This year borrowers will be receiving special tax breaks for refinancing. Most of us overlook the tax breaks available when we refinance our mortgage. You can get special tax breaks on the following:
The faulty mortgage practices which damaged the economy and financial markets round the globe will now face tighter restrictions. H.R. 1728, Mortgage Reform and Anti-Predatory Lending Act would take steps to make sure that the borrowers avoid mortgages which are costly so that they can pay back their creditors and receive better disclosures.
It has been noticed for quite some time that the mortgage rates have been incredibly low. It has tempted a number of people to refinance or buy their first home. But it's really doubtful whether everyone would qualify for the lower rates or not. There are lots of factors which one has to consider in this regard. Some of these are mentioned below:
Last week, the fixed mortgage rates fell again as the Federal Reserve planned to buy the mortgage backed securities. It was noted that rates for 30-year fixed home loan had declined to 4.80 %. On the other hand, the 15-year fixed rate was unchanged at 4.48%.
This is a common question which homeowners, who are upside down on their mortgage, ask in the forums. Recently, the Obama administration has come up with 2 types of programs which would make mortgage affordable around 9 million homeowners: refinancing and loan modification.
If you are upside down on your mortgage and don’t know how to handle the situation, then the Home Affordable Refinance can help your cause. This is a new program introduced by the Obama Government to assist millions of homeowners who can’t refinance their property due to loss of equity.
Most of the homebuyers who have purchased their dream home during the housing boom of 2004 - 2006 are upside down on their mortgage. So, what does "upside down on mortgage" mean? It is a situation where you owe more money on your home than you could get by selling it. It's very discouraging to know that you owe more on your home is worth.
But hold on. If you find yourself in such a situation, you have some options which might let you keep your home. Check them out here:
Hello everyone,
It's a pleasure for me to announce that nearly 70,000 discussions have taken place in MortgageFit Forums till date. Moreover, the community has also crossed 32,500 members!!! Though there are various categories in our forums, yet discussions on loan modification, bankruptcy, refinance and first time home buyer's tax credit are gaining importance in recent times.
April 15th is round the corner and it's common for last minute filers to rush through their tax forms. Rushing through the tax forms may increase the chances of making unnecessary mistakes. It has been noticed that due to these unnecessary mistakes, the tax refunds from the government are delayed. Here are some of the tax tips which may help you in filing your taxes for 2009:
The uncertainty which has sent the stocks to 12-year low has now started to affect the corporate bonds and loans which had resulted into a lot of gains earlier in the year. The short-term credit markets are still doing better than the last year. This is a result of the programs taken up by the government to buy commercial paper and guarantee short-term debt.
