After realizing that even a modification on a first mortgage won’t help some people if their second mortgage is still too high, the government expanded the Making Home Affordable loan modification program last week. The program was updated to cover second mortgages and liens. I know this was something that a lot of people had […]
To Refinance Or Not To Refinance
I’d like to do a quick rundown of the question “to refinance or not to refinance,” which seems to be plaguing everyone right now. It’s a timely topic for sure. Rates are down and we’d all like to save a buck or two, but when you add in closing costs, how do you know if […]
Making Home Affordable Loan Modification Program Frequently Asked Questions – FAQ
People Are Hoping To Avoid Foreclosure Through Loan Modification This post series started a few days ago with a look at the “Making Home Affordable” program that the Obama administration passed earlier this year. In that post I gave an overview of the program, what it is designed to do, and who will qualify for […]
Making Home Affordable Refinance Program Frequently Asked Questions – FAQ
Lots Of People Looking To Refinance A couple of days ago I did a pretty long post talking about the new “Making Home Affordable” program that the Obama administration passed earlier this year. In that post I gave a 10,000 foot view of the plan, what it is designed to do, and who will qualify […]
Government Making Home Affordable Refinance And Loan Modification Program: Do I Qualify?
The last few days I’ve been hearing an awful lot about the Government’s new “Making Home Affordable” program, which has been set up to help people refinance existing mortgages, or do a loan modification to help them to stay in their house. The government’s website explains what the program is meant to do: Making Home […]
Pay Off Your Home Mortgage Early! Pros And Cons Of Having A Paid For House
After having gone through several financial planning books and a financial planning class, one thing we’ve been considering doing for a while now is paying off our home early. There are a lot of pros and cons to paying off your home mortgage early, and today I thought we could examine what some of them are. […]
Rates Are Low. Is It Time To Refinance? Our Refinance Story
My wife and I have been shopping around lately trying to find a good deal on a lower rate for our home mortgage. We’re currently sitting at around 6.5% with our 30 year fixed rate mortgage. We bought our house right before the real estate bubble burst, so the market was at its highest. Our […]
Myths About The Sub-Prime Lending Mess
In an article over at MSN Money, Rick Newman of U.S. News World and Report talks about the looming recession and the sub-prime loan mess that we’re finding ourselves stuck in. With 2 million home foreclosures possible over the next two years and the economy stumbling toward recession, it’s clear that Washington will enact new […]
Foreclosure Crisis: Is It Really All That Bad?
For the last few months all we’ve been hearing about are the rising issues in the sub-prime market, and how people’s homes have been foreclosed on left and right. From watching the news you would think that just about everyone has lost their home by now. They make it seem like only the wealthy can […]
How To Tell Whether Now Is The Time To Refinance
We’ve been looking at refinancing our mortgage lately. While in that process I came across an article on MSNBC.com talking about who should consider looking at refinancing right now. They looked at a variety of factors, but said that you should consider refinancing if: You have a fixed or adjustable mortgage with an interest rate […]
Why Can’t I Sell My House?
Last summer my wife and I decided that we wanted to move after some careful thought and prayer. The place we were living was nice, but there was some development going on in the area we weren’t happy with (a new road going through behind our house), and we wanted to get out before it […]
Time To Refinance?
An article in the Washington Post this past weekend talks about how the number of people refinancing their mortgages right now are high since the interest rates are at their lowest for quite some time. Lower Rates, Coming Resets: An Opening For Refinancing: “Is it a refi renaissance? Or a fast-closing window of opportunity? Nobody […]
