Tag

mortgage refinance

Refinancing While Underwater

Mortgage Finance True or False True or false:  being underwater (owing more on a home than the home’s worth) precludes an owner from refinancing. Answer:  False. You’re excused for answering “true”; normally, if the homeowner has no equity, there’s no collateral to secure the lender’s mortgage. Today is most certainly not a “normal” environment, though....
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“Congratulations!! You May Be Already be a [Mortgage Relief] Winner!”

Note the (Very) Fine Print One of the sleazier come-on’s I’ve seen the last few years is a very official looking document — complete with a “Case Number” and Department of Housing and Urban Development (“HUD”) seal (right) — that begins like this (all italics theirs): Dear [Home owner]: Your home loan has gone under review for the...
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