Home | Ask Your Question | Mortgage Glossary |Free Credit Report | Mortgage Calculator |
|
|||||||||||||||||||||||
Mortgage Professor about mortgage refinancing: | |||||||||||||||||||||||
Refinancing With Two Mortgages
September 4, 2000 "I have an 8.75% first mortgage with a balance of $151,000, and a 12% second mortgage with a balance of $37,300. The second mortgage brought our total mortgage debt above the value of the property at that time, which is why the rate is so high. Our ... more... Can Mortgage Refinance at a Higher Rate Make Sense? April 8, 2002, Revised November 17, 2004 "Does it ever make sense to refinance into a mortgage carrying a higher interest rate than the mortgage you already have?" Very often it does not. Mortgage borrowers refinancing at higher rates ought to use the 72 hour ... more... |
|||||||||||||||||||||||
mortgage refinancing related definitions |
|||||||||||||||||||||||
Recision
Recision The cancellation of a contract. With respect to mortgage refinancing, the law that gives the homeowner three days to cancel a contract in some cases once it is signed if the transaction uses equity in the home as security. ... more... Private Mortgage Insurance, PMI Private Mortgage Insurance, PMI Loans with an LTV over 80% may require Private Mortgage Insurance (in some cases 75% or 70% when refinancing). If you do not have a 20 percent down payment, lenders will allow a smaller down payment. With the smaller down payment loans, however ... more... |
|||||||||||||||||||||||
More about mortgage refinancing Refinancing Your Home Mortgage Loan When to Refinance Your Mortgage Refinance Benefits - Refinancing Could Save You Money New York Refinance - Refinancing in New York Refinancing After Bankruptcy California Refinance - Refinancing in California Atlanta Mortgage Refinancing Best Refinance Mortgage Rate - Improve Your Odds of Getting a Low Rate Using Refinancing to Secure Lower Interest Rates Refinancing Your Home Mortgage Loan With Bad Credit
|
|
||||||||||||||||||||||
|