Posts

Refinancing Your Mortgage: Reasons You May Not Know About

Refinancing your mortgage is nothing more than replacing an existing home loan with another. Why refinance? Most homeowners refinance their mortgage because rates have fallen below the interest rate on their current mortgage. Lowering Your Mortgage Rate Each week, Freddie Mac comes out with its weekly mortgage rate survey which reports an average rate culled […]

Mortgage Rates Still at Record Lows — Don’t Wait!

It’s certainly easy to get distracted at this time of year. It seems that once we hit Thanksgiving Week, the rest of the year is a blur. Travel, festivities, family get togethers. They are smashed together within a 30 day period. Certainly the main priority is to enjoy the holidays with family and friends along […]

Refinancing? Better to Close Sooner vs. Later

To understand how refinancing works when the loan closes, it’s important to understand how a purchase loan closes first. By comparing the two different processes, Home Purchase: How it Works on Closing Day The final settlement date for a purchase is listed directly on the sales contract. Once the contract is executed by both parties, […]

Refinancing: The Risks of Waiting

If you’ve been thinking of refinancing, the risks of waiting might not be worth it. Lately, it’s a good move to go ahead especially for those who have been on the fence over the past few months. The market has been relatively positive for interest rates as mortgage rates in general have been floating in […]

Marriage, Legal Separation and Your Mortgage

The phrase, “’til death do us part” is one we’ve all heard. Unfortunately, many marriages don’t last that long. When a couple decides to separate, either legally or informally, there are different options to consider. Do they simply need some time apart to figure things out independently? Maybe have a little “breather” in order to […]

Why Rescission Periods (the right to cancel)?

What is a rescission period and why do they exist in the mortgage industry? A rescission period is basically a “cooling off” period in place after homeowners sign loan papers refinancing an existing mortgage. There can be multiple reasons why someone would want to refinance, and most often it’s to get a lower rate. But […]

Thinking of Refinancing? Start Your Application In Now

Mortgage rates are still very low and refinancing options are better than ever. For many, the decision whether or not to refinance your mortgage is fairly easy. This is something I can do with you over the phone. Simply compare the difference in monthly payments and divide that into the amount of closing costs needed […]

Is Now the Right Time to Refinance Your First and Second Mortgages?

There are several reasons to consider a refinance, there can be more to it than just lowering the rate on a loan. If you’re looking at your mortgage and thinking of refinancing, let’s talk about your options based upon your personal financial situation and not some “model” based upon when it’s a good time to […]

What Exactly is Forbearance?

The term “forbearance” has gotten a bit of attention over the past few weeks. Unfortunately, homeowners often seek out a forbearance agreement without fully knowing all the implications or understanding exactly what forbearance is and is not. The term has come to the forefront lately as the number of the unemployed mounts and homeowners may […]

FHA Cash Out Refinance: What You Should Know

The FHA home loan program is by far the most popular financing option for first time buyers. Why? First, the low down payment is very attractive. FHA loans only need a down payment of just 3.5% of the sales price of the home. Second, qualifying for an FHA loan is a bit easier as credit […]