Appraisal Coming Up? Here's How to Optimize It

Ten Tips to Up Your Home’s Value During the Appraisal is a good review of what matters to an appraiser, and therefore to you if your home is being appraised for a sale or refinance. - David

Unexpected Happenings: A Cash-in Refi? Standard Sale of an Underwater Property?

Here's a new term for you: a Cash-in Refinance. It's not a recommendation, but an interesting concept whereby homeowners wanting to refinance their homes but having little or no equity actually contribute new funds at the time of the refi. It's one way to take advantage of the amazing rate environment we're experiencing, and there are scenarios where this actually generates a positive return.

Another approach, if you are slightly underwater, is to pay the difference on sale of your home, in order to preserve your credit while getting highly favorable loan terms and a great price on a trade-up property.

More info: Doubling Down on Housing - WSJ.com

-David

Refinancing: FHA vs. Conventional

With rates the way they are at present, it's tempting to consider refinancing into a conventional mortgage.  This may or may not be necessary to eliminate your mortgage insurance, and of course it requires considerable equity.  - David

More Info: Refinancing into a conventional mortgage

Fed Meets, Rates Hold, Time to Refinance

In this MarketWatch video, a BankRate expert explains the importance of locking in low fixed rates while the Federal Reserve keeps rates low (as they reaffirmed today).  This is smart advice in an environment of rates that are low for now but can only go up. - David

Is it time to give up your adjustable-rate loan? - MarketWatch

If your credit is strong, your mortgage is above water, and you have an adjustable rate mortgage, you have a very important decision to consider.  While fixed rates are still low, and all rates are poised to increase, it may be time to lock your rate instead of riding the yield curve as it shifts upward.

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U.S. MBA Mortgage Applications Index Increased 21% Last Week - Bloomberg.com

In the absence of purchase money, low rates and refinancing have driven up mortgage applications dramatically. - David

U.S. MBA Mortgage Applications Index Increased 21% Last Week - Bloomberg.com

Week-to-week mortgage applications rise 14.3%: MBA - MarketWatch

Rates on fixed rate mortgages slightly DOWN, rates on adjustable rate mortgages slightly UP, number of mortgage applications UP, but about 70% of those are refinances (good time to be looking at that). - David

Week-to-week mortgage applications rise 14.3%: MBA - MarketWatch

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