Posts with tag refinancing

WASHINGTON -- President Barack Obama is rallying support for his plan to expand government assistance to homeowners, pressuring Congress to help lower lending rates for millions of strapped homeowners. Obama, in his radio and Internet address Saturday, urged the public to "get on the phone, send an email, tweet," and... Continue Reading »

The refinancing market is hot right now. Last week, applications were up by more than 10 percent. But even if you can get approved by a lender--which is no easy task these days--that doesn't mean you should take whatever deal the bank offers you. "Today Show" real estate expert Barbara Corcoran has some strong advice,... Continue Reading »

This may fall under the category of "too much of a good thing," but there is growing sentiment that the historically low interest rates on mortgages are actually fueling the stagnation of the housing market. By keeping rates low, the hope was that more people would be motivated to buy homes. And when that didn't happen,... Continue Reading »

Oddly, the best way to deal with being upside down on your home mortgage may be to just go out and buy a second house. As housing values spiral down and people increasingly owe more on their loans than their homes are worth, many start to look longingly at a different house -- perhaps something smaller and cheaper and... Continue Reading »

WASHINGTON -- Today's record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most. One in four homeowners with a mortgage -- 11 million people -- owe more than their home is worth. These "underwater" borrowers have virtually no shot at refinancing. Their plight is a drag on... Continue Reading »