Posts Tagged ‘refinancing’

Your Money Friday: All About Real Estate


20 Jul

It was real estate theme week on YM. We had questions about refinancing- would it make sense  and would it hurt chances of getting a mortgage on another property.

Someone’s dream home went on the market. Another person had the appraisal on the home they are looking to buy come back lower than anyone expected.

And then there were the threads about selling a home- is it worth it to make significant upgrades just to sell, if you do make improvements, which ones have the most bang for the buck, and finally, is it worth it to use a “stager”.

Refinancing


20 Oct

With today’s interest rates, we’re looking at refinancing our home. Unfortunately, all the programs that currently exist help people who are having problems paying their loan. We aren’t. In fact, we’re a good risk. Chase has never sold our mortgage. This screws us.

Due to falling property values, we owe more than 80% of the value of our home. If our loan were owned by Fannie Mae or Freddie Mac, we could refinance without PMI. As it is, we can’t. Amusingly, per Chase customer service, if we refinanced with PMI, they would sell our loan to one of the FMs.

100 Words On

topics explored in exactly 100 words