President Obama on Monday announced new measures to help borrowers refinance their existing mortgages to new loans with lower interest rates and cheaper monthly payments.
The plan is an expansion of an existing program to help borrowers who are not behind on their payments but cannot refinance because they do not have enough equity in their home.
"Right now, some underwater homeowners have no choice but to refinance http://refinancetoolbox.com/ with their original lender - which some lenders refuse to do," Obama said in prepared remarks.
1:50 AM 04/30/2013
Hello, fellow Brownstoners: I am interested in re-financing my mortgage to get a lower rate. I currently have an FHA loan, so I pay PMI. I want to re-financing under a conventional loan to get that monkey off my back, but of course, I need the 20% equity required. I purchased my Brownstone on a premier block Bed-Stuy in 2010 in the mid 700s, and I am confident now that with recent home price risings and the condition of my home, I could get close to a million on the market. The problem is the price ranges in the surrounding area seem to vary alot, a... More»
1:21 PM 11/08/2012
We are considering the purchase of a legal 2 family brownstone. Looking for a financial planner who can help us map out how this fits with our overall finances and financial plans, eg., retirement, college tuition, etc. I am not looking for a mortgage broker, looking for someone to consider our overall income/assests and how this purchase would affect our financial future taking into consideration short and longer term expenses. thnks More»
1:27 PM 04/18/2012
Has anyone financed a mortgage with this lender? They have a no closing cost FHA loan that results in a slightly higher rate of 4.2% for a 30yr fixed. What am I missing here regarding the closing cost? Are smaller banks willing to give up all those closing costs to actually sell you that loan? More»
7:52 AM 01/27/2012
Wow my brains have been blown in the last 36 hours of dealing with the mortgage brokers from various banks.
in 2008 we purchase 2 apartments in a brownstone and combined them into a 2 bedroom apartment. The purchase price in 2008 was $575k and we spent $100k in renovations (it was a gut renovating removing every thing including all walls and ceilings etc front to back including new wiring/plumbing etc
In mid 2010 we refinanced (didn't take any cash out just refinanced to a 30year fixed) - the bank valuation done at this time valued our apart... More»
3:24 PM 01/26/2012
I have just signed the papers for a refinance that I have tried and failed three times since 2009 to get done (through Chase - don't ever try to refinance with them!). This time I worked with mortgage broker Vanessa Thatcher who I found on Brownstoner. I was skeptical in spite/because of the wildly enthusiastic plugs - but she was great. Got me an amazing rate and was incredibly responsive and super fast. I made my first contact with her on Dec. 8 and so the whole thing took just a little over 5 weeks. The lawyer from Citibank who was just here told m... More»
8:54 PM 01/18/2012
I am looking for a financial planner who does not get a commission on sales of securities, etc. I am looking for someone to help with the big picture, eg., savings goals, advice on how much to invest in home renovations, college funds, life insurance as well as investments. Any recommendations from brownstoners would be greatly appreciated - thanks in advance. I posted this a while ago but only got 1 response (and it was a firm that had a steep minimum in liquid assests!) More»
4:25 PM 12/02/2011
I am looking for a financial planner who does not get a commission on sales of securities, etc. I am looking for someone to help with the big picture, eg., savings goals, advice on how much to invest in home renovations, college funds, life insurance as well as investments. Any recommendations from brownstoners would be greatly appreciated - thanks in advance More»
1:16 PM 09/17/2011
Deed Transfer recorded
Fischman, Michael I And Fischman, Shoshanna
M.S.F. Hicks Family Limited Partnership
Deed Transfer recorded
M S F Hicks Lp
Fischman, Michael Ivan
Deed Transfer recorded
Fischman, ... More»
3:41 PM 07/21/2011
I own a 3 family rental property in Bushwick and would like to take a cash out refi to perform some repairs and also purchase another small investment property in Brooklyn. I'm retired and my only income is the income from this and another rental property.
Anyone gotten a loan on a non owner occupied 3 family in Brooklyn recently? More»
7:16 PM 07/05/2011