New Jersey HARP Refinance, also known as DU REFI Plus or the Obama Government Refinance Program. Helping homeowners with upside down mortgages.
If you owe more on your mortgage than your home is worth, you have what’s known as an underwater or upside-down mortgage. Mortgages can become underwater when property values fall, when a homeowner takes on too much debt — or often, a combination of the two. ...
When you owe more than the car is worth:The further along you are on the loan, the more likely you are to become upside down. When interest rates are high:Interest rates are at elevated levels right now, so if you have an average interest rate, you might not be able to find anything...
Bottom line:Don't conduct a cash-out refinance to buy stocks. Do always have enough cash on hand to take advantage of random investment opportunities. Do refinance your mortgage when Treasury yields fall to all-time lows. Andhold onto your property for longerif you've locked in a great mor...
The first 4-5 years of a mortgage is almost entirely interest, so your logic doesn’t add up. And if prices go down (which they will), now you’re upside down. Not a good place to be. Reply Polish Paul August 31, 2019 at 12:44 am I just refinanced into a 15 year so it...
However,this is my primary residenceand there is an obvious risk. I could also use the 100k to help buy another property here in Las Vegas, using some of the 100k for a down and rent out the property. BTW, I would be debt free other than the mortgage, have 50k available from a 401...