Posts with tag home equity

Think it's tough to qualify for refinancing your existing mortgage? So does Richard Shin, a Queens attorney with good credit and great income who was turned down by his original lender when he wanted to refinance his 30-year-fixed rate mortgage on his single family brick home to a 15-year-mortgage with a lower interest... Continue Reading »

During this recession lenders are cutting the umbilical cord to the funds as homeowners with a HELOC have a high likelihood of being severely delinquent on their mortgage payments, according to a November 2010 study by TransUnion, a credit management information company. The study indicated that under certain circumstances... Continue Reading »

Home values sank, the stock market plummeted, 401K plans were depleted, and today many of the nearly 40 million Americans in retirement are discovering they may have not been financially prepared for a doomsday scenario. One remedy many Baby Boomers, with their record-high level of home ownership, may not have considered... Continue Reading »

Today's homeowners aspire to ... rent? That's what the majority of respondents to a Harris Interactive poll said when asked about attitudes toward renting. Seventy-six percent of those who responded to the May survey said that they believe that renting is a better option that buying a home in the current real estate... Continue Reading »

About a third of all the people who refinanced their home loans in the last months of 2009 lowered their principal balance, typically by writing a check to their bank for tens of thousands of dollars. It used to be that many people refinanced to squeeze money out of their homes. Higher home values, lower interest rates,... Continue Reading »