My Mortgages
My goal is is to be free of debt when I retire. I’m currently focused on paying down my mortgage which consists of two loans. The combined interest rate is fixed at 3.25. If I were to adhere to the amortization schedule the last payment will be due in 2044. Due the drop in interest […]
I Refinanced My Mortgage Lowering My Monthly Expenses
I’ve been wanting to refinance my mortgage for years now. My primary reason for doing so is that the monthly payment on the mortgage exceeds the income I’m receiving. So, in the event of a job loss, I would not be able to continue making payments on the property. If I were to get the […]
Changes to HARP
The guidelines for Home Affordable Refinance Program (HARP) have been expanded to (hopefully) include even more homeowners. Eliminating certain risk-based fees for borrowers who refinance into shorter-term mortgages and lowering fees for other borrowers; Removing the current 125 percent LTV ceiling for fixed-rate mortgages backed by Fannie Mae and Freddie Mac; Waiving certain representations and […]