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Over the past years, many of Americans pulled money out their homes through “cash-out” refis. Today, many of my clients are bringing cash into their refinance transactions. Money is flowing in the opposite direction.
You might consider bringing cash to close your refinance to:
1. Lower your mortgage rate: If your LTV is close to the [...]
By Dennis Norman, on March 29th, 2010
Dennis Norman
Last week HUD announced changes to FHA home loan programs to provide refinancing options to homeowners who owe more than their home is worth. Under FHA’s new plan, existing underwater homeowners can refinance their existing non-FHA loan into a FHA loan as long as they are current on their loan and their [...]
By Dennis Norman, on October 7th, 2009 To alleviate some suffering by homeowners, the Obama Administration introduced the “Making Homes Affordable” plan last March. Unfortunately, the plan has not yet had the intended effect.
Article by the Grand Law Firm
Economists debate whether or not the country is actually currently in a recession. Some say that there are positive signs that we [...]
By Dennis Norman, on August 15th, 2009 Freddie Mac announced that in the second quarter of 2009, refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or fixed. In fact, ninety-nine percent of prime borrowers who originally had a conforming ARM selected a new conforming fixed-rate mortgage when they refinanced.
While 30-year fixed-rate mortgages [...]
By Dennis Norman, on July 31st, 2009 Dennis Norman
By: Dennis Norman
Today we pick up where we left off yesterday with my E-View TM with respected mortgage banker, H. John Frank, President of Paramount Mortgage Co. here in St. Louis.
If you missed part one, two, or three, there are links to both at the end of this post. And [...]
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