Many subprime borrowers are now finding they cannot refinance to escape their rising payments.
In 2008, the IRS announced lien relief for people trying to refinance or sell a home.
She was so upside-down on the house that no one would refinance her, she said.
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People could refinance or maybe sell the house, you know, again after the housing market stabilized.
And I fully expected to be able to refinance, and I didn't consider it an issue.
If you don't have enough money to refinance, think about getting another (or second) job.
In 2008, IRS announced lien relief for taxpayers trying to refinance or sell a home.
Too many families who never missed a payment and want to refinance are being told no.
They realize they can't afford that, but then go to say, well, perhaps I can refinance.
When consumers refinance mortgages at lower rates that puts spending money in their pockets.
It typically takes 45-60 days, start-to-finish to apply, appraise, approve and close a mortgage refinance.
So Congress should give those responsible homeowners a chance to refinance at a lower rate.
Issuers are scrambling to refinance into proper long-term bonds, or asking banks for letters of credit.
That makes them unwilling to underwrite larger deals as struggling borrowers seek to refinance.
They might think they can't refinance this because they have no equity in their home.
With rates at decades lows, I figured it would be a good time to refinance my real-estate.
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The market seized up, creditworthiness came into question and defaults due to an inability to refinance soared.
The investing in derivatives that are bets against homeowner refinance is just the tip of the iceberg.
Barack Obama's administration has tackled the first problem with plans to help homeowners refinance and avoid foreclosure.
Across the continent banks are finding it hard to refinance their own debts cheaply (see article).
If so, you may be able to get this waived if you refinance with the same lender.
Mortgages became very illiquid, for lenders subprime market and for consumers who had too little equity to refinance.
These customers did not necessarily request to refinance or modify their mortgages, so most were not expecting anything.
Now the bulk of that borrowing is to fund the government's deficit, rather than to refinance existing debt.
We've done everything that we can do administratively to help some portion of homeowners around the country refinance.
If they have debt maturing in 2012 and are unable to refinance, that could lead them into bankruptcy.
On Friday, he also mentioned proposals to give a tax break for new hires and help homeowners refinance.
Additionally, the equity required to refinance those loans will also increase, exacerbating the equity gap for those loans.
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He argues that by lowering mortgage rates, QE2 will increase housing affordability and enable more homeowners to refinance.
Unless he can refinance the loan, he may be forced to hand over his 1.5% stake in Gazprom.
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