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Mortgage Refinancing Help
: Society: Government: Finance: Regulators
: Insurance (75)
 Calculate the financial benefit of refinancing in one, two, or three years. Does the benefit compare with your plans for staying in your home?
 See also:
 Australian Prudential Regulation Authority (APRA) »
Responsible for prudential regulation of the financial sector and the authorising of insurers.
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 United Kingdom - Financial Services Authority (FSA) »
Financial Services Authority (FSA)
- Independent body which regulates financial services. Site is organized by topic, not business class. Thus insurance content will be found in topics such as News, Consumer Help, and Industry Help.
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 Chile - Superintendencia de Valores y Seguros de Chile (SVS) »
Superintendencia de Valores y Seguros de Chile (SVS)
- The Chilean Securities and Insurance Supervisor is an autonomous corporate body affiliated with the Chilean government through the Ministry of Finance. [Spanish, English]
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 Hong Kong - Office of the Commissioner of Insurance (OCI) »
Office of the Commissioner of Insurance (OCI)
- Ensures that the interests of policy holders or potential policy holders are protected and promotes the general stability of the insurance industry.
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 Isle of Man - Insurance and Pensions Authority »
Insurance and Pensions Authority
- Presentation of the jurisdiction's regulatory environment and contact information. Claims to "deter the unscrupulous without hindering forward thinking dynamic companies".
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 South Africa - Council for Medical Schemes »
Council for Medical Schemes
- Autonomous statutory body, established by the Parliament of South Africa to provide supervision over medical schemes. Site describes organization, legislation, and offers consumer assistance.
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 India - Insurance Regulatory and Development Authority (IRDA) »
Insurance Regulatory and Development Authority (IRDA)
- Established by Parliament to protect the interests of the policyholders, to regulate, promote, and ensure orderly growth of the insurance industry.
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 Latvia - Financial and Capital Market Commission »
Financial and Capital Market Commission
- Protects the interests of investors, depositors and the insured, and promotes the development and stability of financial and capital markets. [Latvian, English]
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 Romania - Insurance Supervisory Commission »
Insurance Supervisory Commission
- Independent authority which actively seeks to protect the insured's rights and to promote a stable insurance environment. [Romanian, English]
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 South Africa - Insurance Department »
Insurance Department
- Part of the Financial Services Board (FSB). The Department consists of two divisions: Registration and Policy, and Prudential Supervision.
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 Guyana - Office of the Commissioner of Insurance »
Office of the Commissioner of Insurance
- Regulatory body established by the Parliament of Guyana.
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 Be Patient. Processing all of the paperwork that's required for a new loan takes time. Be patient while your loan moves through the system. Protect your credit score by paying your bills and making your mortgage payments on time and not taking on any more new debt than you absolutely have to.
Homeowners who want to refinance but can't because they owe more on their home than their home is worth (also known as "upside down") should focus their time and energy on making more money. Adding a part-time job or starting a side business will bring extra income into the household, income that can be used to make extra payments a mortgage.
When evaluating different lender offers, in the mortgage loan pre-approval process, pay closest attention to the interest rates they are offering & the closing costs. These are the two biggest factors that will help you figure out which lender is right for you. If one of these two factors is too high, it could offset the benefit of refinancing for you.
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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