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Mortgage Refinancing Help: Debt and Bankruptcy

“Before you refinance a loan, make sure that you carefully analyze any fees that your lender is including on the loan. The Department of Housing and Urban Development can provide you with a list of standard fees. Use it to make sure that your lender isn't tacking on anything extravagant. And by all means, compare their fees with other lenders in the market. ”

 
 
           
Mortgage Refinancing Help : Home: Personal Finance: Money Management : Debt and Bankruptcy (23)

 

 

 

Mortgage Refinancing TipClosing costs can be expensive. If you plan on refinancing your home to save money, be sure to take into consideration how much the closing costs on the new loan will cost you.

Mortgage Refinancing Help: Debt and Bankruptcy ()

See also:

 
The Insolvency ServiceThe Insolvency Service »
Regulators of the UK insolvency profession. Provides information about Bankruptcy, IVAs and DROs and allows completion of court forms online.
  • Smartmoney.com: Debt Management: Help! I'm Drowning in Debt - Article discusses reputable and disreputable credit counseling agencies as well as other options for handling a large debt load. (November 27, 2006)
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    Federal Trade Commission Money MattersFederal Trade Commission Money Matters »
    US consumer protection site providing advice on how to deal with debt and financial scams.
     
    Bankruptcy and Credit RepairBankruptcy and Credit Repair »
    Practical advice for those with debt problems from a lawyer and former credit card bank vice president.
     
    DebtStepsDebtSteps »
    Articles on debt relief, and credit management and repair.
     
    123 Debt123 Debt »
    Provides credit and debt related information and evaluation analyzers for individual debt analysis.
     
    NoloNolo »
    On-line encyclopedia about debt and bankruptcy, with sales of related books and products.
     
    Rent after BankruptcyRent after Bankruptcy »
    Information and resources for finding an apartment or getting a loan with bad credit or a bankruptcy.
     
    Debt HelpDebt Help »
    Information on debt consolidation programs and loans.
     
    DebtPoint LiveDebtPoint Live »
    Debt solution portal featuring in-depth articles, video education, and book store.
     
    Kiplinger Credit GuideKiplinger Credit Guide »
    Kiplinger magazine's section on personal credit and budgeting.
     
    National DebtlineNational Debtline »
    UK Government funded website providing information and self help materials on what to do if you’re in debt or are struggling to manage your money.
     
    DebtSmart.comDebtSmart.com »
    Provides articles, software and information on financial management and debt.
     
    Federal Trade Commission: Credit & LoansFederal Trade Commission: Credit & Loans »
    U.S. government agency's guide to credit, with a focus on credit scams and unethical behavior.
     
    Debt Advice FoundationDebt Advice Foundation »
    UK charity providing information and advice on coping with all aspects of debt and money management.
     
    Debt Problem SolutionsDebt Problem Solutions »
    Offers budget form samples and tips on saving money and eliminating debt.
     
    NPR Special Report: A Nation in DebtNPR Special Report: A Nation in Debt »
    Describing America's complex relationship with debt. Compare your level of debt with the national average, and discover more online resources. (January 01, 2003)
     
    Credit Slips BlogCredit Slips Blog »
    Weblog by attorneys and law professors. Focuses on current issues involving credit and bankruptcy.
     
    HealDebt.comHealDebt.com »
    Offers tips and advice to accelerate debt reduction.
     
    Credit/Debt RecoveryCredit/Debt Recovery »
    Weblog discusses debt recovery and credit related issues.
     
    Oh My Aching DebtsOh My Aching Debts »
    A woman's journey from the brink of bankruptcy to financial security through frugal living, financial education and saving.

     


         		       


    Mortgage Refinancing TipWhen 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.
     

    Mortgage Refinancing TipMany companies in this industry will do what ever they can to get away with charging you as much as they possibly can. Some of the ways they do this is not disclosing all the third party fees involved in a loan such as title insurance, appraisals, pre-paid tax and insurance escrows etc. It is important that you ask the loan officer you're speaking with about third party fees. If you don't they may not tell you and give you a good faith estimate that sounds fair, but at closing you'll find out that you have to pay a couple of thousand dollars more in fees you were unaware of. A good loan officer at a reputable company should have no problem disclosing all fees that pertain to your loan and should also make sure you understand what the fees are for.
     

    Mortgage Refinancing TipIf you are paying private insurance on your current mortgage, refinancing may allow you to do away with this unnecessary expense.
     

    Mortgage Refinancing TipAsk the lender or broker for a comparison of the up-front costs, principal, rate, and payments with and without this rate trade-off.
     

    		    

       

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