(San Francisco) Foreclosures are hitting hard in all over the Bay Area, and billions of dollars worth of mortgages are going to reset to higher rates next month, Sue Kwon reports.
Getting something for low or no cost certainly sounds appealing...especially when what you`re getting is a mortgage. But are the no-closing-cost mortgages you see advertised really no cost?.
Rick Cobb, of Challenger Gray and Christmas, discusses new payroll data and the impact of the mortgage crisis on U.S. employment. (Sept. 5).
Refinancing
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Refinancing refers to the replacement of an existing debt obligation with a debt obligation bearing different terms. The most common consumer refinancing is for a home mortgage.
