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refinance: Determining Whether to Refinance Your Mortgage - 02/09/10 12:17 AM
With interest rates near all-time lows, it is tempting for many to refinance their home loans. Before you find yourself in the throes of refinancing, you'll need to determine several things.

* Are payments for PMI included in your current home loan schedule? If have you paid, at least, 20 percent on the principal of your mortgage, your lender is required by law to remove the PMI.
* Do you owe more on your home than it is worth? If you probably will not be approved for a refinance loan. The exception is the Home Affordable refinance program. If you … (0 comments)

refinance: When Does It Make Sense To Refinance? - 01/16/10 06:53 PM
There are certain instances where it would be an advantage for you to refinance your home. Even in the midst of a down economy, homeowners are finding lower interest rates and opportunities to incorporate balances on high-interest unsecured debt to a lower interest rate home loan. Some homeowners are finding the benefit of a higher credit rating after incorporating debt into their refinanced home loan, reducing their debt-to-income-ratio. There are other reasons to refinance, however.

Your primary consideration in refinancing your home will be to save money. How can this be achieved? Several ways for savings might be to lower … (0 comments)

refinance: Should You Refinance or Remodel in Today's Economic Market? - 03/03/09 11:40 PM
Refinancing your home is likened to buying your home again but homeowners often choose to do so when the option of a lower interest rate is available. Refinancing can also help you build equity faster. When contemplating whether or not to refinance, it is important to compare the interest rates of the two loans. You should also look at how much equity you have available in your home before deciding whether or not to refinance, especially if you want to do a cash out refinance.
There are also up front costs to consider, such as closing costs. One potential benefit of … (2 comments)

refinance: Tips to Avoid Foreclosure - 02/23/09 01:00 AM
While foreclosure is the last thing a homeowner wants to face, it is an unfortunate reality of our current economic environment. However, by understanding what leads to foreclosure and the process that ensues, you may be in a better situation to act and avoid problems. The United States Department of Housing and Urban Development (HUD) suggests the following ten tips to homeowners facing foreclosure.

1.) Don't ignore the problem- Avoiding the problem doesn't make it go away. The sooner you act, the easier it is to get help based upon the delinquent fees on your account.

2.) … (4 comments)

 

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