| |
Mortgage Refinancing Help
: Regional: North America: Mexico: Business and Economy
: Financial Services (9)
 When refinancing, don't take the first offer that comes around. Instead you should actively compare both interest rates and lenders.
 See also:
 Financial Integration Services »
A subsidiary of the Mexican Stock Exchange, created to facilitate transactions in fixed-income securities. Describes services, personnel, and clients.
|
 Nacional Financiera, S.N.C. (Nafinsa) »
Development bank which promotes the growth of the industrial sector and financial markets, and acts as financial agent of the government. Describes structure and goals, with previous annual reports. [English/Spanish]
|
 S.D. Indeval »
Providing services relating to the custody, administration, and transfer of securities, as well as the clearing and settlement of transactions. Describes structure, shareholders, and services provided, with general statistical information. [English/Spanish]
|
 Casa de Bolsa Arka »
Offers individual and corporation financial management services, including brokerage and research. Describes company history, financial status, and products offered.[English/Spanish]
|
 Institute for the Protection of Bank Savings (IPAB) »
Gives statutory foundation, details of insurance, financial statements, and names of directors. [English/Spanish]
|
 MultiValores Investment Funds »
Gives overview of funds, with list of offices throughout the country and information on online account services. [English/Spanish; requires Flash]
|
 Bank of Mexico »
Central bank. Monetary and exchange-rate policies, economic indicators, and currency information.
|
|
|
 Don't fall for the 0% apr unless it fits in with your master plan. A lot of brokers will try to get you locked into a low interest rate that will balloon on you in a couple of years and leave you out on the street.
Resist "no cost" refinancing. No cost doesn't mean free. On the contrary: The closing costs are usually bundled into the new mortgage, which means you pay interest on them. The fees associated with a 30-year mortgage could cost you more than double what they would have had you simply written a check for them at closing. Or, if the costs aren't bundled in, you'll be charged a slightly higher interest rate. Either way, the lender wins.
If you are making payments on a long term loan, say, 30 year mortgage for the past 10 to 20 years, then refinancing to another 30 year loan will not be a good option as it may increase your overall payment.
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.
|
|
