Mortgage Refinansing Help

Mortgage Refinancing Help: Organizations

“Make sure that your original mortgage does not have a pre-payment penalty or early payoff penalty of any kind. Sometimes people will get into their mortgage with the mortgage having a pre-payment penalty and they will not even know about it. Pre-payment penalties usually range from 6 months to 3 years with a penalty for an early payoff. The penalty is usually about the amount of 6 months worth of your mortgage loan interest, but this varies. You would have to be able to have some significant payment and interest savings on your refinance loan to justify refinancing a mortgage loan with a pre-payment penalty. ”

Mortgage Refinancing Help : Science: Social Sciences: Economics : Organizations (27)

If you know that you will be moving in 3 to 5 years, you might want to consider refinancing to a 3 or 5 year ARM (adjustable rate mortgage). These loans typically have a much lower rate that a traditional fixed rate loan such as a 30 year fixed, but they do have a fixed rate for the first 3 or 5 years of the loan. This will enable you to benefit from the lower rate, but you won't ever have to worry about the risk of a rate adjustment because you will be selling the home before the fixed-rate period ends.

Central Banks@ (29)

Mortgage Refinancing Help: Organizations ()

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Science: Organizations: Associations (44)
Science: Social Sciences: Organizations (2)

Society for Nonlinear Dynamics and Econometrics »
The Society seeks to promote the use of nonlinear methods in economics and finance from both a theoretical and empirical perspective.

Society for Economic Dynamics (SED) »
Provides membership information, and a calendar of future and past conferences.

Society for the Development of Austrian Economics »
Sponsors panels, meetings, a journal, and numerous prizes.

National Association for Business Economics »
An association of professionals who have an interest in business economics and who want to use the latest economic data and trends to enhance their ability to make sound business decisions.

European Financial Management Association »
Provides membership and conference information, job openings listings, and research papers in finance.

Hetecon.com - Association for Heterodox Economics »
Association for Heterodox Economics - Provides links to associations, journals, schools, and conferences friendly to non-traditional economic analysis.

Society of Government Economists »
A private non-profit professional society includes all those concerned with the applicability of economics to public policy issues.

Economic Development and Research Center (EDRC) »
Armenia's EDRC gathers and analyzes data, conducts research, evaluates public programs and services and implements policy advocacy campaigns.

Western Finance Association »
Provides membership and conference information.

International Atlantic Economic Society »
Provides membership, publication, and conference information.

Phoenix Center for Advanced Legal & Economic Public Policy Studies »
A non-profit organization dedicated to filling the substantial vacuum for high quality, objective, independent and non-partisan academic and scholarly analysis

American Agricultural Economics Association »
AAEA is the professional association of scientists who use economic tools to analyze issues and solve problems in the area of agriculture, food, rural communities, and natural resources.

American Economic Association »
Organized in 1885; a not-for-profit scholarly organization which promotes economic research, especially the historical and statistical study of the actual conditions of industrial life.

Society for Economic Research on Copyright Issues »
Society promoting academic research in economic aspects of intellectual property. Publications, information about the annual congress.

Midwest Economics Association »
Organization of professional economists. Information on annual meeting, Call for Papers, registration forms, and issues.

EDIRC - Economics Departments, Institutes and Research Centers in the World »
Economics Departments, Institutes and Research Centers in the World - Many organizations are listed here.

International Association of Agricultural Economists »
A worldwide confederation of agricultural economists and others concerned with agricultural economic problems, including problems related to the use of renewable resources and the environment.

Centre for Growth and Business Cycle Research »
Provides calendar of seminars and conferences, and staff working papers.

Center for Nonlinear Dynamics in Economics and Finance »
Multidisciplinary research institute at the University of Amsterdam provides description of current research and list of staff.

Armenian Economic Association »
Resources for students and educators, publications, upcoming conferences and membership information.

Board of Governors of the Federal Reserve System »
Board of Governors of the Federal Reserve System in Washington D.C.

SABE »
The Society for the Advancement of Behavioral Economics

Econometric Society »
International society dedicated to advancing research in theoretical and quantitative economics. Includes information on the society, membership, past and future meetings, monographs and the journal, Econometrica.

Independent Center for Economic Studies (NOBE) »
Polish research center focuses on the European Union, Poland and Central and Eastern countries. Provides economic forecasts, opinions, and data.

European Association for Research in Industrial Economics (E.A.R.I.E.) »
Society for academics and practitioners in the field of industrial economics. Member services include an annual conference, Young Economists' Essay Award (to stimulate research) and a subscription to International Journal of Industrial Organization.

International Indian Statistical Association »
Provides information on the Association's goals, membership, and conferences.

European Association for Wine Economists »
Links professionals in economics and management sciences with the wine and vineyard world.

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.

Don't escrow taxes and insurance. Unless you're undisciplined, avoid putting monies in escrow to cover your property taxes and homeowner's insurance. There's usually a fee for this privilege that runs under 1 percent of the loan amount, in states where it's allowed. "Paying the fee will allow you to time your tax and insurance payments to your benefit," says Bank South's Steve Austin. For instance, you may be able to prepay taxes that are due next year and use those payments to reduce your current tax bill. Moreover, you get to hang onto your money longer. That may be an advantage when interest-bearing accounts start paying more.

Changing the term of your mortgage can help in several ways. First, if you were to refinance your current mortgage from 30 years to 15 years, you will accelerate the rate at which you pay towards principle each month meaning your house will be paid off quicker. Also, you will save an unbelievable amount of money in terms of interest because you would likely be taking 10 to 15 years off the life of your loan. Second, you can also refinance a 15 year mortgage to a 30 year mortgage. It seems like it might not make sense to do this, but if you have an immediate need to free up monthly cash-flow and you don't want to take out a home equity loan, this can work out to your benefit. When you take a 15 year loan and refinance it to 30 years you will have the same balance only the payments can be hundreds of dollars less than the 15 year loan. The only draw back to this is you will pay more in interest over the live of the loan.

Be Proactive. Your loan representative should keep in contact with you even if there isn't any action on your loan. But do your part to keep the lines of communication open as well. If you don't hear from your loan representative for a few days, pick up the phone and ask for an update. The old adage that the squeaky wheel gets the grease definitely applies in this situation.