Refinance Archives

With mortgage rates at near-record lows, one bill winding its way through Congress would allow millions of homeowners to qualify for an immediate refinancing deal, no matter what their income, credit history, or loan-to-value ratio are. Sound too good to be true? Maybe not. Read more»

With all the news about underwater mortgages and the depressed housing market, it’s easy to forget that most homeowners do have equity. With mortgage rates at record lows, would it make sense to take money out of your home – even if you don’t need to – for an investment or a rainy day fund, perhaps? The math can make this move look good, but the risks are sobering. Read more»

Q: With mortgage rates this low, we can’t resist refinancing our mortgage. We’ve never done it before and would appreciate a few pointers. Can you help? – A. Moran, Framingham, Mass.A: You’re right about the low rates, and likely right about refinancing. According to the sbup Mortgage Rate Tracker, the interest on a 30-year fixed-rate loan is a low 4.588%. Read more»

More and more U.S. homeowners who were rejected for permanent loan modification programs — despite fulfilling the lender’s obligations — are fighting back. Increasingly, that means taking their cases to court — but there’s a question as to whether they stand a good chance of winning. Read more»

More homeowners are opting for "cash-in" refinancing, a way of improving chances of qualifying for a new loan at a lower rate than the old one. In fact, this can be an excellent investment, beating many stocks and bonds. Clearly, the purpose of any refinancing is to save money. But what exactly is the return on a cash-in deal? Read more»

Is “cash-in” refinancing a smart move? In some cases it is, but homeowners might want to kick themselves later for doing it. If you haven’t heard of cash-in refinancing, don’t feel bad. Until recently, it was a poor relation among refinancing options. Cash-in refinancing involves putting more money into the property to reduce the monthly payment. You could replace an old $300,000 loan with a new one for only $250,000 by coming up with an extra $50,000, for example. Read more»

NEW YORK (TheStreet) -- The Obama administration's "Making Home Affordable" program has had many trials and tribulations since its debut in February 2009. Read more»

Editor's note: This is the first part of a series examining the government's "Making Home Affordable" program and the struggles of homeowners seeking a mortgage-rate modification. Check back Thursday for the second installment. NEW YORK (TheStreet) -- A year and a half after the Obama administration unveiled a sweeping rescue plan for homeowners, surprisingly few have been rescued. Read more»

Most advisers offer this advice to homeowners refinancing their mortgages: Match the term on the new loan to the years left on the old one. But in a crisis, the homeowner can opt to do the opposite, cutting the payment as much as possible and freeing up cash to stave off disaster. Read more»