Florida Refinance Info
In the great state of Florida, and all around the country, homeowners are considering refinancing their mortgages. There are several reasons to refinance, and all options should be weighed out before making such a huge decision.
With the country on the cusp of a recession, the Federal Reserve has lowered interest rates, and will likely lower them again in the near future. For Florida homeowners, this could be the perfect time to make home improvements. Maybe you are thinking about adding a pool, or building on a sunroom that could double as an office. If you currently have enough equity built up in your house (equity is what your house is worth minus what you owe), then a home improvement refinance could be just the ticket.
Another potential benefit of refinancing your loan is to get a lower interest rate and therefore lower your monthly payment. If the fixed rate currently being offered by your mortgage broker is at least one percent below your current rate, then a refinance could be a good option for you. The money you save could be put away for a rainy day…not that we see too many of those in Florida!
And finally, now could be the prime time for debt consolidation. If you are paying a high interest rate on your credit cards, or need to pay off a home improvement loan, then a debt consolidation refinance could be just what you need. This particular refinance could get you out of the perpetual worry of debt, and back to relaxing on the beach.
Refinance Florida News
| Finally, a foreclosure settlement (Maybe) |
| States have until late Monday to agree to the latest draft deal aimed at relieving homeowners struggling with mortgages bigger than their home's value. |
| Home repairs: Which jobs come first? |
| Lean times call for budgetary triage. But while you should clearly opt for orthodontics before Disneyland, the choice is tougher when it comes to home maintenance. |
| Mortgage rates hit another new low |
| Just one day after President Obama detailed a proposal to enable millions of homeowners to refinance to record-low mortgage rates, those rates notched another record. |
| Obama proposes new home loan refinancing plan |
| The Obama administration on Wednesday detailed its latest plan to help millions of homeowners refinance their mortgages to today's historically-low rates. |
| Top 10 turnaround towns |
| Florida's cities were some of the hardest hit by the housing bust, but now they are leading the charge back. Of Realtor.com's top 10 turnaround towns, eight are in the Sunshine State. |
| Don't rush into REITs |
| You'd think that investors would be leery of companies that own and manage commercial real estate. Vacancy rates remain elevated in office buildings and shopping centers. Except for apartment buildings, rents really haven't grown at all in four years. And given the possibility that the global economy may retrench yet again, things could still get worse before they get better. |
| REITs to avoid |
| Investors are racing into REITs that promise higher yields than equity REITs. But be forewarned, the higher yields of these other types of real estate vehicles come with very real risks. |
| Housing: The one bailout America could really use |
| Laurie Goodman is an apolitical number cruncher who has spent most of her 28-year career out of the public view, studying the minutiae of mortgage-backed securities (MBS) for big investment banks. She's long been a star among Wall Street insiders, however. She holds the record for the most top rankings for fixed-in-come research from the trade bible Institutional Investor. |
| Become your kid's mortgage lender |
| Between slumping prices and low mortgage rates, it's a good time to look for real estate bargains. But thanks to tightened lending standards, legions of young would-be homebuyers aren't exactly in a position to take advantage of the opportunity. That's where their parents come in: One in three first-time buyers received either a gift or a loan from their families to help buy a home in 2011, according to the National Association of Realtors. |
| Home prices post steep decline |
| Home prices posted a steep, month-over-month drop in November, falling 1.3%, according to the latest S&P/Case-Shiller 20-city report. Prices fell in 19 of the 20 cities the index covers. |