Understanding Reverse Mortgages
As a homeowner, you have options. Depending on your age and financial situation, you have varying needs, and refinancing options are viable for those who meet certain qualifications. Reverse mortgages are often helpful to senior citizen homeowners. A reverse mortgage involves the lender paying the homeowner either a lump sum, or installments based on the [...]
Benefits of Refinancing
If you are currently paying for a long-term mortgage, refinancing may help you lower your bills. However, oftentimes, refinancing is costly during the short-term. Refinancing a mortgage may not be beneficial for everyone, and it is important to consider the options before jumping into any situation. Financial situations are usually dynamic. If your financial situation [...]
It’s a Great Time to Refinance
With unbelievably low interest rates that we have seen over the last two weeks it’s a great time to get your mortgage refinanced. If your current interest rate is more than 5.25 and you intend to stay in your home for at least the next five years, you should call a mortgage loan officer and [...]
Interest Rates Remain Exceptionally Low
Though applications for new mortgages dropped off in May, interest rates continue to be at some of the lowest levels in history. In the good old days, people would be lining up to refinance their current loans at the lower rates. However, things are really different today. First, many who could use the lower rates [...]
Feds Cut Rate Again by .500
I have already been called this morning and asked if interest rates are going to fall again. My answer, I have no idea. Interest rates are not following normal historical indicators so no one that I know feels confident in predicting what might happen. It also takes anywhere from 6 to 12 months for a [...]