What to do about our foreclosure mess?

I came across a fairly good an opinion piece on the foreclosure mess. It was constructed by Fritz Pfister and can be found at this link.

I have a better idea. Instead of stealing money from responsible,
productive citizens to be redistributed, try this; waive all federal taxes for families facing default if their loans will adjust to a level
they cannot afford. These families would then be able to afford to pay for their
homes instead of sending the difference making money they have earned to D.C. to
be squandered on big government programs.

Should I or Should I not refi my home?

This article is all about asking yourself is it really worth it to refi your home or not?

Click Here For The Story

RATES ARE LOW!!

Yahoo (source) just posted another article talking about how low mortgage rates are. The catch-22 is that it’s not for all homeowners, only those who have equity and good credit scores.

If you are a person with a 700+ credit score, full-doc, w/more then 20% equity then you are eligible for outstanding mortgage rate. Please keep in mind, that paying off debt or cash-out on equity, you will be looking at a higher rate then advertise. Expect to see a .5% - 1% hit to your rate.

If you’re a person with a 640+ fico, full-doc and less then 20% equity there still might be hope for you. Currently FHA programs allow higher LTV’s and the rates are starting around 5 – 5.5%

If you’re a person who is self-employee and obtain a stated mortgage to purchase a house, as of now you’re out of luck. I do think that this product will come back, but as of now your options are limited. If you are having a hard time paying your mortgage, contact your mortgage servicer and find out if you can work out a loan mod.