Posts Tagged ‘mortgage refinance’

5 Costly Mortgage Refinancing Mistakes to Avoid

Mortgage refinancing has several great benefits if used properly.

If you don’t use good judgment, you might be in for a costly mistake and may place your entire house at risk.

Here are 5 costly mortgage refinance mistakes you must avoid.

Mistake #1: Not locking in your rate

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Mortgage Refinance With No Closing Costs?

How do they do a mortgage refinance with no closing costs?

Every time you do a mortgage loan there are costs associated with it. There is an appraisal to determine value, title work to make sure there are no defects in the chain of title, government fees to register the paperwork, notary fees, underwriting fees to underwrite the loan. All of these people that do work on your loan need to be paid.

So how is it that some mortgage companies advertise no closing cost mortgages? Since there are costs of doing the mortgage how do they get paid?

The way the mortgage market is set up similar to any other retail operation with the mortgage being the commodity.

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Free Debt Consolidation Quotes?

Did you know you can get a number of free debt consolidation quotes online at one time?  You simply enter your figures into a form, and a number of lenders will compete for your business.  In just minutes, you will have 4 to 12 free debt consolidation quotes to choose among.

If you have a number of bills – credit card, medical, auto payments, etc. – one of the smartest things you can do is consolidate them into one loan.  Almost always, the total interest will come out less than the interest you would pay on the little bills.  You will also pay less overall each month.  That’s why you owe it to yourself to get free debt consolidation quotes today.

With debt consolidation, all of your bills are merged into one larger loan.  You can either secure this loan against your house (a home equity loan) or take out a personal or signature loan.

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