I just talked to a client who had read about wills in our monthly newsletter. He mentioned he recently refinanced with an on-line mortgage lender and reduced his payment by $275 a month. His rate was good and he was happy with the speed and ease of the process and when I asked him about [...]
The key question is “Did I save money by refinancing?” If you are able to get a better interest rate and save closing costs (mortgage tax, bank and title fees) does this refinance make financial sense? It is possible that the cost of the refinancing process can outweigh the monthly savings. The easiest way is [...]
Besides making you clear on the goals of your refinance your attorney should be able to review your GFE and point out where potential cost savings may occur. From suggesting potential lenders to trying to get the lender to accept a modification or assignment your lawyer’s familiarity with lending practices should help you understand the [...]
When taking a mortgage the borrower will incur closing fees. When refinancing some of the fees can be avoided as they were paid when the original mortgage was taken. To avoid some fees ask about mortgage modifications and assignment of the existing mortgage. Existing mortgage lenders can save their current borrowers money by doing loan [...]
If you can’t keep up with your mortgage payments and your house is worth less than the amount due on your mortgage, what can I do? Unable to refinance your loan and falling further behind in your payments may lead to foreclosure and loss of the property. A solution may be asking your lender to [...]
5 Myths That Can Ruin the Purchase of Your Home
