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Mortgage Refinancing Help: Associations
“Don't escrow taxes and insurance. Unless you're undisciplined, avoid putting monies in escrow to cover your property taxes and homeowner's insurance. There's usually a fee for this privilege that runs under 1 percent of the loan amount, in states where it's allowed. "Paying the fee will allow you to time your tax and insurance payments to your benefit," says Bank South's Steve Austin. For instance, you may be able to prepay taxes that are due next year and use those payments to reduce your current tax bill. Moreover, you get to hang onto your money longer. That may be an advantage when interest-bearing accounts start paying more.
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Mortgage Refinancing Help
: Business: Investing: Commodities and Futures
: Associations (9)
 Be Ready. After your loan is approved, you'll need to sign your loan documents and provide a check for any out-of-pocket closing costs. Make sure the funds are available in your account, and be ready to make room in your schedule to read and sign your loan documents as soon as possible.
 Managed Funds Association »
The association for investment professionals in futures, hedge funds, Commodity Pool Operators, and other alternative investments.
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 Day Traders of Orange County »
Day Trading club for stock, options currency, futures, and commodities traders.
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 Canadian Society of Technical Analysts »
Calendar of events, member directory, and current industry news.
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 National Farmers Organization »
Mission is to improve agricultural commodity prices by serving as a bargaining agent for our members.
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 National Futures Association »
Self regulatory organization for the U.S. futures industry.
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 Syndicate of Agrifood Traders in Lebanon »
The mission of the Syndicate is to establish a liaison between the agrifood traders to pool their efforts and information.
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 Commodity Traders Club »
A group of active traders who share our knowledge on all aspects of commodities and futures trading so we all may make or save money.
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 The Futures and Options Association »
Industry association for firms in future trading, options, derivatives.
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 Commodity Floor Brokers and Traders Association »
The voice for all commodity brokers and traders.
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 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.
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.
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.
When refinancing, don't take the first offer that comes around. Instead you should actively compare both interest rates and lenders.
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