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Mortgage Professor about refinancing mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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... |
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refinancing mortgage related definitions |
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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... |
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More about refinancing mortgage Save Thousands on Your Home by Utilizing California Refinance Refinancing Mortgage Loan - Get The Lowest Interest Rate You Can When Refinancing 8 Tips for Keeping More of Your Hard Earned Money Quiz: How Much Do You Know About Credit Scoring? Mortgage Refinance Quote Offers Flexibility to Homeowners Home Mortgage Refinancing Lenders - What are Your Options for Finding a Lender? Accessing Funds You Never Knew You Had- Household Utilities and Mortgage Expense Reduction Plan California Mortgage Refinancing What is Mortgage Refinancing? Refinancing with a Home Equity Loan
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