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Mortgage Refinancing Help: Automobiles
“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.
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Mortgage Refinancing Help
: Home: Consumer Information
: Automobiles (617)
 Make sure that your original mortgage does not have a pre-payment penalty or early payoff penalty of any kind. Sometimes people will get into their mortgage with the mortgage having a pre-payment penalty and they will not even know about it. Pre-payment penalties usually range from 6 months to 3 years with a penalty for an early payoff. The penalty is usually about the amount of 6 months worth of your mortgage loan interest, but this varies. You would have to be able to have some significant payment and interest savings on your refinance loan to justify refinancing a mortgage loan with a pre-payment penalty.
 See also:
 The AA Motoring »
Automotive advice, news and reviews for buying, owning and evaluating vehicles. UK.
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 Edmunds.com »
Guides, reviews, wholesale and retail pricing information and advice for every aspect of automobile purchasing and ownership.
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 Autopedia: The Automotive Encyclopedia »
A collection of links and information regarding auto purchasing and ownership issues.
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 CarTest.ca »
Independent, unbiased new vehicle reviews, opinions and commentary based on test drives. Includes archive of reviews for previous model years, and reference and buying resources.
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 Actual Car Information »
Tom and Ray Magliozzi of the syndicated radio show Car Talk offer information on buying, selling, repairing and owning cars.
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 Wheelspecs.com »
Offers detailed, accurate wheel specifications, brand information and photos. Features wheel weights, stock OEM, racing, and aftermarket wheels.
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 DriveClean.CA.Gov »
A guide for zero and near-zero emission vehicles from the California Air Resources Board. Includes articles, general facts and figures, and FAQs.
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 AOL Autos »
New and used car reviews, tips, advice, insurance, and financing.
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 AutoNetwork Reports »
Streaming automotive content including interviews, press events and product launches as provided by auto manufacturers.
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 The Family Car »
Tips on selecting, caring for and handling repair problems. Also covers safe driving and styling trends.
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 Lenders like pristine credit reports. If you have a bunch of open credit card accounts that you never use (and who doesn't?), consider closing them. It will boost your credit score and make you a much more attractive borrower to a lender. Then, a month after you've closed your accounts, go over your credit report with a fine-tooth comb. It should read that the accounts were closed at your request. (You don't want lenders to think someone cut you off and that you're a bad credit risk.)
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.
Refinacing your mortgage can allow you to take cash out of the equity which you have built in your home. You can pay off your higher interest debts and pay all of your debts at a lower interest rate. This will allow you to save money on a monthly basis and achieve your financial security.
There is no such limit on the number of times you can go for home refinance loans. Most lenders prefer that you have no late payment for the past 12 months before you switch over to a new loan.
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