From: “Home Mortgage Program”<Daniel@vsbao8.info>
Reply-To: Daniel@vsbao8.info
Subject: Mortgage Rates From 2.65%
Date: Fri, 03 Aug 2012 21:05:23 -0400
To: xxxxxxxxxxxxxxxxx

There has never been a better time to refinance your mortgage.

Rates are at record lows. The government is devising new programs to help homeowners. The economy and job market are improving, albeit slowly.


In theory, those factors should be producing a boom in mortgage refinancing. But locking in a deal is proving to be a challenge these days — even for well-heeled homeowners.


That is because low appraisals and tight lending standards are making it difficult for many borrowers to refinance, even if they have good credit and substantial assets. Even those who meet these hurdles can face frustrating waits.


The good news is that borrowers aren’t powerless in the process. By shifting assets to your mortgage lender, cleaning up your credit and understanding the new government programs, you can improve your chances of scoring a good refinance deal.


Powerful Lure: Today’s interest rates are a powerful lure even for homeowners who bought or refinanced a home recently. The average rate on a 30-year fixed-rate conforming mortgage is 3.84%, down from 4.22% in mid-March and the lowest level in at least 60 years, according to HSH.com.


Homeowners can save a bundle. At current rates, someone who took out a $400,000 mortgage in May 2011 at 4.75% could shave more than $200 from his monthly payment, according to HSH.com.


The latest drop in rates has created a big pool of potential borrowers. All told, about 20.5 million homeowners have mortgages with rates above 5% and are current on their loan payments, according to real-estate data and analytics company CoreLogic, making them good candidates for a refinance. Another 12.9 million have rates between 4% and 5%.