Let’s face it – the housing industry never fully healed from the Great Recession. On top of that, young people are not that interested in owning a home because they have so many other options now. They are too busy wondering about their next trip or business and many hardly want to be tied down to one place. This leaves a gap in the industry and results in lower mortgage rates and to many who actually want to own a home, that’s good news.
Based on economic theory and predictions, the factors listed above should actually cause a boom in the industry as it relates to mortgage refinancing. However, the challenge lies in locking a deal even for stable homeowners. Low appraisals and rigid lending standards make it difficult for borrowers to refinance even for those in good standing as it relates to credit score and assets. One could even jump over these hurdles and still be met with lengthy waits.
But, it’s not all challenges. There’s a way for borrowers to even the playing field. This is done by fixing your credit, switching assets to your mortgage borrower, having a thorough understanding of how the new governmental programs. This will result in you increasing your chances of a good refinance deal. All you have to do is survive the process which our experts assist you with so that you can enjoy the reward.
The good news is that borrowers still have something they can do.