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  2. Refinance

Refinance

Bill Offers Renewed HOPE for Troubled Owners

The Obama Administration on Wednesday signed a bill that attempts to inject some hope into the housing rescue program–called Hope for Homeowners.   The original program asked banks to reduce mortgage balances voluntarily to 90 percent of a home’s current market value. The loan would then be refinanced into an FHA mortgage. The program didn’t […]

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Buyers Shouldn’t Dismiss All ARMs

Potential home buyers in search of a mortgage are wary of all kinds of adjustable rate loans these days, but hybrid ARMs can be really good deals even in these times of historically low interest rates, some lending experts insist. Hybrids are “a great product at a great rate,” says Christopher Cruise, a mortgage broker […]

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U.S. to Offer Incentives to Modify Seconds

The Obama administration is announcing incentives today for mortgages servicers to modify home equity loans and other second mortgages. Servicers must agree to modify second mortgages when the first mortgage has been modified. They must extend the term of the second mortgage and match the rate of the first mortgage. Then the government will share […]

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Fixing Commercial Real Estate Is Key for Recovery

The commercial real estate market is the “one domestic factor that keeps me up at night,” Federal Reserve Bank of Atlanta President Dennis Lockhart told the Association for Financial Professionals meeting Monday in Orlando. Lockhart told the group that $400 billion of commercial real estate refinancing was hanging over the market and could slow the […]

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Are home owners getting smarter?

I would hope that fewer cash-outs mean that home owners are realizing that they should not take anything out right now, and not that they couldn’t due to the decline in value. But, see below: Fewer Home Owners Take Home Equity The number of cash-out refinancings fell to a three-and-a-half-year low, Freddie Mac said Friday. […]

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