Welcome to Loan Refinancing Guide
Equity Home Loan Refinancing Washington Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
from:Automobile Loan Refinancing and You
Automobile loan refinancing is a smart move if you want to lower your APR; by refinancing you can borrow money to pay your present car loan off and then pay off the new loan, and save money in the process. If your credit is good you won’t have a problem getting automobile loan refinancing; and if your credit is not so good, you still will be able to refinance if you go to the right lender, because there are lenders that specialize in bad credit loans.
Automobile loan refinancing is all about you; you wouldn’t refinance unless you stood to gain from it. If everything was perfect with your original car loan, you wouldn’t think of refinancing; however, most car buyers don’t know what they are getting into when they finance their car through a dealership. They will be locked into a very high APR, and by the time the first payment is do, they often wish they had not been in such a hurry to finance that way. It is better to secure your financing somewhere else, but since most people don’t, they will either continue to pay the existing loan off, or they will do the smart thing and refinance.
You cannot refinance if you are upside-down on your loan, meaning that you owe more than the car is worth. To avoid being turned down for automobile loan refinancing, be sure to refinance within the first two years of your present car loan. There is an exception to the two year rule though, if you are presently upside-down on your present loan, you can make extra payments, so that that the amount owed on the loan is less than the car is worth. Once your car is worth more than you owe you can then refinance, no matter how old your car is, as long as it isn’t older than a 1998 model car.
Automobile loan refinancing is not like home refinancing. With a home you can tap into the equity of your home and borrow up to 80 percent of the equity, but not so with a car. A car depreciates in value once it is driven off the car lot. You cannot refinance for more than $7,500.
Although bad credit isn’t too much of a problem with automobile loan refinancing, you would be only qualified for a subprime interest rate, which is much higher than prime. A bad credit history will follow you around for 7 years, and a bankruptcy can stay on your credit history for up to 10 years. To avoid a subprime interest rate, it is always helpful to clean up your credit before applying for an automobile refinance loan. Though your credit might have been marred when you took out your original loan, you can improve your credit rating by making your payments on your new automobile loan refinancing, on time every month, this means don’t be late or miss a payment even once. By improving your credit score, you increase your chances of getting a lower interest rate, and that’s a good thing.
Equity Home Loan Refinancing Washington Specific links
Equity Home Loan Refinancing Washington News
White House and Senate Democrats Push Wider Refinancing Effort - BusinessWeek
 Kansas City Star | White House and Senate Democrats Push Wider Refinancing Effort BusinessWeek Homeowners with more equity should be allowed to participate and risk should be waived for lenders who refinance loans now handled by other servicers, HUD Secretary Shaun Donovan said today in Washington. “A homeowner who actually has more equity in ... Senate Democrats push to ease home refinancing |
Obama Shifts Back to Economy After Fundraising Swing - BusinessWeek
Obama Shifts Back to Economy After Fundraising Swing BusinessWeek The Home Affordable Refinance Program, known as HARP, reduces some fees and waives risk for lenders who refinance loans that they service for borrowers with less than 20 percent equity in their homes. Before making remarks, Obama visited the Reno home ... |
Washington Refinancing Expert Explains New Home Affordable Refinance Program - SBWire (press release)
 eNewsChannels | Washington Refinancing Expert Explains New Home Affordable Refinance Program SBWire (press release) Washington Refinancing Expert Kenton Becker explains all about the revamped government program that provides refinancing options to homeowners who owe more on their mortgage that their house it worth called HARP 2.0. Menendez, Boxer Introduce Bill To Help Responsible Homeowners Refinance |
HUD: 750000 borrowers helped with Obama refi plan - MarketWatch
HUD: 750000 borrowers helped with Obama refi plan MarketWatch By Ronald D. Orol, MarketWatch WASHINGTON (MarketWatch) — Even as roughly 750000 borrowers who have no equity in their homes have benefited from an expanded White House refinancing program, more needs to be done, a top housing regulator said Tuesday. |
Merkley's "Rebuilding Equity Act" Bill Would Help Homeowners Refinance ... - LoanSafe
Merkley's "Rebuilding Equity Act" Bill Would Help Homeowners Refinance ... LoanSafe Jeff Merkley) - Washington, DC- Today, Oregon's Senator Jeff Merkley introduced the Rebuilding Equity Act, a bill that will lower costs for some homeowners seeking to refinance through the Home Affordable Refinance Program (HARP). |