SAVING MONEY WHEN YOU REFINANCE YOUR MORTGAGE April 29, 2009

Before attempting to refinance your mortgage a homeowner should make do three things-clarify your refinancing goals, investigate several lenders and make sure you are in fact saving money.  Whether your goal is to reduce your payments, borrow additional money for other uses or change your mortgage from an adjustable to a fixed rate, you need to be clear.  To be sure that your refinance will meet your goals homeowners must look at three factors BEFORE starting the process.  Without a true understanding of INTEREST RATES, CLOSING COSTS and MORTGAGE TAXES, the potential savings from a lower mortgage rate may be lost.  Your attorney can explain the best way to determine these costs and whether or not a refinance is appropriate. Speak to your attorney or accountant before beginning the process.

Steven Decker is a New York Personal Injury attorney specializing in New York real estate law , New York business law, and New York franchise law. You can visit his Law Firm Decker, Decker, Dito and Internicola website by clicking here, download his FREE New York Car Insurance book, or call him at 718-979-4300 or 1-800-310-5520 for a free case analysis.

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