Home mortgage Refinance options

Home mortgage Refinance options

Q. I was late with a mortgage payment and was told I would have to wait a year from the date of the late payment to refinance my home loan. I m in my second year of a 3.5 percent adjustable-rate mortgage. My credit score is about 690, and I have no other late payments. I wanted to refinance to pull out cash to pay bills and finish a renovation on my home. I ve been told that cashing out equity is difficult these days and that one late mortgage payment is not helping my situation …

Home refinancing mortgage

Home refinancing mortgage

Perhaps your car is approximately to die and you need to have greater reliable transportation or possibly you need an additional car for the son or daughter who s heading away to university. In front of you go out to get one of these brilliant exceptional VA Money-out refinancing loans you need to realize that specific standards must be met to be able to be eligible for this course of action. You ll need not to have already been late on all of your home loan payments in the earlier …

No money down home mortgage

No money down home mortgage

It s possible to get a mortgage to buy your first home even if you haven t saved up a big down payment. Here s where to look. With home prices and mortgage rates as low as they are, a lot of people are considering becoming first-time homebuyers. Unfortunately, many of them are discouraged by a perceived need to come up with a hefty down payment. While the free-money days of the housing boom -- when virtually anyone could get a mortgage with little or no money down -- are long …

Deductible home mortgage interest

Deductible home mortgage interest

Loaning money to your kids can be a great planning maneuver. It is critical that you follow all the formalities to avoid nasty surprises. In the recent Tax Court decision in the case of Christopher DeFrancis and Jennifer Gross it was the borrowers that got the nasty surprise. They borrowed $427, from Jennifer’s mother, Joan Gross, on January 1, 2003. They signed a note and a mortgage. The mortgage was on their residence in Northampton, Massachusetts (A lovely city by the way) …

Government Home mortgage Refinance Program

Government Home mortgage Refinance Program

The Home Affordable Refinance Program (or HARP) is a government program which was designed to help consumers refinance their homes. In some cases, homeowners had difficulty qualifying for loan modifications or refinancing due to dropping home prices. Many homeowners found themselves “ underwater “, a situation where their home loan cost more or almost as much as the price of their home. HARP was setup for consumers who have made all of their mortgage payments, but are unable to …

Home mortgage Prequalification

Home mortgage Prequalification

What is the difference between pre-qualified and pre-approved? People talk about pre-approval letters. Is the letter like a grade in college? Like getting an A is better than a C in history? Spring is right around the corner and with the warmer air comes the thought of buying a new home. Before you begin that journey and get all caught up in the thoughts of kitchen appliance finishes, bathroom tile styles and drapery patterns, you should consider home financing issues. After …