Barriers and Problems Refinancing a Home Mortgage in 2009

My quest to refinance my home mortgage continues. Rates are around 5.00% with no points for a 30 year fixed, last I checked. The biggest barrier home owners face (and that I am facing) is that falling home values make it difficult to meet minimum qualifications.  Even with a solid credit report and score, it is difficult to qualify for a loan. Loan to Value Ratio (LTV) Loan to Value ratio is a ratio... 

Pros and Cons of a Home Equity Loan for Home Improvement

At least 3 times a week I hear a commercial on the TV, radio or internet selling a home equity loan or home equity line of credit (HELOC). “You deserve it!” the ad tells me, encouraging me to take that vacation the family has always dreamed of, or buy that car we’ve always wanted, or put on that addition we’ve been putting off for so long. Of course, this is no surprise. Even with the subprime...