JEANNE REARDON - Attorney at Law
RSS

Delivered by FeedBurner


Recent Posts

What does the "on or about" closing date in my contract to purchase a home mean?
Real Estate Contract Mortgage Contingency Clause
Why a Home Buyer Needs Title Insurance
Joint Ownership of Real Property in New York
Home Mortgage Refinance

Categories

Capital Gains Tax
Closing Costs
Condos and Coops
Deeds
Foreclosure
Home Buying and Selling
Home Mortgage Refinance
Homeowner's Insurance
Investors
Loan Modification
Making Home Affordable
Real Estate
Real Estate Closing Costs
Refinance
Short Sales
Title Insurance
TRID
Types of Ownership of Real Property
Welcome
Zoning

Archives

October 2018
September 2018
June 2018
May 2018
February 2018
November 2017
April 2017
February 2017
January 2017
May 2016
April 2014
February 2014
January 2014
January 2013
August 2012
June 2012
March 2012
January 2012
December 2011
November 2011
October 2011
September 2011
July 2011

powered by

Real Estate Law Blog

June 2012

What Borrowers Can Do About Low Home Appraisals

With record-low interest rates potential home buyers are seeking to buy and current homeowners are seeking to refinance.  But low appraisals are making it difficult or even impossible for some borrowers to take advantage of this boon in record-low interest rates.
 
The problem stems from the fact that home prices have plummeted even further than first anticipated, as wells as laws and rules enacted by legislators and lenders in the wake of the financial crisis which seek to eliminate inflated appraisal valuations and improper pressures on appraisers as seen in the housing boom have now resulted in an “over-correction” or unnecessarily conservative valuations.

Mortgage Refinance - Shortening Loan Terms

Mortgages
Shortening Loan Terms
 
The New York Times
By VICKIE ELMER
Published: June 1, 2012
·         
LOW interest rates are making it easier for homeowners to reduce their mortgage  payoff  times considerably.
 
Almost a third of those who refinanced in the first quarter cut the duration of their mortgages to 15 or 20 years from 30, according to a recentrefinancing reportbyFreddie Mac. The 31 percent who shortened their terms represented the second-highest level since 2002, when 35 percent took out shorter-term