Refinacing

“Cui Bono” is Latin for “to whose profit?” and is the essential question that needs to be answered before refinancing

Refinancing a home should be among the simplest of mortgages to complete, however, it can also be one of the most challenging processes you can go through. That’s partly because the rulebooks for mortgages have been dramatically revamped following the mortgage crisis of 2008 and partly because there are so many different refinancing scenarios. The point here is that putting the puzzle pieces together and sorting through your options in most cases requires an experienced and resourceful mortgage professional.

Each of the articles below are designed to answer some of the common questions that come up during the refinancing process.

Credit Repair: A Simple Self-Help Guide

Let’s face it – we’re all obsessed with it. Everywhere you turn, you are being inundated with the importance of it, how with ‘good’ ones, you are a master of the universe; with ‘bad’ ones, you are nothing. By now, you’ve figured out that I’m talking about credit...

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Should I do a cash-out refinance?

There are all sorts of “recommendations” on doing a cash-out refinance that homeowners will receive along their journey. Most of these will focus exclusively on various ways that homeowners may use their home as a piggy-bank to consolidate debt, do home improvements,...

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Should I refinance to lower my rate?

There are all sorts of “recommendations” on lowering their interest rate that homeowners will receive along their journey. Most of these will focus exclusively on how a lower rate must be better because it’s, well, lower. Others will promote shorter terms or suggest...

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Should I refinance to lower my payment?

There are all sorts of “recommendations” on lowering their monthly payment that homeowners will receive along their journey. Most of these will focus exclusively on how a lower payment must be better because it’s, well, lower. Others will promote how much you will...

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What Documents Will I Need?

The list of documents needed for a refinance will vary based on your individual circumstances. Here’s the core list of documents that everyone will need to provide along with some of the possible additional items. Always Needed: W-2s or 1099s for the most recent...

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What About Closing Costs and Escrow Accounts?

One of the important things to consider when refinancing is how you want to fund the closing costs and new escrow account. There are several ways to handle these items and a couple of big ideas that can make a difference in the decisions you make. First, let’s explore...

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Things You Should Be Thinking About

As soon as you take that first step towards refinancing, you are diving into a Tsunami of information overload. The natural reaction is to shut-down and deal only with the absolutely necessary items and that’s as it should be – we can only absorb so much information...

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