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Mortgage Refinancing Help
: Regional: North America: United States: Vermont: Business and Economy
: Financial Services (8)
 These days most people request a Good Faith Estimate (GFE), but have no clue what to look for on the GFE. Make sure you request a GFE that has ALL fees estimated and disclosed. This includes: origination points, processing, lender, appraisal, title, escrow... ALL FEES... especially the Yield Spread Premium or YSP.
 See also:
 Vermont Community Loan Fund »
Loans to those who can not obtain commercial financing, for small business, affordable housing, community facilities, value-added agricultural businesses, and projects which conserve Vermont's working landscape.
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 Trust Company of Vermont »
State chartered trust and investment management firm for individual investors, corporations and non-profits. Headquartered in Brattleboro, with offices in Burlington, Rutland, St Albans, Stowe, and Manchester Center.
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 Vermont Society of Certified Public Accountants »
Information on educational programs, jobs, news, events, public information, and finding accountants.
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 A.M. Peisch & Company, LLP »
Offers tax preparation and planning, consulting, information technology and auditing. Locations in Colchester, Rutland, Saint Albans, Saint Johnsbury and White River Junction.
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 Vermont Economic Development Authority (VEDA) »
Provides lending programs for small and medium-sized businesses. Lists featured projects and program details.
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 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.
Make sure the new title is correct. The fact is, most people never see their deed before it's recorded at the county court house, says Gumbinger. He recommends that you ask the lender if you can review the title to the property before it gets filed, so that you can make sure it's correct.
If you have a mortgage, you should keep an eye on rates-especially if you have an adjustable rate mortgage. Getting locked in at a lower, fixed rate can save you hundreds, possibly even thousands, of dollars over the life of your loan.
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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