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Home Refinancing

Refinancing

Douglas Keister/Getty Images For nearly ten years, the Home Affordable Refinance Program (HARP) helped underwater homeowners refinance to lower rates, save money and build equity in their homes. Although the HARP mortgage program ended in 2018, two new federally-backed initiatives for high loan-to-value (LTV) ratio mortgages offer...
Lisa J. Goodman/Getty Images Buying a home is a major milestone, but it’s not the end of the journey. You might decide to refinance your mortgage in a few years or even later. Here’s how to do that and what to expect. What is mortgage refinancing? Refinancing a...
Doug Menuez/Getty Images A cash-out refinance allows you to shake some money out of your home’s equity by borrowing more than you owe. It’s a popular move. More than half of homeowners who refinanced during the first quarter of 2017 cashed out some equity, according to a...
Martin Leigh/Getty Images If you’re “underwater” with your mortgage — that is, you owe more than your home is worth — you still have time to refinance under a government program that can cut your monthly payment. But you have to weigh the potential savings against your...
Camerique/ClassicStock/Getty Images Homeowners who owe more than their house is worth still have some options for refinancing their mortgage. The options are more limited today because home values have largely recovered and most homeowners are no longer “underwater” on their mortgages. But there are a few ways...