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Mortgage Refinancing Help: Financial Services
“Both new homebuyers and refinancers can get free access to the credit reports that lenders use by visiting AnnualCreditReport.com, a website created via Congressional mandate. A free report from each of the three consumer reporting agencies -- TransUnion, Experian and Equifax -- is available at no cost every 12 months. Check for errors; if mistakes are found, don't hesitate to dispute any and all inaccurate and derogatory items.
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Mortgage Refinancing Help
: Regional: North America: United States: South Dakota: Localities: R: Rapid City: Business and Economy
: Financial Services (9)
 Weigh the costs carefully of how long you will be staying in your home vs. how much of a savings you will be getting in a refinance. Make sure you include closing costs in your decision.
 See also:
 Black Hills Federal Credit Union »
Internet banking and brokerage, rates, maps, applications, newsletter, and links.
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 OWEESTA »
Offers loans, financial training, and community development funds to Native Americans. Provides description of programs and services, FAQ, document library, and contact information.
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 Pioneer Credit and Debt Consolidation »
Services, payment calculator, employment opportunities, and links.
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 Highmark Federal Credit Union »
Online banking, products and services, hours, loan rates, eligibility information, and links.
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 Sentinel Federal Credit Union »
Rates, products and services, online services, and contact information.
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 Consumer Credit Counseling Services of the Black Hills »
Nonprofit agency that helps consolidate debts, and provides education about money and credit problems. Services offered and contact information.
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 Express Collections »
Collection agency. FAQs, rates, skiptracing directory and hints, and how to place an account for collection.
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 Ketel Thorstenson »
Certified public accounting and investment planning. Services, newsletter, seminars, employment, and tax forms.
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 Casey Peterson and Associates »
Profile, client services, investment and tax strategies, newsletter, and contact information.
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 Many financial advisers caution against cash-out refinancing to pay down unsecured debt (such as credit cards) or short-term secured debt (such as car loans). You may want to talk with a trusted financial adviser before you choose cash-out refinancing as a debt-consolidation plan.
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.
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.)
Ask for the reissue rate on your title work. If you've taken a mortgage within the past two years, or are using the same lender, you might be granted this option, which can save you as much as 70 percent on your title work. An editor at this magazine didn't know about this potential savings when he refinanced his mortgage; fortunately his lawyer did. The savings more than covered the attorney's fees. However, if it's been several years since you took out a home loan, or if you're using a new lender, you'll likely have to pay for a new title.
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