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Can I Refinance My Mortgage If My Home Is Underwater or Upside Down?

November 9, 2008

When the Real Estate bubble burst many homeowners particularly in parts of the country like California and Florida saw their property values plummet. If you were one of these homeowners you may have gone from having as much as $50,000 in equity to being under water. The burning question for homeowners who find themselves in [...]

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E-Loan Deceives Mortgage Shoppers

November 5, 2008

Take a trip to the E-Loan website and you’ll be greeted by a graphic of the US Capital building announcing that the “Fed Cuts Rates,” to 1.00% down 1.2 a point. That’s truly amazing…but what does that have to do with mortgage rates? Absolutely nothing. The rate cut that took place on 10/29/2008 was to [...]

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Debt to Income Ratio and Refinancing Your Mortgage

November 2, 2008

Debt-to-Income ratio is simply the ratio of your monthly income to the amount of your debts. This ratio is commonly referred to as DTI. Suppose for instance your gross income is $5,000 per month and your debts are $2,000 per month. In this example your debt to income ratio is 40%. If you are trying [...]

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FHA Mortgage Refinancing

September 28, 2008

Are you thinking about mortgage refinancing with an FHA loan? You’ve probably heard that mortgage rates are at a five year low and that the FHA refinance loans have been updated and are once again very popular. Fortunately for you, FHA loans now present an excellent opportunity for you to refinance and save some money [...]

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Refinance to Avoid Foreclosure

August 18, 2008

A time for many people to start thinking about mortgage refinancing is when they are headed for foreclosure. Many people get into trouble because they are not able to keep up with their payments; the payment is either larger than they anticipated or their finances have taken a turn for the worse and they can [...]

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