Mortgage Refinansing Help

Mortgage Refinancing Help: Driving

“Changing the term of your mortgage can help in several ways. First, if you were to refinance your current mortgage from 30 years to 15 years, you will accelerate the rate at which you pay towards principle each month meaning your house will be paid off quicker. Also, you will save an unbelievable amount of money in terms of interest because you would likely be taking 10 to 15 years off the life of your loan. Second, you can also refinance a 15 year mortgage to a 30 year mortgage. It seems like it might not make sense to do this, but if you have an immediate need to free up monthly cash-flow and you don't want to take out a home equity loan, this can work out to your benefit. When you take a 15 year loan and refinance it to 30 years you will have the same balance only the payments can be hundreds of dollars less than the 15 year loan. The only draw back to this is you will pay more in interest over the live of the loan. ”

Mortgage Refinancing Help : Business: Education and Training : Driving (261)

Weigh the costs carefully of how long you will be staying in your home vs. how much of a savings you will be getting in a refinance. Make sure you include closing costs in your decision.

See also:

South Dakota Safety Council »
Sioux Falls, SD area non-profit offering teen driver education, motorcycle courses, and advanced driver training. National Safety Council member. Course information and fact sheets.

Valley Driving School »
Vancouver, Canada driver training for cars, trucks and motorcycles. Also offers instructor training. Site lists course prices and contact information.

Cranmer and Margarit Driver Training Institute »
Cordoba, Argentina location. Webstore, rates and contact information.

My JOL »
Reference for Massachusetts drivers who are under age 18, with FAQ, penalties and links to related sites.

Greater Omaha Safety Council »
Nebraska non-profit organization offering teen driver education, traffic school, motorcycle and defensive driving courses. National Safety Council member. Course and upcoming event information.

Holiday Driving Interactive »
Online interactive driving lessons for tourists traveling abroad. News, FAQ and contact information.

Randall Safety Consulting, LLC »
Marietta, GA occupational safety and defensive driving courses. Links, course schedules, and contact information.

Minnesota Safety Council »
St. Paul area driver education, professional driver training and traffic school. Also offers workplace safety and first aid programs. National Safety Council member. Program and contact information.

Be Proactive. Your loan representative should keep in contact with you even if there isn't any action on your loan. But do your part to keep the lines of communication open as well. If you don't hear from your loan representative for a few days, pick up the phone and ask for an update. The old adage that the squeaky wheel gets the grease definitely applies in this situation.

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.

You can ask for a copy of your settlement cost papers (the HUD-1 form) one day in advance of your loan closing. This will give you a chance to review the documents and verify the terms.

Start with your current lender. If you're a good customer-you hold a sizable mortgage, pay on time, and maintain good credit-your existing lender will probably do everything in its power to keep your business. The company may cut you a break on fees for things like appraisals, surveys, and inspections if the information is current and you meet other requirements.