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Mortgage Refinancing Help
: Society: Work
: Temporary Employment (9)
 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.
 See also:
 National Alliance for Fair Employment »
Homepage for a network of over 40 regional and national groups in the U.S. and Canada fighting for better pay, benefits and working conditions for all workers in temp, part-time, day labor, contract, on-call and independent contractor jobs.
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 Tempcity »
Directory of staffing firms, temping resources and tips on getting temp jobs with temp agencies.
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 Center for a Changing Workforce »
The center analyzes public policy and is an advocate on behalf of 'permatemps' and contingent workers across America.
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 Tempcity USA »
A discussion board for temps.
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 Temping Escapades »
Humorous tales of a temp.
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 Campaign on Contingent Work »
A Boston, MA based organizing and resource center for workers in unstable temp, part-time and other contingent jobs.
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 Temping Offers a Way to Build Your Resume »
Article praising temping as a great way to gain experience, learn new skills, and build one's resume.
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 Silicon Valley at Work »
Helps workers negotiate the difficulties of contingent employment in Silicon Valley. Provides a forum for temporary workers to share and benefit from the experiences of others.
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 Siegel Capital, LLC »
Specialize in small business loans for acquisitions, expansion and refinancing.
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 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.
If you are making payments on a long term loan, say, 30 year mortgage for the past 10 to 20 years, then refinancing to another 30 year loan will not be a good option as it may increase your overall payment.
There is no such limit on the number of times you can go for home refinance loans. Most lenders prefer that you have no late payment for the past 12 months before you switch over to a new loan.
Ask for more than just rates. Bad loan officers will tell you anything to keep you on the phone -- then change the details to suit them later. Instead, make them get real with you! Ask how long they've been in the industry. Probe them about their experience in the industry. Also, ask what their opinion is on the current market and where it's going.
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