Aug 16th 2011 8:00AM
Some homeowners in their 50s are taking advantage of historic low rates to refinance their homes and score themselves a mortgage-free retirement. Mark and Jan Sass, 55-year-olds who live in Cincinnati, Ohio, refinanced their home last week to lock in lower rates, Reuters reported. They switched from a 20-year fixed-rate... Continue Reading »
Jun 23rd 2011 6:00PM
Some homeowners have difficulty holding on to their homes simply due to miscommunication: banks lose paperwork and fail to keep track of mortgage modification applications. The confusion is a result of multiple employees handling the same case. Laws that require a "single point of contact" between the homeowner and one... Continue Reading »
Jun 14th 2011 1:35PM
Listen up, mortgagees: Did you hear the one about the new company that's going to service your refinanced loan? It's just a step away from the Nigerian royal who needs your help and is willing to give you half his fortune for just a few thousand dollars of your nest egg. In a mortgage-related scam currently making the... Continue Reading »
Nov 29th 2010 12:43PM
Due to a refinance gone very wrong, a Florida woman will soon lose the home she bought 13 years ago for $80,000. Imogene Hall's nightmare started when she needed to borrow $50,000 on equity in her Miami Gardens home to pay bills while she looked for a job as a home health nursing aide. A mortgage broker named Johnson... Continue Reading »
Nov 12th 2010 3:55PM
If you're having trouble taking advantage of today's historically low interest rates, you're not alone. Even someone whose been in the real estate business for years as a real estate appraiser, Anthony Lavia, told HousingWatch that he's been denied refis by two banks even though he owes just about 60 percent on his home in... Continue Reading »
