More mortgage relief from the White House – but congressional ‘ok’ doubtful

An summary update (by CAR.org) on the mortgage relief plan by the federal government, covering an article by The Mercury News: In his State of the Union Address, President Obama laid out a plan to help responsible borrowers and support a housing market recovery. Details of that plan were released yesterday. However, funding for the …

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Refinance or modify while it’s still possible

Interest rates have been very low for several years, and right now they are lower than ever, yet millions of mortgage borrowers who could profit from a refinance haven’t. Similarly, millions of borrowers who are having trouble making their mortgage payments but want to remain in their homes could have their mortgages modified to make …

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Obama Pledges to Refinance Millions of Mortgages at Today’s Rates

Housing got only a brief mention in President Obama’s highly anticipated jobs speech last Thursday night. But it was a pledge that some pundits say is finally a step in the right direction. Others say it’s likely to have little impact. Obama told Congress that his administration is going to work with federal agencies to …

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Refi before sale can backfire

Homeowners who anticipate that they will be selling their house within a few years want to net as much from the sale as possible. The usage of the verb “net” indicates that what matters is not how much they receive for the house but how much they have left after repaying the mortgage. Real estate …

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