Mortgage Blog

A new bill will attempt to eliminate all upfront fees and appraisal costs for refinances, prohibit second-lien holders from unreasonably hindering refinances, and penalize mortgage insurers who refuse to transfer coverage to refinanced loans without due cause.

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Do you feel like you need to remodel? Have you lived with the small bathroom and outdated kitchen for too long? Just remember after you secure your financing with a refinance or home equity loan, there are other things to consider. One of the most important questions to consider is the resale return on investment. Historically kitchens and baths provide the greatest return on investment. You should consider while you are spending the money is it worth spending any more to enjoy your home to greater level of detail, or are you skimping by just trying to get a dollar to dollar return.

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Mortgage refinance borrowers may get help from President Obama's latest plan to help offer lower monthly payments on their existing mortgage.  The gist of the program is designed to help borrowers who are not behind on their payments but would ordinarily have trouble refinancing because they do not have enough equity to satisfy typical mortgage lending criteria. Currently programs apply to only mortgages held by Fannie Mae and Freddie Mac, however more help may be on the way. Wholesale banks are beginning to loan so more options are opening up for borrowers. See how it affects you and if you qualify for the lowest Pa Mortgage rates here.

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