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Understanding Mortgage Refinancing Points

In general, points are an optional add-on expense you can use to reduce the interest rate on your new mortgage. Each point is equivalent to one percent of the total mortgage amount. When you choose to pay, each point will reduce your interest rate, typically by one-quarter of a percent, or .25%.... Read More


Is Refinancing the Best Way to Consolidate Debt

When you have earned enough equity in your home, you have the opportunity to do a cash-out refinance. Technically this cash can be used for anything you care to buy, but by using it to pay off debt--credit cards, auto loans, student loans, medical bills, etc.--you can effectively replace those separ... Read More


Paying More to Save More: The Power of Extra Principal

Congratulations! You’ve decided to refinance. You are on the path to better interest rates, lower monthly payments, more cash in your pocket, and the promise of some serious savings over the long term. You’ve circled your break-even point in red on your calendar, and can’t wait to find all sorts of ... Read More


Should You Upgrade Your Home Before You Refinance?

So you’re thinking about refinancing your home mortgage. You know one of the major factors in determining how good a deal you can get will be the dreaded appraisal process.The appraiser is holding a lot of power over your future, so it’s wise for you to make sure that your home is seen in the most f... Read More


What You Need to Know About Refinancing Your Mortgage Online

When it comes to personal finance, you can do just about anything online — including refinancing your mortgage. Not only are existing lending institutions jumping to offer their customers virtual options, more and more online-only mortgage lenders are arriving on the scene daily. Since online commer... Read More


How Technology Can Play a Substantial Role in Refinancing Your Mortgage

As with most aspects of our lives, the entire process of purchasing a home has been revolutionized by technology. According to a joint study from The National Association of Realtors and Google, 90 percent of potential buyers use the internet to find and compare houses. While realtors were quick to ... Read More


It’s Possible to Refinance a Mortgage With Bad Credit

Even though banks have tightened up their lending standards since the housing market crashed, it’s still possible to refinance your mortgage with a less than stellar credit history. Unfortunately, refinancing gets progressively more expensive the lower your credit score is — so you should only do so... Read More


Mortgage Refinancing Checklist

Refinancing a mortgage can be an advantageous move for a lot of homeowners, but the process is not exactly simple. To know what you have in store and so you can start getting your ducks in a row, here’s a handy checklist of the information you’ll need to collect.[quad]Pay StubsWhen applying for a re... Read More


Beware of Hidden Fees in Your Mortgage Refinance

If you’ve been doing some research on mortgage refinancing you’ve undoubtedly been forewarned about the dangers of the “hidden fees”.And for good reason. No matter your circumstances or which lender you choose there are going to be some costs associated with your refinance. Now the extent to which t... Read More


Refinance Closing Costs: How Much Is Too Much?

The best things in life may be free, but a mortgage refinance isn’t one of them. Just like your initial home loan, there are closing costs associated with a refinance — and they’re not cheap. The full cost of refinancing a home depends on a number of factors, including the borrower's qualifications,... Read More


Are No-Closing Cost Refinances a Good Deal?

It’s tempting to go with a no-closing cost loan — after all, who doesn’t like free stuff? However, if it sounds too good to be true, that’s because it is. Before you accept a no-closing cost loan, you need to understand how they function, what concessions you’ll have to make, and whether or not it m... Read More


How to Avoid Mortgage Refinancing Scams

When looking to refinance your mortgage, it can be hard to tell the legitimate offers from the fraudulent ones. Scam artists are adept at playing vulnerable homeowners, and will work any angle to get what they want. However, homeowners who know what to look out for are less likely to fall victim to ... Read More


The Imaginary World Of No-Cost Refinancing

You may have heard of no-cost refinancing, as it is an option offered by many lenders. No costs! Sounds great, right?Not so much.There is no such thing as a no-cost refinance. It simply doesn’t exist. Never has, never will. That being said, not all no-finance mortgage offers are inherently shad... Read More


Refinancing a Mortgage After A Divorce

There can be any number of reasons to refinance your mortgage after a divorce, but many people do so mainly to take their former spouse’s name off of the loan and have it put into one single name. These circumstances come with their own special requirements and outcomes.In divorce proceedings, asset... Read More


What Are The Risks of Refinancing My Mortgage?

Refinancing means taking out a new home loan with different terms, and using it to pay off your existing mortgage. This means you should already understand the biggest risks associated with taking on mortgage debt, because you’ve already gone through that process at least once. That said, there are ... Read More


When Not To Refinance Your Mortgage

Whether refinancing is the right option for you really comes down to whether it is going to save you or cost you money. For the most part, this is a matter of timing--short term, and long term.[quad]Closings CostsRefinancing--and mortgages in general--always incur closing costs. This is one of the m... Read More


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