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Remember the old commercials urging people to turn their home equity into cash for new cars, vacations and other luxuries? Well, people are still cashing out, but for a different reason: to decrease the size of their home loan. MarketWatch reported today that “cash-in refinancing” is the new trend in which borrowers tap their home equity … Continue reading Homeowners Use Cash-in Refinancing to Pay Down Mortgages Now that the Wall Street reform bill has been passed by the Senate and President Obama announced his intention to sign it into law next week, these regulations will not only affect the way commodities are traded but who can and cannot obtain a home mortgage. REALTOR Magazine recently reported that the Dodd-Frank Wall Street Reform … Continue reading How Will Wall Street Reform Bill Will Affect Mortgage Lending? The New York Times recently featured a couple in Florida who are in foreclosure but have stopped making their mortgage payments. They reasoned that the amount owed on the home was more than what the house was worth and, since they know they were going to lose the house, they had nothing left to lose. The … Continue reading When Will The “Free Ride” End? |
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