Sentences with phrase «mortgage than your home»

(Late last year, 39 % owed more on their mortgage than their home was worth.)

If you have limited or no equity or owe as much or more on your current mortgage than your home is worth, then you might find the government's HARP program helpful.

If you owe more on your mortgage than your home is worth, you can still refinance with an FHA Streamline.

According to analytics firm CoreLogic, 10.8 million homeowners remain underwater (meaning they owe more on their mortgages than their homes are worth), representing 22 % of all mortgages in the country.

Cash - out refinancing can be risky; if home values drop, you could owe more on your mortgage than your home is worth.

In the current market, this may be easier said than done, especially if you happen to owe more on your mortgage than your home is worth.

Here's a simple definition: If you owe more on your mortgage than your home is currently worth, you are upside down in the loan.

That means they owe more on their mortgages than their homes are worth.

FHA Commissioner David Stevens has characterized the FHA short refinance program as the «single most effective way» to assist homeowners owing more on their mortgages than their homes are worth, but mortgage lenders are lagging in their participation.

Professor Andrew Caplin of NYU and a co-author of the study, asserts that the FHA audit failed to consider the risks created by FHA borrowers who owed more on their mortgages than their homes were worth, and who were allowed to refinance to new FHA loans.

To put it another way, you qualify for lien stripping in chapter 13 bankruptcy if an appraisal shows you owe more on your first mortgage than your home is worth.

As promised last month by the regulator of the two government - sponsored mortgage companies, changes to the Homeowner's Assistance Refinance Program (HARP) are now in place which may enable more than 1 million homeowners who owe more on their mortgages than their homes are worth to refinance at today's very attractive interest rates.

Many homeowners now owe more on their mortgage than their home is worth.

HARP is available to homeowners who owe more on mortgages than their homes are worth.

The Home Affordable Refinance Program is another option if you owe more on your mortgages than your home is worth.

HUD will release the Federal Housing Administration's new Short Refinance program, which is designed to help facilitate mortgage refinancing by borrowers who are underwater, meaning they owe more on their mortgage than the home is worth.

Americans Owe More Than Their Homes are Worth Even though the worst days of the housing crisis are behind us, many Americans owe more on their mortgages than their homes are worth.

As homeowners became unable to pay back their mortgages, they often owed more on their mortgage than their home was worth.

Only when a home is «underwater» — meaning the borrower owes more on the mortgage than the home is worth — will he or she potentially face a deficiency judgment after a foreclosure.

Other programs can offer options if home ownership is no longer affordable or desirable for you, you're unemployed, or you owe more on your mortgage than your home is worth.

Protects you from owing more on your reverse mortgage than your home is worth.

If your property values declines significantly, you could end up owing more on your mortgages than your home is worth.

Owing more on a mortgage than your home is worth creates problems including inability to relocate for a new job, and losing potential buyers when mortgage lenders take forever and a day to approve a short sale.

According to CoreLogic, a mortgage data company, 11.1 million borrowers were under water — meaning they owed more on the mortgage than the home was worth — as of the end of 2011.

While I understand that an asset suddenly losing a huge chunk of its value is an upsetting event, I don't see why owing more on a mortgage than a home is worth is so specifically feared.

It seems like a great strategy when the market is going up, but prognosticators giving that advice are nowhere to be seen when the stock market drops 40 %, home values fall 40 %, and their investment advice leaves homeowners owing more on their mortgages than the home is worth.»

She said the company «has found that many homeowners who owe considerably more on their mortgages than their homes are worth [i.e., underwater] are reluctant to accept a solution... without an accompanying reduction in the balance due on the loan.»

By 2009, 50 % of those subprime mortgages were «underwater», meaning that borrowers owed more money on the mortgage than the home was worth.

«Twenty percent of Bay Area homeowners owe more on their mortgages than their homes are worth, according to a study being released today.

If you owe more money on your first mortgage than the home is worth, there is the probability that the second mortgage can be declared unsecured debt.

While Phoenix has had a 19 percent yearly gain in home prices, prices still remain far from their peak and many owners still owe more on their mortgage than their home is worth.

The number of home owners who owe more on their mortgage than their home is currently worth has dropped from 12.1 million to 7.1 million as of the second quarter of 2013, according to the latest housing scorecard from the Obama administration.

Eight years after the 2008 debacle, more than 3 million homeowners still owe more on their mortgages than their homes are worth.

This economy has produced thousands of sellers whom owe more on their mortgage than their home is worth.

• FHA Streamline Refinance: If you owe more on your mortgage than your home is worth, or your current mortgage rate is higher than today's mortgage rate, then this is a good option for you.

Additionally, 28 percent of buyers consider purchasing a short sale — a home listed by a seller who owes more on their mortgage than the home can fetch.

That's because lots of homeowners in these communities are underwater, meaning they purchased homes during the real estate bubble and now owe more on their mortgages than their homes are worth.

The total number of mortgaged homes in negative equity — those who owe more on their mortgage than their home is currently worth — dropped to 2.5 million homes, or 4.9 percent of all mortgaged properties in the fourth quarter of 2017.

Adding to the housing shortage, millions of home owners are still underwater — meaning they still owe more on their mortgages than their home is currently worth.

• 96 percent of homeowners are happy with their decision to own and 84 percent who are «underwater,» or owe more on their mortgages than their home is worth, expressed the same sentiment.

Several factors continue to hold back a major turnaround in housing, including a weak job market, tight mortgage lending standards and the huge number of homeowners who owe more on their mortgages than their homes are worth, leaving them essentially stuck in their properties.

And some owners can't sell their homes because they're still «underwater» after the recession — 2.5 million people owe more on their mortgages than their homes are worth, according to CoreLogic, a company that researches the real estate market.

Home owners» negative equity: About a third of home owners are underwater, owing more on their mortgage than their home is currently worth.

The number of homeowners who are «underwater,» meaning they owe more on their mortgages than their homes are worth, is down more than 40 percent from its peak.

About one in four home owners are underwater in the country, owing more on their mortgages than their homes are currently worth.

Not exact matches

If you only put 5 % down on a $ 450,000 home and prices dropped by 20 %, your home would be worth less than the amount you owed on the bank — and this could spell trouble when it came time to renew your mortgage.

As of Jan. 1, home buyers with a down payment larger than 20 per cent seeking a mortgage from a federally regulated lender are now subject to a financial stress test.

For many, there's nothing better than the family home — especially if the mortgage is paid off.

Such rates will generally be higher than what home buyers currently pay, not only because banks now offer substantial discounts from posted rates, but also because many buyers (40 % according to a July 2011 TD Bank report) take mortgages with variable rates, which are lower than fixed rates at least 85 % of the time.

That ratio, it bears noting, only compares rent to mortgage costs; it doesn't include the various expenses entailed in home ownership — taxes, maintenance, insurance — that can more than double the monthly outlay.