Refinance

The Obama administration is revamping a program that's designed to let more homeowners refinance their mortgages even if they don't have any equity. This isn't a new program, but instead attempts to turbo-charge an existing federal initiative called the Home Affordable Refinance Program. Here's a look at some frequently asked questions.

Today's record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most. These "underwater" borrowers have virtually no shot at refinancing. Their plight is a drag on the housing market and the broader economy.

America reached a milestone on Thursday: the lowest home mortgage rate in history. But at the same time as this astounding announcement, The Wall Street Journal reported that U.S. home ownership declined 1.1% over the past decade, the biggest drop since the Great Depression. What does it all mean for homeowners, home shoppers, and real estate investors?

Several press reports claim that the Obama administration is considering a program that will let struggling homeowners refinance at current mortgage rates. With rates at all-time lows, refinanced mortgages could save people hundreds, if not thousands of dollars a year.

With interest rates dipping to historic lows, many homeowners are refinancing their mortgages to shorten either the terms of their loans or their monthly payments. Here's what you need to know to decide whether refinancing now is right for you.

The Mortgage Bankers Association said they tumbled 10.5% last week, the biggest fall-off in four months. While the foreclosure crisis may be playing a role in the decline, rising interest rates are also partly to blame.

In a welcome sign of investor confidence in an economic recovery, U.S. interest rates grew for the third day in a row as people moved funds from bonds to stocks. But will higher interest rates slow the housing market?

Finding the best rate on a car loan has always been a time consuming task. While it was easy to see the super-prime rate of 0.0% at dealers and a range of rates on bank and credit union websites, finding your rate took more work. More specifically, it took filling out an application at several...

With nearly 25% of all mortgage holders in the U.S. underwater – meaning they owe more on their house than it's currently worth – it's no wonder that a new part of the Home Affordable Modification Program (or HAMP) taking effect April 5 is garnering big ink, including a page one story...

It's been well-reported that mortgage loan modifications are moving like molasses at big banks. But a little company called Ocwen Financial is using behavioral science to remove the stumbling blocks that get in the way of people trying to keep their homes.