Another Chance for a Refinance
If you have an interest rate of over 6%, you may want to consider a refinance of your loan. You will also need to consider your blended rate if you have a first and a second as this could be a lot higher than what you can currently get. However, before you go hog wild [...]
What to Watchout for When Refinancing
The banks and mortgage companies have done such a great job selling the public on the advantages of a low interest rate that people allow the rate to be what drives them to refinance their loan. And while getting a lower interest rate is a good thing, you must weigh the cost of the refinance [...]
Why So Many People Don’t Qualify Right Now
I just talked to a couple of other people in the mortgage business around the country and they are experiencing the same thing lenders are experiencing here in Middle Tennessee; many people no longer qualify for a loan. I have taken refinance questions and applications over the last few months and there are people [...]
Is This Another Refinance Boom?
All of a sudden the holidays are over and everyone is looking to refinance their homes. It does look like another refinance boom and there are plenty of companies that are soliciting clients through the mail. I’ve had several people call me just this past weekend about letters they have received. Both of these [...]
Rates are Down but Some Borrowing Still Tough
This past week has been a rough one for some of the people I have talked to, all of who have multiple houses and are paying their bills and mortgages on time. The issues have to do with being self employed and not showing enough income on taxes and wanting to refinance a second [...]
New THDA Refinance Program October 1, 2008
Starting on October 1, 2008, the Tennessee Housing Development Agency will release a newly created program designed to help people statewide who have adjustable-rate mortgages that may be in jeopardy of foreclosure once the loan adjusts. This new program, referred to as Great Save, will allow those who qualify to get a low interest, 5.8%, [...]