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Mortgage Refinancing Help: Associations
“Be Realistic. Lenders have tightened up loan requirements, so you'll need a good credit score and at least some equity in your home to refinance. To figure out how much equity you have, subtract the total amount that you owe on all of your existing mortgages from how much you think your home is worth. If your credit is severely impaired or you owe more than the value of your home, you probably won't be able to refinance right now.
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Mortgage Refinancing Help
: Business: Financial Services: Insurance
: Associations (48)
 Ask for more than just rates. Bad loan officers will tell you anything to keep you on the phone -- then change the details to suit them later. Instead, make them get real with you! Ask how long they've been in the industry. Probe them about their experience in the industry. Also, ask what their opinion is on the current market and where it's going.
 See also:
 Association of Trinidad and Tobago Insurance Companies (ATTIC) »
Promotes and encourages the development of an insurance industry suitable to the needs of the community.
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 ACORD »
Facilitates the development and use of standards for the insurance and related financial services industries. Includes overview of insurance standards, forms, and coverage of ongoing activities.
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 Insurance Accounting and Systems Association (IASA) »
Promotes the study and development of modern practices and procedures applicable to insurance accounting and systems.
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 Federation of New York Insurance Professionals »
Organization of several associations of insurance professionals from various areas throughout the state. Member associations represent a cross section of insurance and related industries. New York, USA.
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 The Association Of British Insurers (ABI) »
Trade association for the United Kingdom's insurance industry. Includes insurance overview, organisation activities, issues, news, and consumer information.
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 Insurance Industry Association for Benchmarking (IIAB) »
Targets specific information about the effectiveness of management processes in the insurance industry.
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 Federated Rural Electric Insurance Exchange »
Property and casualty insurance for rural electric utilities in 40 states.
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 MicroInsurance Centre »
Created to promote and provide resources for associations between insurance carriers and microfinance institutions (MFIs). Includes details of associations offering insurance in the developing nations.
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 Insurance Association of the Caribbean, Inc. (IAC) »
Non-profit organisation dedicated to the promotion and growth of the Caribbean insurance industry.
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 Association of Insurance Compliance Professionals (AICP) »
Promotes regulatory competence and awareness for the improvement of regulatory compliance within the insurance industry.
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 National Association of Surety Bond Producers (NASBP) »
Organization of professionals specialized in providing surety bonds. Provides membership details, meeting schedules and professional development information.
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 National Insurance Brokers Association (NIBA) »
Offers consumer advice, news, information on legislation, course handbook, and a broker look up service. Australia.
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 International Association for the Study of Insurance Economics »
Also known as The Geneva Association. It researches the growing economic importance of world-wide insurance activities. Research papers, events, and links.
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 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.
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.
Pull your credit report from the bureaus and review it for any negative items (late pays, collections etc) and inaccurate detail. Try to dispute negative items and remove them from the report. If required pay off any unpaid debt. Otherwise, you won't get a low rate and may not even qualify. Of course there are lenders in the subprime market who may offer you a bad credit refinance loan, but it's better to avoid them as they'll possible charge higher rates and fees.
Fees are a hidden cost of many mortgage loans. By law, lenders must disclose fees within three days of a loan application. Fees can go by many names like - document prep fees, courier fees, administrative fees, and more.
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