we basically paid for the costs on the house...may not be entirely true but it is probably close. Anyways, when house was appraised for purchase the appraiser used the house next door for one of the comps...similar house but finished basement sold for 290+. So we tried to refinance with our mortgage company and the appraisal came back at 200K. Same exact appraiser. The comps she used were of homes a few streets from us. They were the same size but 8-10 years old and without basements. Without a doubt not very comparable to the new home we purchased 9 months ago. Seems kind of screwy to us and it looks like we are out 500 bucks. We tried to send in other comps to argue the appraisal and they were rejected. We feel like they are doing this to keep us at the higher rate? Any thoughts? What is funny is that she has the same statement in both of our appraisals "home prices in this area stable" and yet now she says our home is worth 25 percent less. BTW there are no foreclosures in our area. The builder just sold like 5 new houses in the neighborhood and is building some basement houses so we are thinking of trying a local mortgage lender....smart move? more

Voting Question: Will my refinance be canceled?

In April my husband and I applied to refinance our home loan. We locked in our rate and sent in our application right away. Then we had to hound the mortgage company with multiple emails and at least 4 phone calls (all unanswered until I demanded to talk to someone). They finally sent the documents for an at home closing (have all the paperwork signed and notarized my us) the day before our closing. This was really annoying since we only had a day and a half to review, sign, and notarize these document. Then we brought the paperwork to the notary and signed it all in front of her. When we reviewed the paperwork we noticed that she missed two stamps and a signature (this is our fault for not checking, I know!). We could not get ahold of her to stamp the paperwork and we sent it in anyway. Now I am really stressing about this. Will this void our loan application? more

Voting Question: Refinance vs foreclosure of ex's house?

Long story, please take the time to read. My ex-husband and I have a home mortgaged in both of our names. We have been divorced for five years, but he is unable (or unwilling) to refinance the home on his own (or with his new wife he married in March). On Friday the wife called me and said that they were contacted by someone who could help them lower the house payments by re-modifying the mortgage to give them a lower interest rate. They were contacted because he has been late on the payments and is a few months behind. The only catch is that I would have to sign the re-modification papers with him. The wife said that if I don't sign these papers, he will have to file for bankruptcy. Then he will keep the house anyways because it is his primary place of residence and the courts will lower the payments to something that he can afford. The thing is, we just signed re-modification papers is November to put the unpaid past due balance back onto the principle so that he would be considered current on the mortgage. And before that in February of last year I loaned him $1400 to help him get current and pay past due payments. When I gave him the money in February, I thought that it would be the end of it, then I found out in September that he had had some kind of surgery and had missed some payments because he had to miss work. So that is when I agreed to sign the re-mod to get him back out of the negative. I thought that when I signed the papers that that would be the end of it. Now here it is only six months later and he still can't make the payments (they are about $730/month now). I have done everything I can to try and help him keep this house. He doesn't want to loose the house, but I don't think he should keep it if he can't afford it. I am not unwilling to sign the re-mod, but how is this going to look on my credit when I go to but a home for my family? I currently live with my husband and three children in my father-in-law's house, rent free. I have all three children (6 year old girl, 3 year old boy, and 4 month old boy) in one room. I was planning on buying a house sometime in the next year. My current husband's credit is not going to help since he filed bankruptcy and has a home foreclosure on his credit from his divorce in 2004. The best solution in my opinion would be for my ex and his wife to refinance the home and get my name off of it all together, but she has bad credit (from her previous marriage) and an unstable work history (she won't keep a job). So my question basically is: Which is better? Having a mortgage already on my credit (one that may be delinquent), or having a foreclosure? Should I sign the re-modification papers or not? more

Resolved Question: What's the difference between home loan modification and mortgage refinancing?

home loan modification vs mortgage refinancing, are they the same thing? more

Resolved Question: What's the difference between refinancing and mortgaging a second time?

^ what it says though I'd prefer a little bit more details, since I'm rather new to it all :/ crappy economy and all. thanks more

Resolved Question: Mortgage Rates Question?

I am in the middle of refinancing my home, but the rates have recently gone up. Are there any signs the rates will drop back down to the rates they were a couple of weeks ago? more

Resolved Question: When are mortgage rates are at a level that would make refinancing a condominum more affordable?

Resolved Question: What are my rights when disputing home appraisal?

We are trying to refinance our mortgage. Our appraisal was done one month ago. The value of our house was estimated 123K below the price we paid three years ago. Our lender is disputing the appraisal but we don't even know what exactly she is disputing. We were told it will take two weeks but two weeks has passed and today we were told they don't know how long it will take. Do we have any rights in this situation? Can the appraiser just take forever to review the dispute? In such situation is our lender obligated to find another appraiser? Can the lender dispute the appraisal without notifying us about the whole process? more

Voting Question: I HAVE TO FORECLOUSE WHAT DO I DO!!?

I HAVE STOPPED PAYING MY MORTGAGE SINCE MAY. I JUST CAN NOT AFFORD IT ANYMORE. TAXES AND INSURANCE ARE OUTRAGEOUS. NOW I AM STARTING TO GET THAT PHONE CALL FROM THE MORTGAGE COMPANY. WHAT DO I SAY? I FEEL TERRIBLE I HAVE THOUGHT ABOUT IT OVER AND OVER FOR THE LAST TWO MONTHS. I TRIED REFINANCING TO INCLUDE INSURANCE AND TAXES BUT THEY SAID THERE WAS NOT ENOUGH EQUITY IN THE HOME. more

Resolved Question: I filed Chapter 7 bankruptcy 2 years ago and have kept my house.?

The lawyer listed my house in the bankruptcy, even though I was keeping the house. I have continued to pay the mortgage for 2 years now. Now that the BK is 2 years old I am trying to refinance. The mortgage company has said that since the house was listed, it is just as bad as a foreclosure, and that I will need to reach out to Citibank (my mortgage company) to have this status removed. Is this possible, and what do I need to say to Citibank to make this happen? more

Voting Question: What kinda lawyer I should talk to about escrow company and mortgage lender who screwed up my good refin rate?

We were refinancing our house and locked in into 4.875% 30 year fixed rate back to two month ago(about end of the March). Just last Tuesday(5/26), my loan officer told me the loan was approved and was forwarded to escrow for signing, and the loan officer wanted me to call the escrow company immediately to set up signing appt. At that time, i didn't know the rate would be expired on wednesday if we didn't have it signed by wednesday nor did the escrow company tell me the rate will be expired on wednesday. So we set up a signing appt on Friday(5/29). On that Friday morning, we called our loan officer to check some other random things and she was shocked and told us the rate was expired and we should have everything signed by wednesday, which was two days ago. And she was shocked that the escrow didn't tell me the rate will be expired on Wednesday. We called the escrow right away and they told me that they did check with the loan releaser to make sure singing on friday is OK even the rate will be expired on Wednesday. And the escrow got a green light from the loan releaser on the signing appt even knowing the rate would be expired on Wed. At the end, the loan releaser and the escrow company were wrong and they didn't know what they were doing while my loan officer was right, a fact means that we had to kiss goodbye our good rate(4.875%) Now, we missed our chance to have this great rate, and we are really PISSED OFF. And we need not only to redo the loan but also won't be getting a good rate like this one we had, we lose about $80 per month due to locking into higher rate(5.375%) today to redo our refin. At this point, we want to file a lawsuit against the loan releaser and the escrow but don't what type of lawyers we should be talking to or even more, what we should do to be compensated. We are not going to live in someone's mistake while they think they can get away w/ this. We want to be compensated but don't know what's the avenue we should take. Any similar experience or suggestions? more

Resolved Question: Can I sue lender for contract breach?

I filed for refinance application with mortgage bank and it got approved and closing documents signed with title company and then on funding date lender start reviewing it again and 2 weeks after closing is complete, lender chooses to deny application. I own a condo ( it is a town house and builder just reported in county as condo) and underwriter approved it as town house since appraiser provided justification that we own land and share in common area so it is a town house. We signed all the closing documents at title company. Two days layer at the day of funding title company told lender that they cannot change title from condo to town house so it went back to underwriter and now underwriter started questioning all different things in condo cert( that was previously approved). Even though it was pure lender error( since we disclosed it as condo in our application) lender made us pay rate extension cost due to this issue. 14 days after closing date, lender denied the application stating that HOA bond insurance is not sufficient per bank's guidelines.Can I sue lender for contract breach? more

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