June 13th, 2008
For those in need of a mortgage refinance, the news continues to get worse. Many are finding that their dropping home values are making it nearly impossible to get a mortgage refinance, especially if they do not have enough equity in their homes. In this case, there is not much that can be done to secure a mortgage refinance. Consumers in this position are being encouraged to shop around for a mortgage refinance with many different banks to increase their odds of approval.”The small percentage of borrowers with a 100%/100% plus mortgage do need to consider their options very carefully in the current economic environment to ensure that they do not lose out financially. If you don’t have to sell up, it might be best to stay put for the time being. If you need to remortgage in future months, try and pay as much of your mortgage off as possible now and aim to have at least 5% equity in your property. You should also speak to your lender about its maturity products and work out how much extra it would add to your repayments to revert to your lender’s SVR,” said Pauline McCallion, the editor of the monthly financial publication, Your Mortgage.
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June 4th, 2008
Although many believe that mortgage refinance loans are vital if the housing market is to recover, the latest economic data shows that fewer banks than ever are offering mortgage refinance loans. Consumers that need to get a mortgage refinance loan to avoid a foreclosure are finding that they have few options.
Simon Rubinsohn, RICS chief economist […]
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May 29th, 2008
According to the latest statistics it appears as though consumers are heeding the call to get a mortgage refinance. The main problem appears to be that few banks are willing to offer these deals, especially to those with bad credit. In this situation, experts are encouraging consumers to work with a broker to help them […]
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May 24th, 2008
The US government is acting to help Americans with their mortgage refinance needs. Thanks to a slightly changed bill that originally passed in the house, mortgage refinance help could be coming. New loans would be guaranteed by a government agency, helping mortgage refinance situations and helping people to be able to afford the mortgages they […]
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May 15th, 2008
The democrats managed to push their mortgage refinance bill through the Congress, but many have wondered if all of their efforts were for naught since the president already said that he would veto the mortgage refinance legislation if it did pass. Proponents of the bill are worried that if more homeowners don’t get help with […]
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May 8th, 2008
Homeowners in Connecticut seeking a mortgage refinance will have a lot easier time thanks to a new bill that passed in the state senate today. The bill is targeting homeowners that are risk for defaulting on their current loans and having difficulty finding a mortgage refinance with their own banks or even other banks. The […]
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April 30th, 2008
Although nearly 400,000 people will be able to get a new mortgage refinance with help from the federal government, critics are saying that the program is falling fall short of the needs of consumers. It is estimated that approximately 70% of those who need to get a mortgage refinance will not qualify for assistance from […]
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April 23rd, 2008
Although the Bank of England has taken steps to shore up the housing industry yet again, experts are concerned that the savings will not be passed on to those who need to get a mortgage refinance. To address this, a meeting is planned this week to help convince UK banks to lower their mortgage refinance […]
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April 16th, 2008
Since many banks are refusing to offer a mortgage refinance option to embattled customers, many are turning to the FHA to get a better deal. For many home owners right now, a mortgage refinance is their last option before facing foreclosure. The subprime housing market has been hit the hardest and for these customers, a […]
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April 14th, 2008
With the current situation in the housing market, it is becoming clear that many homeowners will need to get a mortgage refinance if they want to avoid a foreclosure. If you are one of the millions of people who may be affected by the subprime crisis, the time to get a mortgage refinance is right […]
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