Home Refinancing

Home Refinancing

Home refinancing is to take out a new mortgage on a home and using that money to pay off the existing mortgage. Refinancing is popular with people seeking lower interest rates, lower monthly payments or for borrowers seeking to borrow additional money to pay off personal debt such as credit card debt or medical bills.Email [...]

Bank of America announces mortgage transparency initiative

April 27, 2009 Mortgage Financing

Bank of America on Monday announced it is unveiling tools through which homebuyers and homeowners will find greater clarity in the home finance process, called the clarity commitment.The company, one of the largest mortgage lenders in the country, also introduced Bank of America Home Loan Guide, an interactive website that provides customers with the personalized [...]

0 comments Read the full article →

Zillow: Long-term mortgage rates decline to lowest rates of the year

February 17, 2010 Mortgage Financing

Average interest rates for all mortgage types saw significant declines during the week ending as long-term mortgages hit their lowest points of the year during the week ending February 16.
According to the latest Zillow Mortgage Rate Monitor released on Tuesday, the average rate for 30-year fixed-rate mortgages fell to its lowest point of 2010 after [...]

0 comments Read the full article →

Economist: Housing market will rebound first in Western states

April 7, 2009 Mortgage Financing

The housing market may finally start to recover in the hard-hit Western regions of the country, although downward pressures on housing may continue in the Northeast and in the South for the remainder of the year, an economist said.Home sales should hit their turning point by May, with a rebound in the California and Nevada [...]

0 comments Read the full article →

Mortgage rates decline yet again, says Freddie Mac

January 22, 2010 Mortgage Financing

Mortgage rates for all types declined for the third straight week in 2010, further creating ideal rates for those looking to refinance their home in the new year.
According to Freddie Mac’s Primary Mortgage Market Survey for the week ending January 21, the average rate for 30-year fixed-rate mortgages declined 0.07 percentage points to fall [...]

0 comments Read the full article →

Treasury and HUD announce new push to make mortgage adjustments permanent

December 5, 2009 Mortgage Financing

Hundreds of thousands of homeowners looking for mortgage refinancing options through the government’s Home Affordable Modification Program will have their trial modifications made permanent by the end of the year.
According to the U.S. Department of Treasury and the Department of Housing and Urban Development, approximately 375,000 of the 650,000 borrowers who have utilized HAMP and [...]

0 comments Read the full article →

Analysis finds minorities rejected for mortgages more often

July 13, 2009 First Time Mortgages

African Americans who sought a first mortgage or refinancing of their mortgage loan in 2008 were twice as likely to have their applications rejected than whites, while Hispanics were also more likely than whites to have mortgage applications rejected, according to the Charlotte Observer.
The newspaper reported that an analysis of mortgage applications at the country’s [...]

0 comments Read the full article →