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7 Results for Tag: refinance

Why Do People Refinance Their Homes?

People refinance their homes for many different reasons. Depending on your personal circumstances, it can sometimes make sense to refinance. For instance, you may be able to get a lower mort

Home Equity Loan

DefinitionA home equity loan is a type of loan in which the borrower uses the equity of his or her home as collateral. The loan amount is determined by the value of the property, and the val

Making Home Affordable

DefinitionThe Making Home Affordable program of the United States Treasury was launched in 2009 as part of the Troubled Asset Relief Program. The main activity under MHA is the Home Affordab

Rate And Term Refinance

Rate And Term Refinance What is 'Rate And Term Refinance' The refinancing of an existing mortgage for the purpose of changing the interest and/or term of a mortgage without advancing new m

Underwater Mortgage

Home Ownership by Country Underwater Mortgage Underwater mortgage is a mortgage loan whose balance is higher than the fair market value of the home. In other words, a mortgage is said to be

Land Contract

DefinitionA land contract — often described by other terminology listed below — is a contract between the buyer and seller of real property in which the seller provides the buyer financi

VA Loan

DefinitionA VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs. The program is for American veterans, military members currently s