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Mortgage Refinancing Help: Management
“For both new buyers and refinancers, it's important to understand what a no-cost mortgage loan or a no-cost refinance loan really means. "No cost" does not mean that closing costs (also known as settlement costs) have been erased. It means that the closing costs will be factored into the interest rate associated with the loan. Of course, this also means that, all other things being equal, the interest rate associated with a no-cost mortgage will always be higher than one where the borrower pays the closing costs up front.
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Mortgage Refinancing Help
: Society: Organizations: Nonprofit Resources
: Management (34)
 If you want to make sure the interest rate your lender offers you is the rate you get when you close the loan, ask about a mortgage lock-in (also called a rate lock or rate commitment). Any lock-in promise should be in writing. Make sure your lender explains any costs or obligations before you sign.
 See also:
 Results Oriented Management and Accountability »
A resource for agencies implementing outcome-based management strategies for community, state, and federal programs participating in the Community Service Block Grant programs.
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 Kissman, Katha »
Individual providing interim management service to US nonprofits. Background and contact information, testimonials.
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 Milano Nonprofit Management Knowledge Hub »
A free peer-reviewed site that links practitioners and academics to useful sites on the Internet. Readers can also find free managerial resources and scholarly documents and data. The site is produced by the Nonprofit Management program of New School University's Robert J. Milano Graduate School of Management and Urban Policy.
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 The NonProfit Times »
National business publication focusing on nonprofit management.
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 Center for Effective Philanthropy »
Provides foundation executives and trustees management and governance tools to define, assess, and improve performance. Includes publications, seminars, and research programs.
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 Iknow.org »
Web portal providing detailed information and links of interest for nonprofit management.
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 CARA: California Advancement Researchers Association »
California professional association of researchers who work for non-profit institutions. News, job listings, membership application.
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 Alliance for Nonprofit Management »
Membership association that delivers management and governance support services to nonprofit organizations.
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 Gift Planning Associates »
Company providing assistance in the development of planned giving programs. Frequently asked questions, company profile, client list and testimonials.
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 Management in the Not for Profit Organization »
A few articles discussing various management models and philosophies in the non-profit sector.
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 Strategic Solutions »
Initiative to expand the use of strategic restructuring among American nonprofits. Newsletter, publications, information on training sessions.
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 Leventhal/Kline Management Inc »
Offering advisor and consultant management services to philanthropic foundation management.
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 Free Management Library for For-Profit and Nonprofit Organizations »
Provides an extensive collection of basic, how-to management information to managers, particularly for those with very limited resources.
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 Mandel Center for Nonprofit Organizations »
A multidisciplinary center for education, research, community service, and other resources for nonprofit management, affiliated with Cleveland's Case Western Reserve University. Site features information on graduate programs, current projects, and faculty, as well as the Nonprofit Notes newsletter in PDF format.
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 Social Marketing Institute »
Foundation promoting the use of commercial marketing concepts and tools in programs designed to influence individual or social behavior. Publications, success stories, events, employment listings in the field.
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 Levelheaded »
Provides training, consultancy and other support services for organizations. Press clips, corporate and service information.
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 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.
If you are planning to stay in your home for several years, then you can save money by paying points for lower interest rates. You pay up front fees to ensure you have lower interest payments over the course of your loan. Remember, this only works if you keep your mortgage for several months.
Many people with poor credit history look to take out loans from friends and family. While this may be a fairly good short term solution, it might not be the smartest of long term business moves. What you need to do is refinance your mortgage and lower your payment. The best thing you can do for yourself is to shop around. I'd be willing to bet that some banks will give you a better deal on a mortgage refinancing than you think they would. Find out who's got the best rate to get the best deal on your loan. This might take a little legwork, but it could pay off. Finding that right bank to give you the right deal on your refinancing will be worth the effort.
Pull your credit report from the bureaus and review it for any negative items (late pays, collections etc) and inaccurate detail. Try to dispute negative items and remove them from the report. If required pay off any unpaid debt. Otherwise, you won't get a low rate and may not even qualify. Of course there are lenders in the subprime market who may offer you a bad credit refinance loan, but it's better to avoid them as they'll possible charge higher rates and fees.
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