Comments for Nationwide Mortgage Lender http://www.bdnationwidemortgage.com/blog Fri, 30 Jul 2010 22:23:39 +0000 hourly 1 http://wordpress.org/?v=3.0 Comment on Best Mortgage Refinance Programs by Home Mortgage Refinancing Help | http://www.bdnationwidemortgage.com/blog/index.php/2010/06/best-mortgage-refinance-programs/comment-page-1/#comment-970 Home Mortgage Refinancing Help | Fri, 30 Jul 2010 22:23:39 +0000 http://www.bdnationwidemortgage.com/blog/?p=189#comment-970 [...] homeowners are eligible for a fixed mortgage refinance and should help them take advantage of the best mortgage refinance rates that we’ve seen in decades.” He notes the yield on the 10-year Treasury bill is 2.93 [...] [...] homeowners are eligible for a fixed mortgage refinance and should help them take advantage of the best mortgage refinance rates that we’ve seen in decades.” He notes the yield on the 10-year Treasury bill is 2.93 [...]

]]> Comment on Cash Out Refinance vs Home Equity Loans by Nationwide Lender http://www.bdnationwidemortgage.com/blog/index.php/2010/07/cash-out-refinance-vs-home-equity-loans/comment-page-1/#comment-967 Nationwide Lender Thu, 29 Jul 2010 15:48:14 +0000 http://www.bdnationwidemortgage.com/blog/?p=237#comment-967 This is one of the biggest obstacles in mortgage lending today. Thousands of homeowners are underwater and unable to refinance their first or second mortgages. The Home Affordable Refinance Program allows borrowers to refinance their first mortgage up to 125% if the note is held by Fannie Mae or Freddie Mac. However, they do not allow borrowers to refinance any type of second mortgage into their first mortgage. At this point you have two options. 1. Wait for your home equity to rebound and then refinance the HELOC into your first mortgage. The problem is that is could be several years until your home equity comes back and the interest rates could be significantly higher at that point. 2. Consider contacting your second mortgage company that services the home equity line and request a second mortgage modification. You never know, they may offer a fixed rate conversion and they may renegotiate the balance if you have the ability to pay it off. We wish the best of luck Tim. This is one of the biggest obstacles in mortgage lending today. Thousands of homeowners are underwater and unable to refinance their first or second mortgages. The Home Affordable Refinance Program allows borrowers to refinance their first mortgage up to 125% if the note is held by Fannie Mae or Freddie Mac. However, they do not allow borrowers to refinance any type of second mortgage into their first mortgage.

At this point you have two options.
1. Wait for your home equity to rebound and then refinance the HELOC into your first mortgage. The problem is that is could be several years until your home equity comes back and the interest rates could be significantly higher at that point.

2. Consider contacting your second mortgage company that services the home equity line and request a second mortgage modification. You never know, they may offer a fixed rate conversion and they may renegotiate the balance if you have the ability to pay it off.

We wish the best of luck Tim.

]]> Comment on Cash Out Refinance vs Home Equity Loans by Tim Berris http://www.bdnationwidemortgage.com/blog/index.php/2010/07/cash-out-refinance-vs-home-equity-loans/comment-page-1/#comment-966 Tim Berris Thu, 29 Jul 2010 15:39:36 +0000 http://www.bdnationwidemortgage.com/blog/?p=237#comment-966 We are having a difficult time refinancing our home equity line. Our home value dropped and our first and second mortgage balances are now more than our home is worth. Do you have any suggestions? Thanks -Tim We are having a difficult time refinancing our home equity line. Our home value dropped and our first and second mortgage balances are now more than our home is worth. Do you have any suggestions?
Thanks -Tim

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]]> Comment on The Mortgage Loan of a Lifetime by Tweets that mention Mortgage Loan of a Lifetime | Nationwide Mortgage -- Topsy.com http://www.bdnationwidemortgage.com/blog/index.php/2010/07/the-mortgage-loan-of-a-lifetime/comment-page-1/#comment-928 Tweets that mention Mortgage Loan of a Lifetime | Nationwide Mortgage -- Topsy.com Wed, 21 Jul 2010 21:21:35 +0000 http://www.bdnationwidemortgage.com/blog/?p=244#comment-928 [...] This post was mentioned on Twitter by Boise Home Loans and boise mortgage, Mario. Mario said: Mortgage Loan of a Lifetime | Nationwide Mortgage: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Conne... http://bit.ly/aTengJ [...] [...] This post was mentioned on Twitter by Boise Home Loans and boise mortgage, Mario. Mario said: Mortgage Loan of a Lifetime | Nationwide Mortgage: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Conne… http://bit.ly/aTengJ [...]

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