When Should You Consider Getting Your Indiana Mortgage Refinanced?
Sooner or later, many Indiana property owners will undergo the process of refinancing their home; or at least consider whether or not they should get their Indiana mortgage refinanced. They do this for a variety of reasons. Before approaching a lender about a home refinance loan,it is vital that the property owner determines if it is the right decision to refinance their house. A refinance can give help to troubled property owners (particularly individuals who took out ARMs a few years ago), but it is not the solution for everyone. Following are several great reasons to refinance: Mortgage refinancing is typically a great alternative for individuals confronting foreclosure. A number of individuals have discovered themselves on the verge of not being able to...
Read MoreHARP 2.0 – What Is It?
For much of the past year, mortgage rates have been at or near record low points. Unfortunately, many homeowners have been unable to take advantage of these rates due to declining home equity. Many homes have lost significant amounts of value since the housing market peaked in 2006. As a result, many homeowners now owe more on their mortgage than their home is worth (this condition is known as being “underwater” or “upside-down” on one’s mortgage). Homeowners who lack equity in their homes are frequently unable to meet the loan-to-value (LTV) ratios required by lenders in order to refinance their mortgages. These borrowers may be missing out on thousands of dollars worth of savings. In response to this situation, the government...
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