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Articles tagged with: refinance

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[26 May 2012 | No Comment | 4,661 views]
HARP 2.0. giving refinancing a boost

Back in November, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac announced new guidelines for the Home Affordable Refinance Program (HARP).
Why? The original HARP program – which was set up close to three years ago to help home owners refinance their mortgages – wasn’t as effective as hoped. Less than 1 million home owners benefitted from the original HARP and that had a lot to do with declining property values in a lot of markets. The original program required home owners wanting to refinance to owe no more …

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[27 Nov 2011 | No Comment | 2,545 views]
Geting ready for ‘HARP 2.0′

On Nov. 15, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac announced new guidelines for to the Home Affordable Refinance Program (HARP) in hopes of helping more struggling homeowners take advantage of lower interest rates and secure affordable mortgage payments.
The so-called “HARP 2.0” is an extension and expansion of the program that is a little over two years old and hasn’t helped as many home owners as expected. Indeed, HARP has helped less than 1 million homeowners since it was launched and that, in large part, is due …

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[20 Nov 2011 | One Comment | 2,090 views]
Worried about mortgage payment? Go local.

TransUnion released a report stating the mortgage delinquency rate for the third quarter has risen for the first time since the last quarter of 2009.
The credit bureau had initially forecast a decline in the delinquency rate. The national delinquency rate – which serves as a snapshot of how many people were 60 days or more behind on their mortgage payments – was 5.88 percent in the third quarter. For the record, Arkansas fared better than the national average at 3.62 percent.
Believe it or not, the ramifications of the so-called subprime …

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[18 Sep 2011 | One Comment | 2,934 views]
Obama explores refinancing — again

On Sept. 8, President Barack Obama made some references to revisiting the issue of making refinancing options available to home owners who are struggling with their mortgages.
We’ve heard such talk before and the result was the Home Affordable Refinance Program (HARP), which was put in place a few years ago in hopes of giving people with mortgages backed by Fannie Mae and Freddie Mac a way to refinance at lower rates. That program has helped fewer people than federal officials hoped in that approximately 883,000 home owners have been helped …

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[28 Aug 2011 | One Comment | 2,266 views]
Bankers expect modest increase in purchase mortgages

The national Mortgage Bankers Association is expecting an increase in purchase loans in 2012, but not a large one.
The Association, on Aug. 19, increased its origination forecast for 2011, but dropped if for next year. Still, the trade group expects to see an increase in purchase mortgages next year after a decidedly stormy 2011.
The good news from the latest forecast has to do with total residential mortgage originations. The Association projects a total of $1.1 trillion in residential mortgage originations this year, up $100 billion from earlier forecasts. That boost, …

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[20 Aug 2011 | 7 Comments | 16,124 views]
Low interest rates contribute to increase in refinance loans

The national Mortgage Bankers Association reports that the demand for purchase mortgages has remained little changed throughout the summer, but refinance mortgages are a different breed of cat.
Over the past few months, the demand for refinance mortgages has grown. A lot of it has to do with interest rates. Those dropped to the lowest point this year in the first week of August – the rate on a 30-year, fixed mortgage averaged 4.37 percent on Aug 5 while the rate on a 15-year mortgage was 3.52 percent.
Those rates, the Mortgage …