Mortgage Refinansing Help

Mortgage Refinancing Help: Financial Services

“Refinancing can be the right move to improve your financial situation, but be careful. Making the wrong move can put you much worse off. Smart and simple choices will go a long way toward keeping you financially secure. ”

Mortgage Refinancing Help : Regional: North America: United States: Kansas: Business and Economy : Financial Services (7)

Give yourself plenty of time to close. With most refinancings, your file is turned over to a closing or title company, which dictates the closing details. Like the lenders themselves, these firms are swamped when interest rates are low. Moreover, appraisers get backed up and can be difficult to schedule. So don't expect the closing to happen as quickly as anyone promises.

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Mortgage Refinancing Help: Financial Services ()

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Business: Financial Services (13,117)
Regional: North America: United States: Business and Economy: Financial Services (29)

The Trust Company of Kansas »
Providing trust and investment management services to individuals, businesses, and charitable clients within the state. Includes Board of Directors, job opportunities, locations and contact information.

Consumer Credit Counseling Service, Inc. »
Accredited non-profit community service offering low cost budget counseling and credit report review sessions, free repayment programs and workshops on credit and finances. Serving Central and Western Kansas.

Kansas Association of Certified Development Companies »
A provider of small business loans, loan assistance, and grant support.

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.

If you are planning to stay in your home for several years, then you can save money by paying points for lower interest rates. You pay up front fees to ensure you have lower interest payments over the course of your loan. Remember, this only works if you keep your mortgage for several months.

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.

You have a legal right to a good faith estimate. Get a copy of this document and go over it with a fine tooth comb, it will reveal where there is a real problem.