What to do with a reverse mortgage if you remarry (at MarketWatch) - If a couple takes out a reverse loan, but then one spouse dies and the survivor remarries, it's time to give the lender a call. Even though reverse mortgages are nonrecourse loans, there are reasons to consider refinancing into a new loan.
Cash-in mortgage refinancings rise: Freddie Mac (at MarketWatch) - The portion of homeowners who brought money to the table for a cash-in refinance in the second quarter tied for the third-highest level since Freddie Mac started tracking refinancing trends in 1985, the housing agency said Wednesday.
A cash-in refinance can cut mortgage costs (at MarketWatch) - Cash-out refinancing gained popularity when home values were rising fast, and homeowners wanted to tap their home equity to put money in their wallet. Today, some borrowers are doing the reverse, bringing cash to the closing table when they refinance their home loan.
Foreclosures hit neighborhood home prices (at MarketWatch) - A foreclosure reduces the value of a home by an average 27% -- a much higher discount than occurs with other types of forced sales, according to a recent study that will be published in the American Economic Review.
Keep your home-equity line of credit from freezing (at MarketWatch) - For starters, as long as you are current on your payments, lenders cannot demand that you pay down your balance, even if you are fully drawn. All lenders have to abide by their contracts with borrowers, and home-equity lenders are no different.
Do you regret buying your home? Most people don't (at MarketWatch) - In a housing market like this, you’d expect a good deal of buyer’s remorse out there. But 90% of homeowners say they don’t regret buying their current home, according to a survey released this week by Bankrate.com.