Mortgage Refinansing Help

Mortgage Refinancing Help: Working Mothers

“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.) ”

Mortgage Refinancing Help : Home: Family: Parenting: Mothers : Working Mothers (18)

It's better to follow the 2% Rule which suggests that you can enjoy the benefits of a home refinance if your mortgage refinance rate is 2% lower than that on your current loan. The interest savings will help you recoup the costs you've paid for the new loan provided you stay in the property for a certain period of time (break-even period). However, there are no-cost as well as low-cost refinance loans wherein the costs are included into the loan. But you can expect comparatively higher rates on such loans. Moreover, these loans are limited when the market is in a credit crunch.

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Mortgage Refinancing Help: Working Mothers ()

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Business: Small Business: Home Office: Work at Home Parents (32)
Society: Work: Women (5)
Society: Work: Work and Family (14)

Work & Mom »
Smart, funny Moms who work outside the home talk about their lives and how they make the 'balancing act' work.

WorkingMother.com »
Online version of Working Mother magazine which covers work and life issues important to career-committed mothers.

Field of Mugi »
Free Internet membership website for present, future and past working mothers and other women willing to support working mothers.

BlueSuitMom.com »
Tailored tips and tools to help executive working mothers balance work and family.

Working Moms Refuge »
Supportive parent and women's community featuring discussion and advice from both experts and working mothers.

Pseudo Supermum »
Humorous weblog of a working mother. Talks about day to day life as a mother.

Work&Mom »
Resources to help mothers who work balance their family's needs with the demands of their paying job.

Alliance of Work/Life Professionals »
A membership organization for professionals that promotes a healthier balance between work and personal life.

N-R-G Coaching Associates »
Solutions for overstressed, overtired, overworked moms by Coach/Author/Speaker Natalie Gahrmann.

Suite101: Working Mothers »
An online resource for working Moms struggling to balance work and family life.

Breastfeeding.com: The Working Mom »
News and information for working moms, including breast pump info, dealing with the boss and milk storage.

Angelina's MOMtrepreneurs.com »
Fee-based organization for working mothers.

Yeah Mom »
An online community for resources, support and promotion of moms and WAHMs

The Integrated Mother »
Nationwide coaching and training company that helps career moms who feel stretched to the limit by the demands of work and family.

Maternity Leave »
Expert advice to help you plan ahead for your maternity leave.

Balancing Work and Family »
Contains information for balancing career with family life. Resources, dealing with guilt, stress and time.

At Home Mommy's »
Resources for work at home moms including parenting, party plan companies, and telecommuting jobs.

Working Mothers »
Articles featuring issues facing mothers working outside the home.

Once you know the reason for refinancing, you should ask your mortgage specialist whether or not it would be beneficial for you to refinance at this time or whether it may be more beneficial to wait.

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.

Get your interest rate and closing costs in writing as soon as you decide on a lender to work with. Get your lender to give you a commitment in advance of all of the costs that will be involved with your loan. Find out if the refinance loan you are getting has a pre-payment penalty as well. Sometimes lenders will leave out important information like this, if they think it might scare you away from refinancing with them.

It is feasible to go for a refinance when you have built up at least 10% equity in your home (For Fannie Mae owned mortgages, the value is 5%). It is also possible for you to choose the option if your equity is less than 5%, but you may have to pay a certain amount of cash in order to make up for the difference in equity.