Refinancing to Current Mortgage Rates: What About Home Equity Loans?

The Greensboro, North Carolina News & Record reports that homeowners wishing to refinance to current mortgage rates are meeting roadblocks put up by their home equity lenders. Here's why this can occur. Refinancing: Understanding Real Estate Liens When you take out a home loan, your mortgage company encumbers the title to your property by recording a lien against it. Before your primary mortgage loan was approved, your lender obtained a title search to verify clear title to your property. Clear title means: There are no unpaid mortgages against your property. Property taxes and assessments are paid current. There are no other title encumbrances (mechanic's liens, IRS liens, etc). Your primary mortgage lender records its lie... Read More >>

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