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Mortgage Refinancing Help: Manufacturing
“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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Mortgage Refinancing Help
: Science: Technology
: Manufacturing (264)
 Be specific about the loan you want. The more precise you are, the easier it will be for a loan officer or mortgage broker to find the best rate. For example, do you want a 15-year or 30-year mortgage? Do you need a "jumbo" mortgage (more than $333,700)? Are you willing to pay points to reduce the interest rate? The answers to these questions will depend on several factors, including when you plan to sell the house and how soon you want to retire your debt. Only you know the answers, but the sooner you know them, the better.
 See also:
 CSIRO Manufacturing and Infrastructure Technology »
About Australian research and development programs in technology areas including materials, complex systems integration, manufacturing, and construction.
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 CO2 Cleaning »
A surface cleaning process based upon using CO2 to form dry ice and used to remove particles and organics.
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 Dr.Jun Shinozuka (Ibaraki University, Japan) »
Includes details of how to simulate metal cutting mechanisms and the propagation of stress waves with FEM. It also provides details of how to build a model Stirling Engine.
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 NIST Engineering Laboratory. »
Conducts research and development, provides services, and participates in standards activities related to U.S. industry needs in mechanical and dimensional metrology and in advanced manufacturing technology. In National Institute of Standards and Technology.
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 MaintenanceWorld.com »
Maintenance management resource site. Articles, books, discussion forum and references for maintenance planning, condition monitoring, TPM, CMMS, SAP plant maintenance, training, and safety.
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 JMI Consulting Group »
Source for simulation modeling consulting, training and simulation education products .
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 Advanced Materials, Manufacturing and Testing Information Analysis Center »
AMMTIAC is a Department of Defense information analysis center for the promotion and exchange of manufacturing technology information and the support of manufacturing technology needs.
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 Know your credit score before you begin looking for a loan. If you can, try to remove any blemishes from your credit report before applying for a refinance.
Calculate the financial benefit of refinancing in one, two, or three years. Does the benefit compare with your plans for staying in your home?
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.
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.
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