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Mortgage Refinancing Help
: Science: Technology
: Materials (420)
 If you plan on moving out of your existing home within the next few years, it may not be beneficial for you to refinance. Make sure you let your mortgage specialist know your future plans.
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 The Advanced Materials, Manufacturing and Testing Information Analysis Center »
AMMTIAC provides information, technical support and engineering services and maintains the DoD's knowledge base in AMMT technology. It also publishes the AMMTIAC Quarterly, reports, handbooks, databooks, critical reviews and technology assessments.
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 MarkeTech International, Inc. »
Offers an extensive line of advanced materials including aerogels, electrochemical materials, super conductive products, single crystal substrates and parts, engineered ceramics, alumina, tungsten, and sputtering targets.
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On-line access to National Academy of Sciences and National Research Council reports on materials topics.
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 Rajput, Deepak »
Materials scientist working on femtosecond laser micromachining, nanoneedles fabrication, and laser based protective coatings on graphite. Also owns the Rajput Corporation in Indore, India.
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 Elastic and Thermal Properties Database »
Temperature dependent material properties as tabulated data, an Excel equation, a C/C++, FORTRAN or BASIC function or subroutine, ABAQUS or ANSYS formats. Full version contains elastic modulus, thermal expansion and thermal conductivity. Data for elements provided free in demo version.
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 MatWeb »
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Examples for specific failure types and problems in various engineering materials and components.
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A crash course in texture and a freeware program for texture determination in the download section.
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Internet resources on chemistry in construction technology and material science. An indexed and annotated directory.
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 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.
If there are only a few years left on your current loan, it's no use refinancing with a long term loan. You may need extra cash but with a long term loan, you'll end up paying more for the entire loan term.
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.
You have a legal right to a good faith estimate. Get a copy of this document and go over it with a fine tooth comb, it will reveal where there is a real problem.
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