Want to know your options for an underwater mortgage refinance? Here's what to do when you can't refinance your underwater mortgage. Q: I built my home in 2006 for $750,000. I have a loan with a balance of about $525,000 and an interest rate of 6.625 percent. I have been trying to refinance my mortgage [...]
When going through a divorce and breaking up your mortgage, a mortgage loan assumption might be an option that could help. Q: I read your recent column in my local paper titled “Giving up interest does not free you from mortgage obligation.” The ex-wife was willing to give up her claim on the home to [...]
Refinancing your mortgage? Before you refinance your mortgage, here's what to know and ask during the loan application process. Q: I enjoyed your recent column that appeared in our local paper. I've just gone through a refinancing and found myself wondering about certain questions I should have asked. The main question was whether my loan [...]
Should I refinance for 15 or 30 years? When refinancing a rental property, think about your long term and short term goals. Q: I am interested in refinancing a rental property that qualifies for the Home Affordable Refinance Program (HARP). I owe $91,000 on the first mortgage and I have a second mortgage at $19,000. [...]
Buying a car while refinancing your home can cause some problems if you don't have a lot of cash available. Q: Is it ok to buy a car while I am refinancing my home if I am paying cash for the car? A: If you don't take out a loan for the car and you [...]
When figuring out how to refinance your underwater mortgage, be sure to look into the Home Affordable Refinance Program (HARP 2.0). Q: I enjoy your free weekly newsletter and Ilyce's Sunday show. I have a 6 percent mortgage with my lender on a rental property that has a balance of $75,000. The current value is about [...]
WSB Radio’s Ilyce Glink Show. Borrowers have loan questions with refinance programs and are seeking help with their mortgage problems with Chase Bank. On this week’s Ilyce Glink Show on WSB radio, we talked about how the Dow Jones record high last week does not spell relief for most Americans. While about half of the [...]
If you have zoning issues you might not be able to get a HARP refinance. Check your zoning codes before trying to get an appraisal. Q: I own a duplex building near Georgia Tech which is rented to students. It's not the classic duplex with two equal sides. It has an upstairs, downstairs, and a [...]
Trying to decide between a 30-year mortgage and a 15-year mortgage? Go with the 15-year mortgage to save money and be debt free. Q: I caught a portion of a response you made on your radio show about comparing a 30-year loan versus a 15-year loan. If I understood you correctly, the difference between these [...]
Are you refinancing with a lien on your property? If you also have title insurance issues, you need to resolve them before you can refinance. Q: Our home has a lien on it from the Georgia Department of Revenue. The Department of Revenue gave us the go ahead to refinance our loan or get a [...]
