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Mortgage Refinancing Help: People
“Refinancing is not the only way to decrease the term of your mortgage. By paying a little extra on principal each month, you will pay off the loan sooner and reduce the term of your loan. For example, adding $50 each month to your principal payment on the 30-year loan above reduces the term by 3 years and saves you more than $27,000 in interest costs.
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Mortgage Refinancing Help
: Science: Social Sciences: Economics: Financial Economics
: People (10)
 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.
 Janecek, Karel »
Ph.D. candidate in Mathematical Finance at Carnegie Mellon University provides several research papers for download.
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 Mankiw, Greg »
A sequence of observations on financial- and macro-economics.
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 Pasquariello, Paolo »
Assistant Professor of Finance at the University of Michigan Business School. It provides vita, working papers and published papers on international finance and asset pricing.
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 Buiter, Willem »
With particular interest in monetary matters and monetary unions.
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 Ammann, Manuel »
Papers by the Professor of Finance at the University of St. Gallen.
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 Jenter, Dirk »
Research on corporate finance, insider trading, executive compensation, and individual portfolio selection.
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 Lyons, Richard »
Personal page at the Haas School of Business provides research on currency market microstructure.
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 Chourdakis, Kyriakos »
Homepage of lecturer at the University of London, Queen Mary provides working papers, data, and computer code on derivatives, financial economics and Markov chain models. Provides lecture notes for derivatives course.
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 Watkins, Jonathan »
Home page of PhD student at the University of Missouri-Kansas City.
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 Goodhart, Charles »
Links to recent works of the team of the LSE Professor Emeritus of Banking and Finance.
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 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.
Get your interest rate and closing costs in writing as soon as you decide on a lender to work with. Get your lender to give you a commitment in advance of all of the costs that will be involved with your loan. Find out if the refinance loan you are getting has a pre-payment penalty as well. Sometimes lenders will leave out important information like this, if they think it might scare you away from refinancing with them.
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.
Unless you are getting a lower interest rate, refinancing your home may cost you more money in the long run and may require you to pay higher monthly payments.
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