Refinance

The FHFA Just Launched a National Campaign for HARP Four Years After the Program Was Created

This morning the FHFA launched a national campaign to educate homeowners about the Home Affordable Refinance Program (HARP). While that sounds like a sensible move to promote the underwater refinancing program, it comes four years after the initiative was originally announced back in 2009. And that’s why it’s a bit of a head-scratcher. Why now? [&hellip

The post The FHFA Just Launched a National Campaign for HARP Four Years After the Program Was Created first appeared on The Truth About Mortgage.

Borrowers with Low Credit Scores Should Shop Their Mortgage More

Most people don’t bother shopping around for their mortgage, despite the tremendous potential savings involved. In fact, nearly half of consumers only bother obtaining a single mortgage rate quote. It’s understandable since it’s certainly not any fun calling a bank to inquire about a mortgage refinance or to set up home purchase financing. So expecting [&hellip

The post Borrowers with Low Credit Scores Should Shop Their Mortgage More first appeared on The Truth About Mortgage.

125% Second Mortgages Are Back Again…

It feels like we’re getting dangerously close to repeating history in the worst way possible. High-risk loan programs that seemed extinct were perhaps only endangered, as evidenced by a new product launch over at CashCall, an Orange County based company that offers both personal and mortgage loans. Yep, they’re offering 125% second mortgages, and no, [&hellip

The post 125% Second Mortgages Are Back Again… first appeared on The Truth About Mortgage.

How to Get Cash Out of Your Home in a Rising Rate Environment

In a perfect world, you could tap into your home equity and lower your mortgage interest rate at the same time. But because interest rates rise and fall over time, this simply won’t always be the case for homeowners in need of cash. This is especially true these days as the great bulk of existing [&hellip

The post How to Get Cash Out of Your Home in a Rising Rate Environment first appeared on The Truth About Mortgage.

Borrowers Don’t Choose Mortgage Lenders for the Best Interest Rate

Conventional wisdom would lead us to believe that consumers go with the mortgage lender that offers the lowest interest rate. This appears to not be the case… In fact, it’s the least common reason why a borrower selects a particular home loan lender, which is pretty shocking considering how much money is at stake. I [&hellip

The post Borrowers Don’t Choose Mortgage Lenders for the Best Interest Rate first appeared on The Truth About Mortgage.

2019 Mortgage Rate Forecast: We Could Be in for a Big Surprise

Just like that another year has passed, well almost, so it’s time once again to look forward to what the next 365 days might bring. Will 2019 be a winner for mortgage rates, or will home buyers and refinancers face more agony like they did in 2018? As always, I compile predictions and data from [&hellip

The post 2019 Mortgage Rate Forecast: We Could Be in for a Big Surprise first appeared on The Truth About Mortgage.