The Secretary shall also, as soon as practicable, take all steps necessary to examine the effects of the September 24, 2020, rule entitled "HUD's Implementation of the Fair Housing Act's Disparate Impact Standard" (codified at part 100 of title 24, Code of Federal Regulations), including the effect that amending the February 15, 2013, rule entitled "Implementation of the Fair Housing Act's Discriminatory Effects Standard" has had on HUD's statutory duty to ensure compliance with the Fair Housing Act. Based on that examination, the Secretary shall take any necessary steps, as appropriate and consistent with applicable law, to implement the Fair Housing Act's requirements that HUD administer its programs in a manner that affirmatively furthers fair housing and HUD's overall duty to administer the Act (42 U. 3608(a)) including by preventing practices with an unjustified discriminatory effect.
You may be able to access equity: If your emergency fund balance is low, a cash-out refinance could allow you to tap some of your equity to bolster your savings, which can come in handy during an unpredictable economic situation. This can especially be a good option if your home's equity has increased dramatically since you first purchased the home. IS IT WORTH IT TO REFINANCE FOR 1 PERCENT? Despite these benefits, there are also some pitfalls to keep in mind, whether you're considering a mortgage refinance for 30 years or 15 years: It may be tough to qualify: If your financial situation has changed because of the pandemic, it may be challenging to qualify for a home refinance. Even if your situation hasn't changed yet, consider the odds of it happening in the near term. Getting laid off or furloughed in the next month or two could negatively impact your mortgage refi application. Closing costs may neutralize your savings: Scoring a lower interest rate or longer repayment term can help you save on mortgage payments.