Who Says You Can\'t Buy a Home! Usually, when borrowers want to restructure their mortgages - go from a fixed-rate to a variable rate, for example - they have to refinance, an onerous, expensive process. There are new closing costs, legal fees and title search and insurance fees that could add thousands of dollars to the mortgage principals. But the new product from Washington Mutual (Charts, Fortune 500) (WaMu), called Mortgage Plus, gives customers the ability to switch the type of loan they have without going through a refinance. Say that originally, a family is planning to spend only a few years in their new house - they may choose a low, variable rate loan. They plan to sell the home and move before rate resets to higher one.

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