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Mortgage Refinancing Help
: Business: Financial Services: Cash Flow: Factoring
: Commission Advances (4)
 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.
 See also:
 Commission Express »
Provides commission advance services to real estate agents and brokers; includes franchise opportunities, testimonials, and locations.
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 eCommission »
Offers advances of up to ninety percent of the net commission due; includes profile, FAQ and registration.
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 Fas Com Financial Services »
Provides advances on real estate commissions to agents in Western Canada; includes forms, rates, and instructions.
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 Real Commission »
Offers advance payment of commissions on pending contracts to residential real estate agents in the US; includes benefits, company profile, and application forms.
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 Use a mortgage broker. A mortgage broker will show you mortgage products from different banks and mortgage providers. Pick a mortgage broker carefully. If the broker works directly for a company that offers financial products, make sure he shows you clearly why one of these products is better. Mortgage brokers also get a commission on their sales. Find out what the broker's services include and if he charges any fees. Many brokers do not charge fees beyond their commission. Also check the broker's credentials.
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 the company carrying your current title insurance policy what it would cost to reissue the policy for a new loan. This may reduce your cost.
Refinancing can be the right move to improve your financial situation, but be careful. Making the wrong move can put you much worse off. Smart and simple choices will go a long way toward keeping you financially secure.
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