Is it better to refinance your mortgage to a lower interest rate or continue with an existing mortgage? What factors should you consider when refinancing a mortgage loan? Determining whether it’s a good idea to refinance a mortgage depends not only on the interest rate but also on how long you plan to stay in the home. Learn more here about how to refinance your mortgage in the articles, columns, radio shows, blog posts and videos.
Is Now The Time To Refinance?
It's hard to predict if interest rates are going to go up or down, so it's tough to know the best time to refinance. The best strategy for refinancing is figuring our your options at today's rates and shopping around for a good lender.
To Refinance You Need A Job
To remove someone from a mortgage loan, you have to refinance. To refinance a mortgage loan you have to show that you can make payments, through the form of holding a job. You can't refinance a mortgage loan without a job, even if both parties want to speed up the refinance process. In addition, if you want to sell the home you need to have permission of the other person whose name is on the mortgage.
Refinanced Mortgage In One Homeowner’s Name, Title In Both Homeowners’ Names
What do you do if you purchased a home with a friend who ran into some financial difficulties, and the home was refinanced in the your name only? Should you have mortgage refinanced in your name only, even if the title is in both names? If you do, you will be stuck with all the financial responsibility of the refinanced mortgage while the friend has none.
Real Estate Minute: Have You Refinanced Your ARM Yet?
Real Estate Minute with Ilyce Glink Have You Refinanced Your ARM Yet? Original Air Date: September 25, 2006
No Lawyer Needed For Refinance
A loan officer told a home buyer that he does not need to use a lawyer when refinancing a mortgage. Using a lawyer is not mandatory, but if you do not understand the documents you're signing, you'd be wise to show them to a real estate attorney who can walk you through the various disclosures lenders are required to make, and the jargon they use to make them.
Refinancing A Home For Repair And Estate Planning
Refinancing a home for repair and estate planning purposes can be a challenge for a person who is doing this for an elderly loved one. If the property is in the elderly person it's best to speak with a mortgage lender who specializes in loans to senior citizens, in order to refinance and repair the home. Speaking to an expert in this field can help the person decide whether to refinance and repair the home, or whether selling the home now would be the better option.
Refinance Or Sue To Get Name Off Mortgage
When you buy property with a partner and you're not married and you haven't signed a partnership agreement, it can be difficult to undo the transaction. To get your name off of a mortgage for a property that you no longer own or live in you need to have the other person refinance the mortgage or sell the home. If the other person refuses to refinance or sell, you may need to go to court to force a sale of the property.
Refinance Balloon Loan? Or Pay Off With Equity From Primary Residence?
Can you refinance a balloon loan on a second property and if you are worried that interest rates are going up and that he should refinance before the loan comes due. Ilyce Glink suggests waiting to refinance until the balloon loan is due. You could also pay off the balloon loan with equity from your primary residence.
Lender Baiting And Switching Mortgage Rate
A lender agreed to give a homeowner a certain interest rate when they signed a good faith estimate. Now the rate is higher and the borrowers are being told they never locked in the low rate with the lender. The lender may have pulled a bait-and-switch with the interest rate.
Refinancing Home With A Bad Credit Score
Can you refinance your home if you have a bad credit score? Ilyce discusses how to make corrections to credit history, and boost your credit score so you can work with lenders and refinance your home. Ilyce also offers tips on how to improve your credit score and refinance your home within six months.