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- (not so) Speechless Sunday... September 5, 2010(not so) Speechless Sunday...As the days get shorter and the nights cooler, thoughts of Summer's last hurrah echo. Pretty soon, lawn mowing and harvesting the last of the garden flowers and vegetables will give way to leaf raking, bulb planting and winter mulching.Labor day, the last summer holiday. The last time for family picnics, parties on the bea […]Michael Thornton - Nashville, TN area Home Inspector (Complete Home Inspections, Inc.)
- ... Kill them with Kindness !!! ... YOU WIN every time ! September 4, 2010Haha ! I Love it when a plan comes off !!!! With the stress and challenges facing pretty much everyone on the planet right now, it's very easy for people you run into to be GROUCHY out there ! ... but it doesnt mean that you should respond in the same way !!!! I had a great example today of how I PAUSED, and took a breath while thinking about my […]Sheldon Neal -- That British Agent -- (Bergen County, NJ - RE/MAX Real Estate Limited)
- Hayashi Hibachi Japanese Steakhouse in Surprise Arizona September 4, 2010Hayashi Hibachi Japanese Steakhouse in Surprise Arizona If you're looking to find a new restaurant in Surprise Arizona, I highly recommend that you try Hayashi Hibachi Japanese Steakhouse. Located at 13823 West Bell Road (near Sprouts Farmers Market), this oriental sushi bar and tepanyaki restaurant is now open for business. Dine at the sushi bar w […]Sun City Grand Real Estate Surprise AZ Leolinda Bowers, MBA, Associate Broker (Ken Meade Realty)
- How to choose the right listing agent September 4, 2010The most important things a seller should consider when hiring a Realtor include: How knowledgeable is the Realtor in the type of property being sold? What percentage of the Realtor’s listings actually sell and how does that compare to the general MLS? Average Days on Market; Average List to Price Ratios; % expired before selli […]Jim Paulson (Owner/Broker) (Progressive Realty (Boise Idaho) www.Progressive-Realty.info)
- To Brand or Not to Brand and that elusive 1% club September 4, 2010It seems one can’t attend a seminar or read a marketing newsletter nowadays without being told that the most important thing you can do is brand yourself, your company or your service offering. You are told that the only way you’ll make it is to stand out, to be (with apologies to Godin) that purple cow, that one Realtor that everyone will recognize as the […]Inna Hardison-ha media group Design, Printing, Web (ha media group)
- Creating Barriers in a Tough Real Estate Environment September 4, 2010I recently went to a real estate brokerage office on the weekend to drop off some papers and was surprised to find the door locked. The agent was inside and the sign outside said "Agent on Duty." All external indications created the perception of an open office. However, when I tried the door, I found it quite unwelcoming. I knocked on the door […]Kathryn Maguire (Rose and Womble Realty Company)
- DIAGNOSIS: Terminal BLAH September 4, 2010DIAGNOSIS: Terminal BLAH "Define terminal BLAH," you say! Okay--accepting that which is 'status quo' without care or concern of ever producing results beyond that of the ordinary. One of my farorite reads, Mastery, brings to mind the tendency that we have to be comfortable with normal, status quo, ordinary...whatever you want to ca […]Debe Maxwell - Search Charlotte Homes for Sale - Charlotte NC Neighborhoods (Helen Adams Realty)
- Name Calling September 4, 2010Everybody knows in our "don't offend anyone" kind of society we live in today, that you're not supposed to call anyone a name. It isn't considered nice and it might hurt their feelings. But I can't help it. I'm a "name it" kind of a guy. I guess this is a bad habit I picked up when I was in elementary school. […]Bob Haywood, www.BobHaywood.com (McGraw Realtors)
- How to "Just Say No" to Your Seller without Sounding Lazy, Cheap or Disrespectful September 4, 2010God Bless 'em, sellers just want to help. They have lots of opinions on how their homes should be marketed, advertised and promoted to agents and buyers, and they LUV sharing those opinions with us. And of course, they expect us to agree with their opinions and implement their ideas immediately! And sometimes they're right. Hey, our sellers are in […]Jennifer Allan, Author of Sell with Soul (Sell with Soul)
- I think I can, I think I can..I know I can, I know I can... September 4, 2010Sometimes succeeding in real estate is pure tenacity. I often do feel like the "Little Engine Who Could" as it is nothing but sheer perseverance and determination that gets some sales to close. Today I celebrate the closing of a home that was on life support for the past 43 days. No bank problems, no appraisal problems, no inspection problem […]Coral Gundlach (McEnearney Associates, Arlington Virginia)
When Does It Make Sense To Refinance?
January 16th, 2010 | 
Author: There are certain instances where it would be an advantage for you to refinance your home. Even in the midst of a down economy, homeowners are finding lower interest rates and opportunities to incorporate balances on high-interest unsecured debt to a lower interest rate home loan. Some homeowners are finding the benefit of a higher credit rating after incorporating debt into their refinanced home loan, reducing their debt-to-income-ratio. There are other reasons to refinance, however.
Your primary consideration in refinancing your home will be to save money. How can this be achieved? Several ways for savings might be to lower your interest rate, lower your monthly payment, shorten the term of your loan, eliminate your private mortgage insurance (PMI), obtain financing for repairs that would significantly improve the value of your home, or for college or medical expenses.
If you find that you will save money on a refinance for your home loan, then you should consider your options. Keep in mind that your first and foremost goal will be to find a lower interest rate. In order to find a lower interest rate, you may have to do some homework.
First, contact your current lender and see what kind of interest rate he offers you; although, you don’t have to settle for his offer. Make sure you ask for all fees and charges, down payment required, loan origination fees, closing costs and any other associated fees. Also, ask for the annual percentage rate (APR). That will give you the bottom line on what your final interest rate will be. Get everything in writing before signing anything.
Find out how long the interest rate offered is valid. Based on stock market fluctuations, interest rates could and probably will change from one day to the next. If you have PMI on your mortgage, then another question you need to ask your lender is if you have paid down your mortgage by 20 percent. If so, your lender is obligated by federal law to remove PMI from your home loan.
In order to see if the rate offered by your current lender is the best available to you, research the Internet. You might find a better rate online. Make sure the lender is reputable, though. The Federal Trade Commission (FTC) is constantly investigating mortgage companies for fraud, so don’t fall prey to any of these. Visit the FTC website for more information. Look for a Better Business Bureau (BBB) symbol and other reputable associations.
Make sure during your research that you determine what type of loan you will want – a conventional or government-backed loan, a traditional or adjustable rate mortgage. In communicating with lenders, make note of the details of each offer, obtaining the same information in writing from each institution.
Combine all offers onto one spreadsheet, so that you can compare the benefits of each. Note your savings of each in a final column. This will help you conclude your research.
Once you’ve done all your research and you’re confident you will receive the desired outcome in your goal to save money, sign on the dotted line.
Ki created a way to search Austin real estate based on user-defined preferences. His site provides a graphical search of the Austin MLS it also has general information on Austin real estate and graphs showing historical mortgage rates.
Posted in Mortgage Blog