Comments on: Noodling Over a Mortgage Refinance

By: mortgage rates

mortgage rates — Tue, 23 Aug 2011 21:43:09 +0000

Refinancing your home can be a difficult choice…shall we start over or keep on the same track. If it involves home improvements I would suggest a second or HELOC loan and if it is for the rate, then it will be up to you.

By: Daniel R.

Daniel R. — Tue, 01 Feb 2011 04:25:22 +0000

Thanks a lot for the advise about not necessarily having to refinance to get out of trouble. Some however have had to take jobs that don't provide enough to pay their mortgage. This site has some great ideas for getting help with this. Stop Mortgage Foreclosure Now

By: Mark Harris

Mark Harris — Wed, 26 Jan 2011 19:24:51 +0000

Its like you read my mind! You seem to know so much about this, like you wrote the book in it or something.

Very Nice website. I recently built mine and i was looking for some design ideas and your website gave me some.

Thank you
Mark Harris
http://www.americanfinancing.net
social@americanfinancing.net

By: Bad Credit Mortgage Refinance

Bad Credit Mortgage Refinance — Mon, 19 Oct 2009 01:40:16 +0000

Great site here. Very informative. Generally even a 1 pt or lower is a good time to refinance, however each persons plan of action and situation is different. It all depends what stage of the game your at. As far approaching retirement, money still owed etc. .-= Bad Credit Mortgage Refinance´s last blog ..Getting help with Obama's Loan Modification & Mortgage Refinance … =-.

By: Bad Credit Mortgage Lender - What to Look For

Bad Credit Mortgage Lender - What to Look For — Fri, 14 Aug 2009 04:23:56 +0000

Many people feel that if they have bad credit then they will be unable to get approved for a mortgage. Bad credit can be caused by many thing such as a prior foreclosure or bankruptcy, not meeting your monthly repayments or even identity theft. Whatever the reason there is no reason why you cannot get the home loan you want. In this article I will explain how to do this and ensure you get the best possible rate.

The great thing about the so called credit crunch and housing price crash is that real estate prices are now cheaper than they have been for many years. If you have bad credit this means that real estate that was way out of your price league a couple of years ago may now be affordable.

One of the best ways to improve your credit is to get a mortgage and pay it off. You need to start repairing your credit today in order to ensure you get the lowest possible rate when applying for a mortgage. A very simple yet effective way of doing this is to take out a couple of credit cards or store cards, spend very little on them and ensure you pay off the full balance each month.

By: loan consolidation

loan consolidation — Wed, 01 Apr 2009 08:54:57 +0000

Mortgage refinancing is the best option if you have mortgage loan that you can’t afford to pay because of high interest. Refinancing can lower the rates of your loans.

By: home loan rate/s

home loan rate/s — Wed, 25 Mar 2009 10:40:35 +0000

Hi,

Nice article….Mortgage refinancing is a difficult process for anybody. Luckily, it doesn’t have to be. The first thing you should know about refinancing a home mortgage is that mortgage lenders are greedy. After all, the more they make off with you the more they get to bring home. The best thing you can do is arm yourself with as much information as possible prior to the mortgage refinance.
home loan rate/s

By: John

John — Tue, 24 Feb 2009 03:26:01 +0000

@Veronica – I would LOVE to get into a 15 year mortgage and yes the overall goal is to increase net worth. My problem currently is that, though house prices have not fallen nearly as much in our area as in some other areas, they have gone down recently and I am nowhere near 20% equity (I’m probably not even near 0% right now!). So, it would go beyond our cash savings to get to 20% and with our mutual funds and all down, too, I’m not want to cash those out now either.
It is awesome that you guys were able to lock in a super low rate and shorter mortgage term. That should really pay off handsomely down the road.

By: Veronica

Veronica — Mon, 23 Feb 2009 13:21:11 +0000

My husband and I refinanced our mortgage about 5 years ago after being in our home for only 18 mos. Here were the motivating factors: 1. The interest rate was the lowest had ever seen (4.35% w/no points) 2. The payments were a few hundred dollars higher but ultimately that is applied to principal, which is to our advantage. 3. We had to pay closing cost but I figured that we saved enough in interest to recover that cost w/in 24 mos. 4. It is amazing how quickly you pay down your mortgage and decrease the amount of interest you pay each year. Have you considered using enough personal savings to cover the 20% and avoid PMI? I recommend locking in a low rate for 15 years (you know Dave Ramsey would tell you to do the same.) If your goal is to increase net worth – aggressively increasing your equity and decreasing interest payments will have a huge impact.

By: John

John — Fri, 06 Feb 2009 03:08:47 +0000

@THR – I would love to get totally debt free but I just don’t see that happening anytime soon. I’m not sure on exactly how much principal will be left after the 5.5 years – that’s the topic for a spreadsheet and my next blog posts. My current rate looks pretty high now – 6.625%

@Anthony – The basics of the Money Merge Account involve getting a home equity line of credit and periodically shifting some of the mortage over to the HELOC according to what the software tells you, right? Alas, I do not think that I even have enough equity to get a HELOC at this point in time.

@Kenneth – Good point…I’ve only dabbled in looking at refinance rates to date…my lack of equity is seriously limiting my options.

By: Kenneth Quinn

Kenneth Quinn — Thu, 05 Feb 2009 07:11:18 +0000

When you are ready to refinance your mortgage you are ready to start the research on securing the best refinance mortgage available in the market. Research is the key to securing the lowest refinance mortgage rates.

By: Anthony

Anthony — Thu, 05 Feb 2009 01:08:52 +0000

Have you heard of the Money Merge Account (MMA)? It is a great way to pay down your mortgage (without refinancing) in record time. It also shows you how to best pay off all of your additional debts, making it an amazing financial planning tool. The cost to enroll is far less than the cost of a refinance (especially at the numbers you’ve quoted). Best of all the system works with any future home you may purchase as well.

By: The Happy Rock

The Happy Rock — Wed, 04 Feb 2009 18:41:13 +0000

How much mortgage will you have remaining after the 5.5 years and are you going to aggressively try and get totally debt free? Also what is the current ARM rate? The Happy Rock´s latest blog post...Screw Saving Money…I Want a Snowblower!