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Mortgage Refinancing Help: Demography and Population Studies
“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.
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Mortgage Refinancing Help
: Science: Social Sciences
: Demography and Population Studies (92)
 Be Realistic. Lenders have tightened up loan requirements, so you'll need a good credit score and at least some equity in your home to refinance. To figure out how much equity you have, subtract the total amount that you owe on all of your existing mortgages from how much you think your home is worth. If your credit is severely impaired or you owe more than the value of your home, you probably won't be able to refinance right now.
 See also:
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Vital population statistics for countries presented in a sortable display.
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 Integrated Population, Land Use, and Emissions Data Project (CIESIN) »
Linking georeferenced demographic and socioeconomic data with remote sensing data on land cover and use. Site offers access to several significant population-related and geographic databases.
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 H-Demog: Historical Demography »
H-Net discussion group dedicated to research, teaching, and historiography. Features subject overview, archives, reports, affiliations, links to related lists and resources, and subscription details. Includes interactive demographic data viewer.
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 Development Education Program, World Bank Group »
Teaching and learning materials on social, economic, and environmental issues of sustainable development, including extensive information on interpreting demographic data.
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 National Statistics Offices »
Index to national statistics offices worldwide.
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 Center for Demographic Research »
A non-profit research center providing on population, housing and employment plus GIS mapping services and a range of publications.
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 City Population »
Principal cities and agglomerations of the world and of many countries (tables and maps).
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 Population Review »
A journal of demography and population studies focusing on both the developing and developed world.
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 Many 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.
Close inactive credit card accounts to improve your credit score, making you eligible for lower interest rate loans. You will need to notify the credit card companies in writing that you wish the accounts closed on your request. Next, check your credit report after 30 days to be sure closed accounts include the comment "Closed at Customer's Request." You want future lenders to know it was your request and not bad credit that closed your accounts. Also, take the time to check for any mistakes in your credit report that could negatively impact your credit score.
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.
Refinancing may not be that useful if you have already used up 90% or more of your home value in taking out a mortgage or any home equity loan. You won't be able to get the best rates available in the market as when you refinance a 90% LTV loan, you will probably require a loan of that value or higher. This will be quite closer to being a 100% financing option and hence mortgage refinance rates will be comparatively higher. Moreover, 100% loans are hardly available in times of mortgage market crisis.
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