Refinance Article Archive 2006

Avoid Common Mortgage Mistakes

By:

Greg Mischio - MortgageLoan.com | November 17, 2006

The musician, Sting, once accurately crooned, "History will teach us nothing." His lyric particularly applies to the mortgage refinance market, where generations of consumers repeat the same mistakes. However, if you can break away from the pack and learn from the miscues of others, you'll avoid costly mistakes on your home loan.

Boost your Home's Equity with a Mortgage Refinance

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MortgageLoan.com | November 15, 2006

By restructuring your loan through a refinance, you can drastically increase the amount of money that goes toward the equity in your home. And you'll simultaneously shrink the amount of interest that you're required to pay. A mortgage refinance can provide a twofold strategy for increasing your net worth.

Refinancing without stress

By:

Greg Mischio - MortgageLoan.com | October 21, 2006

Nothing ruins a good night's sleep like financial stress. If you find yourself tossing and turning until the wee hours of the morning because you need extra cash, consider tapping into your home's equity. Yes, there's been plenty of talk about today's rising interest rates, but keep it in perspective: Refinance rates are still at historically low levels. If you follow this low-stress checklist, you can get a mortgage refinance that can provide you with both cash and a good night's sleep.

Finding the Best Refinance Rates

By:

Greg Mischio - MortgageLoan.com | October 19, 2006

In the blockbuster Raiders of the Lost Ark movie trilogy, swashbuckler Indiana Jones is always risking life and limb as he tries to uncover booby-trapped archeological treasures. Fortunately for homeowners, the search for spectacular mortgage refinance doesn't require the same high-stress adventures. With a home computer, and some basic knowledge, you can raid the lending world and find the best rate around.

Refinancing Your Home: Know the Process

By:

Greg Mischio - MortgageLoan.com | October 13, 2006

The shortest distance between two points is a straight line. When it comes to a mortgage, you can create your own "straight line" by making the process of refinancing your mortgage an efficient one. This involves shopping around for the best loan rate; selecting the loan package that's right for you; and gathering all the documents your lender will need.

Refinancing? Get a Head Start on Your Lender

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MortgageLoan.com | October 06, 2006

Approving loans for consumers is the bread and butter of mortgage companies, which exist to land-shall we say-plenty of bread. If you understand how the loan process works, you can prepare in advance and have a speedy and headache-free refinance.

Refinance with an Option ARM

By:

MortgageLoan.com | October 05, 2006

The "option" adjustable-rate mortgage ("ARM") is a relatively new type of mortgage created specifically for those who enjoy more control over their monthly payments. Not only does the loan have the typical features of an adjustable rate mortgage, it also offers additional options for paying interest plus principal, interest only, or only partial interest.

Refinancing to a New ARM

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MortgageLoan.com | September 20, 2006

Mortgage borrowers are arming themselves with a new perspective on home loans. Instead of instinctively reaching for the 15- or 30-year mortgage when it comes time to a mortgage refinance, borrowers are warming to the notion of adjustable rate mortgage (ARMs). Complete with low introductory interest rates, ARMs allow borrowers to stretch their dollars and afford bigger mortgages. It's giving rise to a new viewpoint on home loan refinancing.

Refinancing: What's the Right Amount for You?

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MortgageLoan.com | August 28, 2006

If money talks, then most homeowners wish those lovely little greenbacks would tell them exactly how much money they should borrow when refinancing a home. Unfortunately, your cash won't give you any hints about how big or small your mortgage loan should be. It's entirely up to you to figure it out. While the number of lending options on the market may appear confusing, there are some pretty straightforward ways to figure out what loan size is right for you.

Refinance with a fixed-rate interest only mortgage

By:

MortgageLoan.com | August 28, 2006

Rising interest rates tend to restrict the lending options of homeowners. When rates spike, 15- and 30- year loans become less attractive. Things get particularly bad when the gap between long-term and short-term rates narrows; this results in higher rates for Adjustable Rate Mortgages (ARMs), which are known for great introductory rates. With lending options limited, cash-strapped homeowners may turn to another option: The fixed-rate interest only mortgage.

Refinancing? Five Questions to Ask Your Mortgage Lender

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MortgageLoan.com | August 28, 2006

The Captain and Tennille, pop stars from the 70s, had a big hit with their catchy ditty "Shop Around." For homeowners who want to refinance, that song is just as applicable to picking a mortgage lender as it was to finding Mr. or Ms. Right. "Shop around" and you can find a great loan. By asking the right questions, you can find a new mortgage loan that's in-tune with your budget.

A Refinance Checklist

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MortgageLoan.com | July 28, 2006

One of the biggest headaches in the loan application process is producing verification documents for your lender. Borrowers are asked to provide proof of employment, income, assets…the requirements can go on and on. While it can make for a rather trying ordeal (particularly if you're not organized), the documentation is a necessary evil. One, it provides your lender with a degree of risk management; and two, it can prevent you from taking on too much mortgage debt.

Cash-Out Refinance or Second Mortgage?

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MortgageLoan.com | July 28, 2006

Borrowing against the equity in your home is an easy way to access cash for a home improvement project or debt consolidation. The two most popular options are the cash-out refinance and the second mortgage. Both can get you what you need, but each has different factors that can influence whether it's the right loan for you.

Pay Off Interest Only Loan with Mortgage Refinancing

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MortgageLoan.com | July 11, 2006

Interest-only loans have helped many buyers purchase more real estate than they may have been able to handle otherwise. They accomplish this by offering lower monthly payments and higher tax deductions. But many homeowners are now facing the interest-plus-principal phase on their interest-only mortgages. With rates on the rise, refinancing to a more traditional loan may be a timely choice.

Refinancing in Spite of Prepayment Penalties

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MortgageLoan.com | July 10, 2006

Many homeowners wonder whether they can refinance their loans to lock in lower rates before interest rates climb higher. And because some borrowers have loans that include stiff penalties for early repayment, it may not seem like a viable option. Let's examine the issue of so-called "prepayment penalties" to see how they impact your financial freedom.

Refinancing? Know Your New Vantage Score

By:

Barbara Eisner Bayer - MortgageLoan.com | June 30, 2006

The FICO credit scoring system has traditionally been the single most important decision-making tool for lenders. Now, Experian, a major credit bureau, has launched a new credit rating system called VantageScore.

Combine Two Mortgages into One Through Refinancing

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MortgageLoan.com | June 27, 2006

When it comes to multi-tasking in this post-modern age, mortgages defy conventional wisdom: Two is not necessarily better than one. If you're growing weary of juggling loans along with everything else life throws at you, refinancing to combine your mortgages might be a timely option. When it comes to debt, simplicity is always a good strategy, and combining mortgages through a simple refinancing is a great idea in today's changing economic environment.

The 2 Percent Refinance Rule - Fact or Fiction?

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MortgageLoan.com | June 14, 2006

Someone, somehow, somewhere came up with a rule that the only time you should refinance your mortgage is when interest rates drop 2 percent below your loan's current rate. While the logic behind the rule-that you want to recoup your closing costs over time-may be sound, it simply doesn't apply to every situation.

Mortgage Refinance - Tax Deductions and Points

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MortgageLoan.com | June 12, 2006

Paying points to lower the interest rate on a loan can be a great idea, especially if you're considering staying in your home for an extended period of time.

Refinance Basics

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MortgageLoan.com | June 07, 2006

Refinancing a mortgage can be an excellent financial decision. If the interest rate that you are currently paying is higher than the current interest rate, you may want to look into refinancing your mortgage.

Cash-out Refinancing to Pay For College

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MortgageLoan.com | May 28, 2006

A cash-out refinancing can help you pay for your child's education, with reasonable terms. The summer after your child's graduation from high school could be the perfect time to adjust your old mortgage.

Refinancing Your Mortgage? Tips for Cutting Costs

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MortgageLoan.com | May 24, 2006

No matter what your reason for refinancing your mortgage- lower monthly payment, access to cash, debt consolidation-you'll want to make sure your mortgage isn't loaded down with unnecessary costs. Before you sign any dotted line, keep in mind these cost-cutting tactics.

Online Refinance

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MortgageLoan.com | May 19, 2006

An online refinance is something that can be carried out over the Internet just as much as any other paperwork intensive transaction can be done online. It is not a different kind of loan, nor is there any less labor intensive "online refinance" that is cheaper or faster.

Mortgage Refinancing - How Many Points Should I Add?

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MortgageLoan.com | May 18, 2006

Your mortgage interest depends on several variables. Some of them, like the economic environment and your past credit history, are not easy to change. Prepaid interest points, on the other hand, give you some control over your interest rate.

Refinancing after a Bankruptcy

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MortgageLoan.com | May 17, 2006

The idea of a mortgage refinancing after a bankruptcy might seem unrealistic. But the truth of the matter is that it can begin sooner than you'd expect. Only six months after a bankruptcy has been finalized, you can start the process of refinancing your mortgage and rebuilding your financial life.

Should I refinance my home mortgage?

By:

MortgageLoan.com | May 15, 2006

Should you or shouldn't you? Luckily, when considering refinancing your home mortgage you do not have to rely on gut feeling, and a beneficial outcome is not dependent on stumbling upon the right broker; a refinance home mortgage decision is based upon quantitative analysis and investigative research, which is fancy talk for running the numbers and talking to lenders.

Time to Refinance Your Adjustable Rate Mortgage?

By:

MortgageLoan.com | May 10, 2006

As interest rates rise, it's hard to predict how high variable rates will go. If you have an adjustable-rate mortgage, there may be no better time than now to lock in a fixed rate by refinancing your mortgage, before rates climb closer to double digits.

Bad Credit, an opportunity...

By:

MortgageLoan.com | May 09, 2006

A bad credit refinance loan is not the end of the world; in fact, it can reduce your monthly debt to a workable sum and put you back on track to establishing good credit.

Home Mortgage Refinance

By:

MortgageLoan.com | May 08, 2006

A new mortgage loan with new terms wich is used to pay of your current mortgage, or mortgages, that's what home refinancing is about. Why can it pay off? When?

Refinance Your Mortgage and Build Your Credit Rating

By:

MortgageLoan.com | May 04, 2006

If your credit rating is poor, you can find a sub-prime lender to refinance your mortgage. Then, make regular, on-time payments on your mortgage and other bills. If you're disciplined, you can dramatically improve your credit rating.

Mortgage Refinance to Reduce the Term

By:

MortgageLoan.com | May 04, 2006

Often, when consumers take out a mortgage to buy a house, their financial situation changes over time. It's not unusual for you to outgrow the terms of your original mortgage. Refinancing is a convenient way to change the rules of the game.

Mortgage Refinance and Taxes

By:

MortgageLoan.com | May 01, 2006

Refinancing your home mortgage can bring in extra cash and lower your payments. But it can also mean higher taxes. We'll show you how your deductions are affected by different kinds of refinancing loans.

The Hidden Costs of Mortgage Refinancing

By:

MortgageLoan.com | May 01, 2006

If you're thinking of a home loan mortgage refinancing, it can be helpful to sit down and consider the pros and cons. The first step is to figure out the costs and savings of rolling your old loan into a new one.

Refinancing Tips - Five Steps to a Speedy Loan

By:

MortgageLoan.com | April 27, 2006

As the refinancing boom draws to an end, it's still possible to lock in a great rate. Here are five steps to ensure that you get an attractive deal before it's too late.