|
Mortgage Refinancing Help: Appraisal and Valuation
“If your property value reduces and you refinance up to 80% of the reappraised value, your original mortgage amount may be higher than this amount. Thus, the new loan will not be sufficient enough to help you pay down the existing one.
”
|
| |
Mortgage Refinancing Help
: Business: Arts and Entertainment: Visual Arts
: Appraisal and Valuation (10)
 If you are refinancing from one ARM to another, check the initial rate and the fully-indexed rate. Also ask about the rate adjustments you might face over the term of the loan.
 See also:
 Jeffrey Fuller Fine Art, Ltd. »
Provides fine art appraisals of American and European paintings, drawings, sculpture, prints, and photographs.
|
 E. Linda Poras »
Appraisals of fine arts for home, corporate, insurers and major collectors.
|
 Maynard Elliott Inc. »
Specialists in American, Canadian, and European 17th to 20th century paintings, prints, sculpture, and objets d'art.
|
 Van Weyenbergh Fine Arts »
Fine art appraisal and authentication experts, located in Beverly Hills, California, United States. Services, background and contact information.
|
 Lorraine Anne Davis »
Offers lectures and seminars, appraisals of fine art photography, and curatorial services.
|
 MacIntyre Appraisals »
Fine art, antique, and decorative art appraisals by Shawne MacIntyre. Located in Vancouver, British Columbia.
|
 Appraisal Associates Consulting Inc. »
Accredited appraisers of fine art, antiques, and decorative art.
|
 Minnick Appraisal Service »
Personal property appraisers serving the Pacific Northwest of the United States, specializing in artworks and antiques. Services, samples and rates, contact information.
|
 Team Estate Sales and Appraisal »
Offering complete estate and appraisal services for Memphis and the South. Special services for "advanced" collectors and for seniors downsizing.
|
 Gemart Appraisals »
Appraisal services for appreciable personal property assets. Certified and accredited valuation and advice. A division of Carmelly and Associates Inc.
|
|
|
 Ask for the reissue rate on your title work. If you've taken a mortgage within the past two years, or are using the same lender, you might be granted this option, which can save you as much as 70 percent on your title work. An editor at this magazine didn't know about this potential savings when he refinanced his mortgage; fortunately his lawyer did. The savings more than covered the attorney's fees. However, if it's been several years since you took out a home loan, or if you're using a new lender, you'll likely have to pay for a new title.
Calculate the financial benefit of refinancing in one, two, or three years. Does the benefit compare with your plans for staying in your home?
Stick with a simple loan. It is easier to understand and less likely to get you into trouble. Adjustable-rate mortgages may seem like a way to get a bigger house now or to keep more money now, but when the rates adjust you can get into trouble. Avoid anything with a balloon payment. Just choose a simple 30-year mortgage you can easily afford.
When lenders offer a "no-cost" loan, they may include a prepayment penalty to discourage you from refinancing within the first few years of the loan. Ask the lender offering a no-cost loan to explain all the fees and penalties before you agree to these terms.
|
|