FHFA Announces Miami HARP Outreach Event Dec. 5

(Source: FHFA) Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced it will hold its fourth event to reach homeowners who could save as much as $200 per month through the Home Affordable Refinance Program (HARP).  FHFA Director Mel Watt will... read more

Where can I get a loan to help repair my home?

Dear LoanSafe, I just inherited my grandparents house. I always planned on living in it, but it’s quite worn and needs a bit of fixing up. I would love to live in the home I grew up in most of my life, but don’t have the budget to fund the major repairs it does need.... read more

Mortgage Guide: FHA Streamline Refinance in 2013

Homeowners with an existing Federal Housing Administration (FHA) loan may qualify for a special refinance program – known as the FHA Streamline Refinance. An FHA Streamline Refinance requires little documentation and seems to be the fastest/simplest transaction... read more

Will I benefit from a refinance?

I have recently spoken with many borrowers, friends and family who have been questioning whether or not they should refinance. Most of the people I speak with state the reason they have not done anything yet is because they have been in the loan for longer than 5... read more

More Borrowers Able to Refinance Due to Home Equity Gains

(Source: Lender Processing Services, Inc.) – The August Mortgage Monitor report released by Lender Processing Services found that prepayment activity (historically a good indicator of mortgage refinance activity) declined sharply in August as mortgage rates... read more

Can I qualify for a refinance?

In order to refinance your home or take out any kind of second mortgage, equity is a requirement – not an option. Equity is simply the difference between your current mortgage(s) balance and the value of your home (appraised value). For example, if your home is... read more

Is it the right time to refinance?

People choose to refinance their mortgage for a variety of different reasons; including home repairs, medical bills, paying off school loans, change mortgage programs or even to lower the interest rate on the account. If you refinance at the “right” time... read more

FHA Short Refinance Facts

(Source: HUD By Julie Shaffer, Program Manager, FHA’s Short Refinance Option, HUD’s Office of Housing) – For the last year, I have been working to help implement FHA’s Short Refinance Option. The program gives borrowers who are current on their loans but owe... read more

Homeowner Mortgage Refinance Relief Act

(Source: open.nysenate.gov) - An act to amend the tax law, in relation to enacting the “homeowner mortgage refinance relief act” PURPOSE OR GENERAL IDEA OF BILL:The purpose of this bill is to eliminate the double taxation which occurs when the mortgage... read more

How long do you have to wait to refinance?

Many mortgage lenders require a “seasoning period” where you have to make payments on the current home loan for a certain amount of time before they will allow you to refinance again. Some lenders may require six months and some may require one year or... read more

How to do a short refinance?

Q. Our home is currently underwater by over $100,000.  We would really like to save it and we’ve been trying to get a loan modification for over a year but we have had absolutely no luck.  A mortgage company said that they can do what is called a short refinance... read more