Borse Dubai May Get Half of Loan It Sought to Refinance OMX Buy

17.02.09

By Haris Anwar

Feb. 17 (Bloomberg) -- Borse Dubai Ltd. may get half of the $2.5 billion it sought to refinance a one-year loan used for the purchase of Swedish exchange operator OMX AB as lenders tighten credit for the emirate amid concern over its ability to repay.

The amount will range from $1.1 billion to $1.5 billion, according to two bankers close to the talks who declined to be identified because the negotiations are private. The loan will pay 325 basis points over the London interbank offered rate , with an additional 125 basis-point fee and 75 basis-point margin if the lenders allow for a one-year extension.

The cost of protecting against losses on debt sold by Dubai companies jumped to the highest this year on concern that neighboring Abu Dhabi may not come to the rescue. Credit-default swaps linked to Dubai Holding Commercial Operations Group LLC, owned by Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum, climbed to 1426 basis points yesterday, according to CMA pricing.

Source: Bloomberg

Tips To Secure A Low-Rate Refinance Loan

In today’s housing market, there aren’t many silver linings—except for the fact that falling interest rates mean it’s a great time to refinance your mortgage. However, as everyone else scrambles to do the same, many people are left wondering how they can ensure they don’t miss out on a refinancing ...(148 words)

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refinance?

Aug 02, 2007 by enn d | Posted in Buying & Selling

what are the steps and/or qualifications to refinance a used car?

Your credit
year - make model

Your one line question, sorry to say can only provide a short answer.

Ray | Aug 02, 2007

Don't do it. If you can't afford the payments and have to refinance then you will be upside down owing more than the car is worth. Sell the car and get one you can afford. M2C.

jkduehring | Aug 02, 2007

If you are in the middle of a loan with a high interest rate, and have made your payments on time for several months, refinancing your car can save you tons of money. Check out the following web site:

http://www.creditunion.coop/

Find your local credit union and apply. I don't suggest extending the term on the car, even if they will, hopefully a rate reduction will help.

jay | Aug 02, 2007

How fast should i refinance my car loan?

Jun 27, 2007 by rustik23 | Posted in Buying & Selling

Car loan is 17000 dollars apr is 17 %.
Dealer told me that i can refinance in 4-6 months, but i think he lied to me. Bank told me that i can refinance only once.
So 4 months passed.
SHould i try to refinance it or wait at least 12 months???
Thank you.

At that apr and assuming the 17000 was the value of the car, you will be "upside-down" for 2-3 years, i.e., your car will be worth less than the loan balance. Make double--even triple--payments as you can, or you will need thousands to refinance.

kev | Jun 28, 2007

You cannot refinance your car loan if it is less than 12 months payment recrd.Your apr indicates your credit challenges therefore, until you reestablish your self in thatloan banks, will see you as a high risk. It is best to stay with that one bankand pay it off. Bite the bullet and know that you purchased this credit. It will be easier next time around.

monkeymanhowareyou | Jun 27, 2007

Is it possible to refinance your home and include your car loans and credit card debt in the refinance?

Oct 31, 2007 by fromthecabbagepatch | Posted in Personal Finance

With no money down? This is our first home and we've owned it for 4 years and looking to refinance.

Very bad idea. You take unsecured credit card debt and a car loan and put that all into your mortgage and you'll be paying on it for the next 30 years. Stringing it out means you'll pay a lot more interest.

Many people do this but turn around and run the credit cards right back up. And of course, you will need to buy a new car long before that mortgage is paid off. Now you have that bigger mortgage and all theother debt. If you can't keep up, you could lose your home.

If you refinance, do it to lower your interest rate. That will lower your payment and free up cash to throw at that credit card debt.

bdancer222 | Oct 31, 2007

yes, if you have enough equity in the home and if you do this be sure to get rid of the credit cards and start paying with cash you wil be better off in the long run

jgilbertdo | Oct 31, 2007

You would have to have enough equity built up to cover the extra loan amount.

J.E.S. | Oct 31, 2007

You can in a way if you have enough equity. You can refinance your house and take out the extra cash if you have 20% equity in the home. Otherwise, you could get a first and second mortgage with the second mortgage being a home equity line and take the cash from that to pay down the debt. This will be very hard to do since you just bought the home 4 years ago unless home values have skyrocketed in your area or you had a substantial down payment. However, if you can do it then it is good because the home equity interest becomes tax deductible.

rockdakiss | Oct 31, 2007

You can refinance to take money out of your equity (and pay off the other loans), but you can't literally wrap the three into one new loan.

newjerseyguy | Oct 31, 2007

No.

Why don't you sell your car to pay for your credit cards?

Frank Castle | Oct 31, 2007

bdancer2 always seems to beat me to the punch but she is 200% right.

stan c | Oct 31, 2007

Is there a new refinance program that forgives negative equity and refinances the house at current value?

Dec 17, 2008 by hotguyfromrincon | Posted in Renting & Real Estate

I heard about some new government loan where if your home has dropped in value, the government will absorb the depreciation and refinance your house at its current market value. I just bought my first house in August of 2008 for $275,000 which was a foreclosure and the other foreclosed homes surrounding me are now being offered in the $240,000 range. So in 4 months I've already lost around $35,000 in value.

buddy....there are many refinance program online sources where you can get full of information and also get the refinance loan at lower mortgage interest rates and reduce your negative equity...i have the source where the option of existing loan modification and low interest rates : http://www.refinancing101.net

Mst A | Dec 17, 2008

Dude if your going to live in the property and can afford the payment, which you should be able to since you just got the loan, don't even worry about the value. You people think that you lost thousands when all that is happening is a correction in the market and all you have Truly lost is on paper (until you sell) is when you lose. Stop whining and go to work. Anyway you bought AT a terrible time and the values still have not hit bottom. That was your mistake.

Rick T | Dec 17, 2008

You heard incorrectly. The government is offering assorted help programs for those who may LOSE their homes due to taking adjustable rate mortgage loans and similar. However, the government isn't in the business of absorbing equity losses when values fluctuate. I assume you would not be pleased if our government demanded $35,000 in equity from you if your house had increased in value. It works the same way in the other direction.

acermill | Dec 17, 2008

is it possible to refinance a heloc without refinancing your first mortgage?

Sep 25, 2007 by JustSomeGuy | Posted in Renting & Real Estate

I have a good rate with my first mortage at 4.25 fixed for 15 years. I also have a heloc that is adjustible and is at about 8.5 percent right. I would like to refinance the heloc without loosing the rates on the 1st. Is there such a thing?

yep....it's called a 2nd mortgage

Carolinahomerates.com | Sep 25, 2007

YES! The only thing you may encounter is a termination fee, generally $500.
Actually, trying to refinance your first and keep a Heloc is much more complicated. The Heloc lender would have to agree to subordinate their lien.
Are you thinking of refinancing from a Heloc to a fixed rate 2nd? Remember the Fed just cut short term rates, so Prime is already down .5% and more cuts are possible.

Chuck92121 | Sep 25, 2007

Absolutely! Be weary of lenders who try to tell you different. The best thing to do is to either contact the current lender for your HELOC and ask if you can refinance it into a new Fixed 2nd mortgage or perhaps they can lock your HELOC into a fixed rate. The fees are usually less if any.
You can also try a major bank or credit union. Your rate should have gone down about .50 % with the recent rate cut, but there is no guarantee that rates won't go back up again.

Martha A | Sep 25, 2007

Yes you can w/ a 2nd mortgage and DON'T let anyone talk you into refi-ing out of that first. I have the same exact first and I would have to be insanely desperate to give it up!

Good Luck

Open Book Advisors

Open Book Advisors™ | Sep 26, 2007

Can you refinance a interest only construction loan prior to converting to conventional?

Oct 23, 2008 by Timothy M | Posted in Personal Finance

My wife and I recently moved into a new home which we are still paying interest only on the loan. We also just sold our other home and would like to put the money we made off of it down on the loan. Can we put the money down when we convert or do we have to refinance?

I assume when you say "converting to conventional" that you have a construction loan product that automatically converts to conventional financing when the construction phase is completed. Without reading the terms of your loan, it's hard to know. Some loans have prepayment penalties. Read your loan documents or ask the lender directly, and make sure it is in writing.

I used a construction loan to purchase and rehab an investment property, where the bank would convert to conventional financing. I could pay any amount toward principal at any time, but every loan is different.

AllCourt | Oct 23, 2008

How to refinance a car with horrible credit and no equity?

Oct 21, 2008 by S H | Posted in Credit

I have a brand new Ford Focus just bought it fresh off the floor and have a cosigner, but we need to refinance it now and have horrible bad credit. Can anyone help with how to refinance a car with bad credit and no equity?

You just bought it and want to refinance it? Why did you buy it at all, then? The value dropped 20% as soon as you titled it. Unless you made a big down payment, it's not gonna happen.

bud68 | Oct 21, 2008

Is it possible to refinance a home with bad credit and no job?

Jul 21, 2007 by infinite357 | Posted in Credit

Heres the situation. My mother is a homeowner and has poor credit and is not employed. The house is valued at $400,000+, the remaining balance to pay off is $260,00. She has been turned down a couple of times. So is it still possible for her to refinance or any other options? Thanks.
Me and my sister still live at home and pay her monthly to cover the house payment and all bills. We just want to get a lower monthly payment and pay some debts.

Why would anyone loan money to someone with no job AND bad credit? Think!

shelcom | Jul 21, 2007

Can I refinance my home with a good credit score but not much credit?

Jan 07, 2009 by Jersey D | Posted in Credit

I started buying my home a year ago and I didn't have credit then so I bought an owner financed home that had 12% percent fixed loan, which is why I want to refinance. My credit score is 718 but I have very little credit activity because I have never had a credit card or anything, I usually just pay cash instead of making payments. Will I be able to refinance?

Yes, it's always easier to get a mortgage, cause you can't run off with the house. I'd just call your bank with who you have checking/savings accounts. They will most likely give you the fastest response. You may have to prove that you pay stuff on time, since you don't have credit cards you can ask your phone company to write a reference letter. Check with a bank they'll tell you what they need.

NT | Jan 07, 2009

Can you refinance while your home is on the market for sale?

Jun 28, 2006 by MC | Posted in Renting & Real Estate

Our home has been on the market for a while now. We need to refinance to lower monthly payment. Can we refinance a home thats for sale?

The answer is yes you can BUT the reality is that it is hard to find a lender that will refinance your loan knowing that at any minute your home could be sold and they will waiste their time and money. Most lenders will ask you to take the home off the market before you can refinance.

Good luck!

SCCRealEstateUNCENSORED.com | Jun 28, 2006

refinance - News

Bank of America, Durst Get $1.28 Billion to Refinance NYC Tower Bloomberg

- Jun 26, 2009

Washington PostBank of America, Durst Get $1.28 Billion to Refinance NYC TowerBloomberg closely held Durst Organization almost $1.28 billion to refinance their environmentally “green” tower near midtown Manhattan's Bryant Park in New York. Durst Lines Up $1.3B Refi on BofA TowerProminent NYC skyscraper secures nearly $1.3B loanall 183 news articles »

Mortgage Group Says Fed-Fueled Refinance Boom Won't Occur Wall Street Journal

- Jun 22, 2009

Boston GlobeMortgage Group Says Fed-Fueled Refinance Boom Won't OccurWall Street JournalIt now sees $737 billion in purchase originations and about $1.3 trillion in refinance originations. The purchase origination view is based on a US mortgage applications climb from 7-month lowMBA: Mortgage applications rise 6.6% Business First of LouisvilleMortgage bankers cut U.S. loan origination forecastall 224 news articles »

Rates Low, Firms Race to Refinance Their Debts Wall Street Journal

- Jun 25, 2009

Rates Low, Firms Race to Refinance Their DebtsWall Street JournalThe rush to refinance underscores the fragility of the recent recovery in the credit markets, which has pulled up prices of risky corporate bonds and and more »

Freddie's Refinance Purchases Fall Since April Housing Wire

- Jun 26, 2009

ReutersFreddie's Refinance Purchases Fall Since AprilHousing WireFreddie's refinance-loan purchase volume totaled $40.3bn in the month, down almost 7% from $43.3bn in April despite publicized refinance programs. Freddie Mac Says May Month Refinance-loan Purchase Volume Bigger loan limit considered for 'underwater' borrowersThe Ends Justify the Means, or, Here We go Again… Again | KXNet all 108 news articles »

PMI Expands Refinance-to-Modification Program PR Newswire (press release)

- Jun 25, 2009

Northwest Asian WeeklyPMI Expands Refinance-to-Modification ProgramPR Newswire (press release)WALNUT CREEK, Calif. , June 25 /PRNewswire-FirstCall/ -- PMI Mortgage Insurance Co. announced today an expanded Refinance-to-Modification (RTM) program that Q & A: What is a mortgage loan modification? (and how can it help Mortgage Insurer PMI Broadening Loan-Modification EffortPMI Expands Refi-to-Mod Programall 54 news articles »