Question by love45: My home has 300k mortgage left, at 4.875%, should I refinance? My credit before was good, but now it’s excellent because I made payments for 6 years, none late. Do u think I could get lower payments? Best answer: Answer by Judy No. Money Magazine had an article that stated not to [...]
Question by The ~Muffin~ Man: When will the Housing Bubble go “popppppp”? Business Week had a very informative cover article in the current edition titled “How Toxic is Your Mortgage?” It talked about so-called deceptive loans, phantom profits and the coming wave of defaults. I’m still trying to figure out why I should feel sorry [...]
By Gurmit Singh Toor Refinancing after a bankruptcy is not impossible, but it does take some work, and while some companies will refinance a day after the bankruptcy is discharged, it is not a good idea because the lender is not the most reputable. Use the six months to prepare properly for the refinance. Research [...]
by dane After falling for the last 2 months 30 year mortgage rates jumped up this week. The 30 year mortgage went from 5.10 to 5.25. This is the highest we have seen December 11, 2008. The 15 year mortgage moved up as well from 4.80 to 4.92. Below are rates for the last few [...]
Who are the people that are defaulting on their mortgages? which companies (industries) are involved in this? Additionally does this go on in some regions more than in others? what effects does it have on the economy and our daily lives? what can be done to prevent further morgage defaults and fix the tumbling economy? [...]