Homeowners overwhelmed by their housing and other payments may benefit from a loan modification. But they need it fast. How can you get past the red tape and get your file looked at quickly? Continue reading ‘Need a Mortgage Modification Fast? You Can Jump the Line’
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Loading ...If rates have dropped since you received your original FHA mortgage and you can lower your monthly payment with a new loan, well guess what? You can do it with a streamline loan. The best part is that even if your home is worth half of its old value, as long as the new loan balance don’t exceed the lesser of old loan balance or your current balance, an appraisal won’t be required. Even investment properties qualify under some circumstances. Per HUD, Continue reading ‘Home Underwater? Credit in the Toilet? You May Still Refinance an FHA Mortgage’
(3 votes, average: 5 out of 5) Loading ...It’s nearly impossible to refinance your house these days without the lender requiring an appraisal (unless you’re a lucky FHA borrower getting a streamlined refinance–and we’ll talk about that tomorrow). And normally the biggest part of determining what your home is worth is the sales prices of nearby homes. But should the prices of foreclosure and short sale properties be counted when calculating what your property is worth? Continue reading ‘Feeling Undervalued? The National Association of Home Builders Agrees’
(5 votes, average: 4.8 out of 5) Loading ...A story in the LA Times this morning let us know it’s official–what’s been rumored for weeks has happened. The Obama administration eased eligibility rules Wednesday for its Home Affordable Refinance Program (HARP) , lifting the maximum loan-to-value ratio to 125% from 105%–making refinancing available to more people (like us here in Nevada!) whose homes are worth less than their mortgages. Continue reading ‘Now More Under Water Homeowners Can Play the HARP. 125% Mortgages Available.’
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Gina Pogol writes for an online media company about mortgage and finance. In addition to a decade in mortgage lending, she formerly consulted for Experian and other credit bureaus, and worked as a tax accountant for Deloitte. She has a BS in Financial Management from the University of Nevada.
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