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Facts - Books - News    U.S. Facts Of Law:


Real Estate Refinancing

Real Estate refinancing is the replacement of the present mortgage secured by the property with a new mortgage using the same property as collateral.

Real estate refinancing can be used to take some built up equity out of the property, to replace the existing mortgage with one having a lower interest rate or to move other debt that is not tax favorable to the mortgage which does have tax advantages.

An alternative to refinancing to take some equity out of a property is to take out a second mortgage.  A second mortgage is subordinate to the first mortgage and usually has a higher interest rate than can be had with a new first mortgage.

A second mortgage offers the advantage of not altering the original mortgage and usually involves less scrutiny and paperwork.  The advantage is that it is an easy way to move high rate credit card and other non-secured debt to a lower second mortgage rate with tax advantages.

A second mortgage can also be structured in the form of a credit line.  In this type of second mortgage the loan amount is in place but interest is only charged on the amount of the credit line being used.  It also has the flexibility to be used, paid down and used again.

In conclusion, if your objective is to reduce the interest rate on your first mortgage or you wish to use the lowest rate available to pull equity out of a property, then real estate refinancing is for you.  However, if you just need a quick, easy way to access some equity to pay off some credit card debt or use equity as a credit line, then a second mortgage might better fit the bill.

 

Real Estate Refinancing Best Sellers from Amazon.com

Mortgage Ripoffs and Money Savers: An Industry Insider Explains How to Save T...
by Carolyn Warren
Amazon Price: $12.21
Customer Review: I read the book from cover to cover and was impressed with the insight and advice offered...until I spoke with a friend who is now in the process of getting a mortgage and learned that much of what I learned from the book is outdated. For example, t...
 
The New Rules for Mortgages
by Dale Robyn Siegel
Amazon Price: $11.21
Customer Review: This book is light in weight but heavy in information. Jam packed with insightful hints and anecdotes that give any one who is really interested in undertanding what criteria loan officers consider when processing home mortgage loans.
...
 
Loan Modification For Dummies
by Ralph R. Roberts, Lois Maljak, Joe Kraynak
Amazon Price: $17.09
Customer Review: I am a mortgage underwriter and was curious to find out detailed information about Loan Modification. This book was easy to understand and had a lot of real-life examples and stories. Very well written in plain language with a huge glossary in the ...
 
The Mortgage Encyclopedia: The Authoritative Guide to Mortgage Programs, Prac...
by Jack Guttentag
Amazon Price: $16.47
 
An Insider's Guide to Refinancing Your Mortgage: Money-Saving Secrets You Nee...
by David Reed
Amazon Price:
Customer Review: "Insider's Guide to Refinancing Your Mortgage" contains good basic information that focuses more on refinancing rather than qualifying for a first-time home loan.

The following topics are covered:

1. Types of refinance mor...
 

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Real Estate Refinancing News
GN News

More Homeowners Putting In Cash To Refinance Wall Street Journal Blog
The Money TimesMore Homeowners Putting in Cash to RefinanceWall Street Journal blogLarry and Mary Schuck paid about 29000 to refinance into a shorter term mortgage at a rate of just 4.5. Second quarter data from Freddie Mac U.S. Mortgage Applications Index Decreases 4.4 After Refinancing CoolsBloombergA silver lining to latest housing mess refinancingBoston Globe blogFinancial planners answer your questions: How to refinance when your home has Atlanta Journal Constitution blogeCreditDaily.com DailyFinance Reutersall 286 news articles raquo

AllTime Low Mortgage Rates: Time To Refinance San Francisco Chronicle
New York Daily NewsAll Time Low Mortgage Rates: Time To RefinanceSan Francisco ChronicleSo once again, you might be asking yourself, is it time to refinance Assuming you can qualify to refinance your mortgage, here are some things to consider. A cash in refinance can cut mortgage costsMarketWatchHome Mortgage Refinance Loans Vary, So Shop CarefullyMortgage11Current Mortgage Rates Create Great Refinancing OpportunitiesMortgage Rates Trends blogRed, White, and Blue Press blog Dayton Daily News TMCnetall 119 news articles raquo

CIT: Beginning Discussions To Refinance, Repay Costly 4B Debt Wall Street Jo...
RTT NewsCIT: Beginning Discussions To Refinance, Repay Costly 4B DebtWall Street JournalCIT Group Inc. CIT said Tuesday it is entering into discussions later this week to refinance and repay the CIT Group39s Thain Posts Second Profitable Quarter, Plans to Refinance DebtBloombergBack from bankruptcy, CIT posts quarterly profitThe Star Ledger NJ.comCIT Group reports profitFinancial Timesall 77 news articles raquo

ECB Allots EUR189.986 Bln In Main Refinancing Op At Fixed 1 Wall Street Journal
ECB Allots EUR189.986 Bln In Main Refinancing Op At Fixed 1Wall Street JournalFRANKFURT Dow Jones The European Central Bank said Tuesday it allotted EUR189.986 billion in seven day funds at its main refinancing auction, and more raquo

Russiaaposs Sberbank To Refinance RusAlaposs Credit To VEB RIA Novosti
RIA NovostiRussia39s Sberbank to refinance RusAl39s credit to VEBRIA NovostiRussia39s top bank, state controlled Sberbank, will fully refinance a 4.5 billion loan, which Russia39s state development bank Vnesheconombank VEB issued Russia39s VEB council backs RUSAL refinancing dealReuters AfricaRussia39s RUSAL says VEB approves 1.7 bln loanReuters Africaall 6 news articles raquo

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