Mortgage Refinansing Help

Mortgage Refinancing Help: Michigan

“Make sure that your original mortgage does not have a pre-payment penalty or early payoff penalty of any kind. Sometimes people will get into their mortgage with the mortgage having a pre-payment penalty and they will not even know about it. Pre-payment penalties usually range from 6 months to 3 years with a penalty for an early payoff. The penalty is usually about the amount of 6 months worth of your mortgage loan interest, but this varies. You would have to be able to have some significant payment and interest savings on your refinance loan to justify refinancing a mortgage loan with a pre-payment penalty. ”

Mortgage Refinancing Help : Business: Accounting: Firms: Accountants: North America: United States : Michigan (36)

Many people with poor credit history look to take out loans from friends and family. While this may be a fairly good short term solution, it might not be the smartest of long term business moves. What you need to do is refinance your mortgage and lower your payment. The best thing you can do for yourself is to shop around. I'd be willing to bet that some banks will give you a better deal on a mortgage refinancing than you think they would. Find out who's got the best rate to get the best deal on your loan. This might take a little legwork, but it could pay off. Finding that right bank to give you the right deal on your refinancing will be worth the effort.

See also:

Regional: North America: United States: Michigan: Business and Economy: Financial Services (3)

Melton Business Advisors »
Ann Arbor firm of qualified, experienced accountants, IT consultants and web developers. Offers include audit, accounting and tax services, accounting software consulting and website solutions.

Redinger & Associates, PLLC, CPA's »
White Lake and Chesterfield firm.

Ramie E Phillips, Jr., PC, CPA »
Rochester Hills firm.

Bond and Company Accountants »
Jackson CPAs providing accounting and financial advisors to Mid-Michigan. Includes FAQ, tax articles, and company history.

Rubenfaer & Associates, P.C, »
Farmington Hills CPA firm offers full range of accounting services. Includes tax news, firm information, links, and FAQ about the company.

Dennis, Gartland & Niergarth »
CPA firm in Traverse City, Michigan. Provides a wide range of audit and accounting, tax, management consulting, small business services and computer consulting.

Brown Accounting and Tax Solutions »
CPA firm serving small businesses and individuals, providing accounting, tax, QuickBooks, incorporations and other services. Based in Grand Rapids.

E A Schensky & Associates »
Accountants offering bookkeeping and tax planning for business and personal taxes in Michigan. Madison Heights.

Robinson, Pietras, Kalisky & Co »
CPA located Farmington Hills.

Hutter & Associates »
Full service CPA in Indiana and Michigan.

Predhomme & Co. »
Tax planning and compliance, accounting and related matters for individuals, closely held businesses, private foundations, estates and trusts. Offices in Birmingham, MI.

Jenkins, Magnus, Volk and Carroll »
Small CPA firm located in Bloomfield Hills.

Innes & Lotito »
CPA located in Mt. Clemens, Michigan.

Mayville McClain Smith & Wenz »
CPA firm located in Troy.

Donald W. Strom, CPA, PC »
Ann Arbor CPA firm serving small businesses and individuals with accounting, tax, QuickBooks, incorporations and other services.

Smart Tax Professional Services - CPA Firm »
CPA Firm - Certified Public Accounting firm with offices in Metro Detroit providing accounting, tax preparation, and financial services to businesses and individuals.

Farquharson, Pointon and Lepsetz, CPAs »
CPA firm specializing in assisting the small and start-up business. Farmington Hills, MI.

Paul A. Smallwood, CPA, PLLC »
A full service CPA firm offering assurance, tax, accounting and consulting services to individuals, closely held businesses and their owners. Located in Traverse City, MI.

Century Small Business Solutions »
Providing monthly accounting, bookkeeping, tax and business consulting services to the small business community. Located in Farmington Hills, Michigan.

Beene Garter LLP »
Grand Rapids based firm that provides wealth management services such as risk management and insurance plans.

Davis and Davis »
Southfield Michigan CPA firm offering full service accounting, business valuation, US and foreign tax preparation, expert witness testimony and computer consulting services.

Anderson, Tuckey, Bernhardt & Doran »
A regional certified public accounting and management consulting firm with offices in Caro and Cass City.

Plante & Moran »
A progressive accounting and management consulting firm. Offices located throughout Michigan and Ohio.

Gordon & Company »
Offering accounting services for Michigan.

Wrotslavsky & Associates, CPAs »
Specializes in auditing, forensic accounting, business valuations and litigation support. Offices in Farmington Hills, MI.

Clayton & McKervey »
Full service accounting firm located in Southfield, Michigan providing customary CPA services, financial planning, domestic and international tax planning.

Curtis, Bailey, Exelby & Sposito, P.C. »
CPA services located in Ann Arbor and Ypsilanti.

Hudson Business Services »
Coldwater, MI firm providing a range of accounting, tax and assurance services.

Kopmeyer &Talty »
Certified Public Accountants and management consultants providing accounting, business planning, and tax planning and Compliance in Livonia, Michigan.

L. E. Williams & Company »
Certified public accountant offering income tax preparation, tax planning, accounting, bookkeeping, and payroll services. Located in Traverse City, MI.

Traverse Tax & Accounting »
Accounting and tax firm based in Traverse City providing paperless accounting, payroll, and tax solutions.

Gerbel & Company »
Certified Public Accountants located in St. Joseph, Michigan, and offering commercial, governmental and school audits, tax preparation, representation and planning, and pension planning.

Andrews Hooper & Pavlik »
Full service audit, accounting, tax and consulting firm in Bay City, Frankenmuth, Grand Rapids, Lansing, Rochester Hills and Saginaw.

Myler & Szczypka, P.C. »
A full service accounting firm located in Ann Arbor.

John Lansat CPA, PC »
Metro Detroit CPA firm specializing in individuals and small businesses.

Culver, Wood & Culver, CPAs »
CPA firm based in Grand Rapids providing businesses and individuals with accounting and financial services.

Carefully review the estimated closing costs. If you decide to lock in the rate, the lender will send you a "good faith estimate" of your closing costs within three days. Go over the numbers carefully, and compare them to the ones that appear on the final settlement statement (the HUD-1) from your previous mortgage.

If you want to make sure the interest rate your lender offers you is the rate you get when you close the loan, ask about a mortgage lock-in (also called a rate lock or rate commitment). Any lock-in promise should be in writing. Make sure your lender explains any costs or obligations before you sign.

There is a refinancing myth that says you should not refinance your mortgage unless your interest rate will be at least two points less. This myth is not necessarily true if there are other benefits to the refinance or other reasons behind it.

Refinancing may not be that useful if you have already used up 90% or more of your home value in taking out a mortgage or any home equity loan. You won't be able to get the best rates available in the market as when you refinance a 90% LTV loan, you will probably require a loan of that value or higher. This will be quite closer to being a 100% financing option and hence mortgage refinance rates will be comparatively higher. Moreover, 100% loans are hardly available in times of mortgage market crisis.