finance

Can’t refinance without mortgage

You can’t fund renovations with a refinance if there’s no outstanding mortgage on the house.

Question from a reader:

We are planning to remodeling / renovating our house. We paid off our mortgage loan last year and don’t have any major debts. However, we do have some monthly expenses that we use our credit cards for. Our credit score is pretty good.

We need about $200K for the renovating our house. However, we don’t have a loan on our house, so cannot refinance. What would be the best option? A home equity loan or a HELOC? or something else?

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Can’t refinance without mortgage

Mortgage rates are back near record low

Turmoil in the stock market and the European debt crisis are making life easier for American homebuyers and families looking to refinance: Mortgage rates are inching closer to a record low.

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Mortgage rates are back near record low

Mortgage rates at lowest level of year

Reuters | U.S. mortgage rates continued their downward trek in the past week, edging closer to a record low set in early December, according to a survey released on Thursday by Freddie Mac, the second-largest U.S

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Mortgage rates at lowest level of year

U.S. MBA Mortgage Applications Index Rose 11.3% Last Week

May 26 (Bloomberg) — The number of mortgage applications in the U.S. rose last week by the most in a month as homeowners took advantage of borrowing costs close to a record low to refinance.

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U.S. MBA Mortgage Applications Index Rose 11.3% Last Week

Is Now the Time to Refinance Your Mortgage?

Mortgage rates are nearing a 50-year low.

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Is Now the Time to Refinance Your Mortgage?

Mortgage Rates at New Lows, Thanks to Europe’s Debt Crisis

“It’s the best time in our generation to buy,” says Mark Zandi, chief economist at Moody’s. “Mortgage rates are so low and with homes prices down and lots of inventory, you couldn’t pick a better time to buy or re-finance.”

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Mortgage Rates at New Lows, Thanks to Europe’s Debt Crisis

PRESS RELEASE: Fitch: Kion Mortgage Finance PLC Ratings

PRESS RELEASE: Fitch: Kion Mortgage Finance PLC Ratings

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PRESS RELEASE: Fitch: Kion Mortgage Finance PLC Ratings

Chase slow to process Summit woman’s mortgage refinance

Frank H. Conlon/For The Star-LedgerKristina Ricicki has been fighting with Chase over a fee she paid to refinance the mortgage for her Summit home

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Chase slow to process Summit woman’s mortgage refinance

IMLA warns mortgage dilemma will hinder recovery

Dr Peter Williams, executive chairman of the trade body, says the new government is facing a complex dilemma over housing supply, mortgage finance supply and whether to stimulate the market. If ignored for too long all could impact on the UK’s economic recovery.

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IMLA warns mortgage dilemma will hinder recovery

Senate tackles mortgage finance in bank bill

The Federal Reserve scored a victory and mortgage bankers suffered a defeat on Wednesday as the Senate took aim at bank supervision and housing finance in its sprawling Wall Street reform effort.

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Senate tackles mortgage finance in bank bill

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