The News Review:
- Mortgage Refinancing
- Millions owe more on their homes than homes are worth
- DEICISION 2008: Candidates vie for 22nd District House post
Mortgage Refinancing
Food Consumer, IL
But before deciding, you need to understandall that refinancing involves. Your home may be your most valuablefinancial asset, so you want to be careful when choosing a lender orbroker and specific mortgage terms. Remember that, along with thepotential benefits to refinancing, there are also costs. When you refinance, you pay off your existing mortgage and create anew one.
Millions owe more on their homes than homes are worth
Minneapolis Star Tribune, MN
Home equity lines of credit — even for people who pay their mortgages faithfully — will be harder to come by. And woe to those who lose a job or get sick. "If you have some kind of disruption to your income and you can’t make your mortgage payment, it’s going to be very hard for you to refinance or anything like that," said Mark Zandi, chief economist for Moody’s. "This was the bedrock of most people’s savings, their home. "
Goldner walked away from his three-bedroom home once he could no longer make the mortgage payments. A friend who is a real estate broker was able to arrange what’s called a short sale — the home was sold for less than Goldner owed, all the proceeds went to the bank and the remainder of Goldner’s mortgage debt was forgiven. "I feel very fortunate to be out of that place and moving forward, unlike a lot of people in this kind of situation," Goldner said.
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DEICISION 2008: Candidates vie for 22nd District House post
Southgate News Herald, MI
There is a lot of unnecessary spending that, if stopped, would save millions of dollars a year. How can the state help homeowners who are facing foreclosure?GEISS: These are tough economic times, and we must do everything we can to help working families. I support using the Adjustable Rate Mortgage Refinance Program to assist homeowners in refinancing to a lower-interest, fixed loan. I also support the Rescue Refinance Program that assists individuals who are delinquent on their mortgage and are at risk of losing their homes. JOHNSON: Let me begin with the truth about what the status quo politicians did with last year’s budget, making us the laughing stock of the nation. I am unsure that anything can be done as a result of the failings of career politicians. I will fight to cut all the fat out of the budget in hopes of lowering taxes to lessen future foreclosures.
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