Carrie Reeder asked: The hassle of making two monthly mortgage payments has prompted many homeowners to consider refinancing their 1st and 2nd mortgages into one loan. While combining both loans into one mortgage is convenient, and may save you money, homeowners should carefully weigh the risks and advantages before choosing to refinance their mortgages.Benefits Associated [...]
Michael Petrone asked: President Barack Obama has enacted a mortgage stimulus plan which will allow millions of homeowners the opportunity to refinance their home mortgage into a 4.5% fixed rate. This “Home Affordability Program” will give homeowners the chance to save hundreds of dollars per month. Here is how:Currently, there are numerous grants available to [...]
Brian B asked: Does it matter what day of the month you close on a refinance loan? I just paid my mortgage payment for the month of March. However, I if refinance and close on March 10th, would that mortgage payment get prorated and would I get some of it back?NEAL
Gorilla Mike asked: At today’s current interest rates (fixed rates), what would be my monthly mortgage payment on a $175,000 mortgage, and a $300,000 mortgage (refinance/second mortgage). We are currently coowners in the house and want to buy the other siblings out.ELWOOD
Allen Barckley asked: Is too much money being spent on your monthly mortgage payment, are you a victim of large payment of your home loan, and do you want to live an easier life? If you want to get away from paying large amounts of money on your mortgage loan, then getting a refinance mortgage [...]