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Mortgage refinancing? I refinanced 4 years ago for 15 yrs.Would I be better off refinancing for 30 yrs and paying more on my principal each month?

Mortgage Refinancing market: good or bad right now? I am a soon to be college grad that is currently interviewing with Wells Fargo to become a Credit Manager in the Chicago land area. Is the mortgage refinancing market a strong place to start a career right now? Fill me in on your thoughts. If you could, please tell me if you are in mortgage refinancing business or not. Thanks , The more responses the better.

Can a person on the title but not the mortgage stop me from refinancing? I have a loan contract with a person on the title (individual property grant deed) in which the contract for the loan "shall continue until the property is sold". Even though I am not selling the property, I have offered a buyout amount for his 10% share and he is threatening to block any refinancing unless I meet his demand for a buyout amount. We differ on the appraisal amount of the property. My appraiser was approved by my lender and is a Certified Residential Real Estate Appraiser in California and I have no idea if or what type of appraiser he used. Can he do this even if he is not and will not be on the original mortgage or the refinanced mortgage? Would it be better to rescind the offer and just wait to pay him when I sell at a later date? Please let me know if you have any ideas on how to handle this situation.

Would it be better to pay large lump sum to current mortgage before refinancing? Currently looking at refinancing home, but can't decide if it would be better to add additional monies to current mortgage to lower amount to be refinanced, or refinance and put that sum onto new mortgage.

How do I get my ex-wifes name off my mortgage without refinancing? I live in PA. My divorce is almost final. I am keeping the property that I live in. It has an extremely low interest rate. I don't want to refinance if I don't have to. How can I get her name off the mortgage without going through the added expense?

What are the differences between going to different lenders for a Mortgage refinancing? I am working with my original lender to refinance my house, but I'm curious as to what advantages I have of looking somewhere else. Can the rates be lower from one lender to another or does the market pretty much make it the same for all?

What company has a good reputation for mortgage refinancing in this market? I'm in Wisconsin.

Is it possible to change mortgage companies without refinancing? Our mortgage was sold to a really crappy company. We have thought of refinancing, but then we realized we have a really good rate for another 18 months (we have a 5 year ARM) and won't be able to find anything as low as we have now. It's completely unfair that we don't have a say in who gets our mortgage. I doubt we can have someone else buy it, but it was worth asking the question. See my question about filing a complaint against a mortgage company and you'll see why I hate them.

Mortgage refinancing- do it now, or wait? What direction are rates currently projecting on going? Would it be better to refinance now at about 6.5% fixed for 30 years, or wait a few months? What's the rate outlook? This is for New York.

Question about refinancing a mortgage and the tax implications? My future son-in-law is trying to refinance his home mortgage. The man handling the refinance suggested that he might get a lower interest rate if he included my daughter's income and assets. They are unmarried, living together in Minnesota and expecting their first child in December. There are two parts to this question: Part One - Is this true about the possible lower interest rate and a good idea? and Part Two - Would they have to file taxes together from that point on? I would appreciate any advice and comments. Forget about Part Two of my question - I already know the answer to that, I don't know where my mind was. Appreciate answers/advice on part one. Thanks

How does refinancing the current mortgage help? When one should refinance home mortgage? Does it help to bring the number of period of payments down? If so how?

How do I get lower interest rates with mortgage refinancing?

Refinancing mortgage to make down payment on investment property? I bought my primary residence 2 1/2 years ago for $60,000 and put $20,000 into it (it was a "fixer upper"). It now appraises at $145,000. I plan on refinancing my $60,000 mortgage to pay for the debt of $20,000 (mixture of credit cards with 0% intros that are running out!) and to make a 20% down payment on an investment property (so I can avoid PMI). I plan on getting another slight "fixer upper" and only want to put in 10-15k into it. I will rent it out for a year or so until I think ive reached a good profit and sell it. Plus I only want to have to pay 15% tax rate instead of like 33% (long term investment). I am not familiar with refinancing. Should I first get a contract on a property so I can refinance just enough to pay the debt, 20% to put down on the house and alittle money to fix it up? OR should I just estimate and refinance now and keep that money in the bank. I would hate to pay interest on money just sitting in the bank. Or do you know another way of doing it?

After refinancing how long dose it take to pay off your existing mortgage? Hi I just refinanced my mortgage and it closed a week and a half ago. I refinanced with the same company, went online and it showed the new loan on there with the first payment. It also showed the old loan showing a payment.

What is the simplest way to explain mortgage refinancing to a client?

Will I get my escrow money back from American Home Mortgage after refinancing? I refinanced 2 weeks before American Home Mortgage declared bankruptcy. They still owe me my escrow money (a new escrow account was created at closing with the new company). Is the escrow money legally mine and protected from the company's bankruptcy, or can the company default on paying it back? Thanks! The AHM mortgage was paid off and my new mortgage and new escrow are already in effect with my new company. The procedure was the AHM escrow was to be refunded to us and we already have a new escrow in place. While waiting for the AHM escrow to be refunded to us, AHM declared bankruptcy. Is the escrow money legally mine? Continuing to make payments is not the issue--we are already paying mortgage payments and already set up a new escrow with the new company.

how much should closing costs be for refinancing a mortgage? I owe about 142,000 on my house. I got a quote to refinance and the closing costs are nearly 6,000! This is comparable to what the closing costs were when I initially purchased my home. Should it be this much to refinance the mortgage? (There are no problems with our credit, just a normal refinance for a lower rate)

When refinancing mortgage will it reveal credit details to spouse? My spouse and I are going to be refinancing our mortgage and added me on. I did check my credit and found that I have a good fico score. However, my spouse doesn't know about a couple credit cards that I have. Will these details be revealed when we go through the refinancing process to him, or is it more important that I just have a good credit fico score enough that any other details won't be revealed?

Refinancing a mortgage with an already low interest rate.? I have a 30yr fixed 4.93% interest on my 140k home, I currently owe 130k. My monthly mortgage is $1.116. If I refinance, according to several sources, I can lower my monthly bill to the 700-800 range. How is this possible if I would be refinancing at a higher interest rate, around 6%? With my fixed low rate, is there any reason besides a catastrophic event to refinance? The $1116 monthly payment includes all insurances and taxes. We did 100% financing, and had to come up with about 2k for closing costs. We've had this mortgage for 3 1/2 years.

What is the mathematical formula to calculate/determine suitability of mortgage refinancing options?

Where do I find current information about mortgage modification, refinancing, and new mortgage rules? There is a lot of talk about mortgage modifications, refinancing and new mortgage rules, but most info is so basic that everyone just keeps repeating the stuff already known. Can anyone suggest a place with more advanced and very specific articles stating the facts with references back to the primary sources?

mortgage refinancing.? I refinanced 4 years ago for 15 yrs.Would I be better off refinancing for 30 yrs and paying more on my principal each month? I am trying to free up cash flow. My monthly note , I pay every 2 weeks about 900.00 a month. I was jsut wondering if I am really benefiting with a 15 yr mortgage. Would paying extra on principal each month be just as good.

Is it a bad idea to apply for a credit card while in the middle of a mortgage refinancing process? I have a high credit score (760), and was approved for my bank's best rate. The refinancing process is taking awhile, and I would like to get a better rewards card than what I have. Would it be a bad idea to apply for a new credit card before the refinancing closes?

How do you go about refinancing your mortgage? I have a 5 year interest only mortgage and just closed on my condo 4 months ago. It appears rates are lower. How do I go about refinancing and what are the advantages? If it's lower should I autmoatically do it?

Can I lower the interest rate on my mortgage without refinancing? I am considering refinancing, but I am not really too sure yet. Is there any way that I could call my current lender and just negotiate a lower interest rate with them? This way I could possibly avoid all of the closing costs, etc that are associated with refinancing. Has anyone had any luck with this?

After refinancing how long dose it take to pay off your existing mortgage? Hi I just refinanced my mortgage and it closed a week and a half ago. I refinanced with the same company, went online and it showed the new loan on there with the first payment. It also showed the old loan showing a payment. sorry this old loan showed a balance and a payment due for this month.

What are the negotiating terms/drivers for a 40 year fixed rate home mortgage refinancing deal? I'm looking to obtain the best deal possible, so help me with the hidden quirks on this of type of transaction.

Has anybody applied for a mortgage refinancing to consolidate credit cards? And if you had, did the mortgage people had to issue themselves the checks to the credit cards or you did? Thanks.

At what point in my mortgage refinancing am I still able to withdraw my loan request in favor of a better rate? I locked in when my lender offered 5.5% but now rates are in the 4%s. I've turned in some signed documents and the closing is next week. What are my options? Can I reneg?

Can a person refinance a home equity loan, as opposed to a refinancing a mortgage? ? A couple of years ago, my spouse and I doubled the size of our home which we had owned "free and clear." To do so, we took out a 20 year home equity loan for $250,000 at a rate of 5.85%. Since we already owned the home and this was technically not a mortgage, there was no downpayment on this loan. With rates coming down, do we have any hope of refinancing our home equity loan? Or, is refinancing basically restricted to mortgages? Thanks.

Can you add a spouse to the mortgage within months of refinancing under one name? My fiance recently refinanced the house we have been living in for 3 years. He bought it right before we met. He got a great rate and we are saving a ton on the mortgage. We are getting married in a few months and we are hearing from other people that we may not be able to add my name to the mortgage w/out refinancing? but he just did? Does this mean we have to wait for my name to go onto the mortgage or are there other options?

How to go about refinancing my mortgage? I have bad credit, my mom financed a home for me. at the time, 3mos ago, her credit score was like 620 but she had bad debt that was paid off right before getting this loan leaving her with no outstanding debt, save for the new mortgage. She pays all her bills on time, I have made 2 mtg payments before the due date. I have an 80/20 loan that ha sreally high interest 8.25 and 12.5. I need to refi ASAP how soon can I do this and can I consolidate both loans into one when doing so? My mom is going to be 65 in feb making her eligible to have a senior discount on taxes (about 3200.00 less) should I just keep the loan in her name for the perks or should I try to get the financing under my name again? We are on the deed as co owners with sole survivorship~ doe sthis mean my 7 siblings will not be able to try to get the property from me when she passes away? I pay for everything, but the loan is in her name. Sorry so long. I appreciate any insight and advice! BTW~ I am in Illinois

How can i reduce closing costs while refinancing my mortgage with good credit? Hello mtg. gurus. What would you suggest in the way of reduced closing costs and APR? What can I do to get a great mtg? I have found a way to get rid of FHA financing on my mtg. Are there any other things?

We need help with mortgage refinancing? Me and my wife have a low credit score and were are behind two payments on our mortgage, our balloon is about to pop and we need to refinance but we can not, and i mean NOT what so ever find help in refinancing at a lower rate....i am extremely afraid of losing my house. Anyone know anything that can help?

Refinancing or getting a 2nd mortgage during bankruptcy? My friend currently has an ARM mortgage and is in bankruptcy. She needs to know if there is anyway for her to get a second mortgage or to refinance the mortgage she has right now while going through bankruptcy. I told her I didn't believe she would be able until after the bankruptcy but I would check around anyway. Thanks in advance all.

What is the cost of refinancing with the same mortgage company? payoff 2nd & credit card loans? I want to refinance my 1st mortgage with the same lender, pay off 2nd mortgage from another lender, get cash out for to pay off other loans. Total amount to borrow is $330,000.00. How much should the lender charge to do this?

Mortgage Refinancing agents/experts/specialists in New Jersey? Hi I want to know how to get the information of Refinancing agents for Home Mortgage. For example, our term insurance was handled by agent who took in our info, ran the numbers, spoke to companies and brought us few options/choices we can select. Do we have someone like that for home mortgage refinancing? Thank you in advance for all your help

Would Dave Ramsey approve of refinancing my mortgage? I owe about 20% of the value on an investment property. Should I refinance the house to get equity out and pay off everything I owe and be debt free other than my primary residence mortgage and this investment property mortgage? Its pretty tempting to only have two house payments and attack them aggressively. FYI - I have a good history of keeping the house rented for well above what the mortgage payment is. Only Dave Ramsey listeners/smart financial debt free people respond please.

How long does it take to pay off existing mortgage after refinancing?

Does refinancing a mortgage hurt your credit score? I am in a arm loan and am looking to refinance after 2 years. I heard that refinancing can drop your credit score up to 30 points? Am i better off trying to sell or refinancing if i'm planning on selling after 5 years?

Has anyone with a Wachovia mortgage had any success refinancing or modifying their loan? I just spoke to a Wachovia rep and he said they're not offering the Hope for Homeowners program nor the Homeowner's Affordability Program. What's going on? I thought the government put these programs in place to help stabilize the mortgage crisis. Has anyone out there had success with a refinance/modify on their mortgage? If so, which bank are you with and how did you do it?

Do I have to use escrow when refinancing my mortgage? I am refinancing and my loan officer says that I have to pay $2000 for using escrow. Is there a way around it? I thought that escrow was unnecessary when refinancing. Isn't it needed only when purchasing or selling real estate property?

the bill president bush just signed for home mortgage refinancing? if so how and when can we refinance using this gov. bill

Questions about refinancing home mortgage? i put this in the wrong section? with the fed cutting the rates so low, now would be a good time to think about refinancing right? my mortgage interest rate is currently 6.25 fixed, i think we owe about $95,000 on it. my husband and i have excellent credit, and we've been in our home for 5 years. would refinancing lower our monthly payment significantly, how much does it cost to refinance? oh weve also paid our mortgage through march, so how would that work if we did decide to refinance

What is the difference between refinancing a mortgage and getting home equity line of credit? My mom wanted to know! =] Thanks!

Who is the most reputable agency/company to deal witin MA with when it comes to refinancing your home mortgage? I'm looking to refinance my home. I want to deal with a very reputable agency/bank/mortgage company in Massachussetts. Any recommendations?

How does refinancing your mortgage affect your credit score? If someone wants to refinance how does it affect their credit? Will it help since it will show one loan as being paid off and another one being opened? Or does that even eachother out?

Help me understand mortgage refinancing? We have about $30k in equity on our home, and currently have a 30 yr fixed at 6.9%. I'm not sure if refinancing will help or hurt us. My student loans are at 7.22, but I only owe another $3500, and my auto is 1.9% and I owe about $6500. I thought about paying those off with the cash from the refi - is that a bad idea since the auto loan is at a lower rate? I thought since the mortgage interest is a tax right off and the auto loan isnt...? If we aren't sure how long we'll be in this house, is refi a bad idea? I'm pretty confused about this - any help would be greatly appreciated.

How will I save money from mortgage refinancing?

Is there any way of getting rid of my PMI on my mortgage without refinancing or getting an appraisal?

Does it make sense to buy mortgage points by refinancing? I know that points reduce the interest rate and they can be deducted during the life of the mortgage, but does it really make sense financially to buy mortgage points or do they cost more than the benefit they offer?

I have a 5 year ARM mortgage and i need advice on refinancing to a fixed rate mortgage? When I bought my house it was worth 291,000 where I made a down payment of 20,000 and now I am having an appraisal getting done and with the housing market as it is, i'm sure its worth much less. I originally had a 5 year ARM mortgage at a 5% rate but am now looking to refinance to a longer fixed rate mortgage. What are my options?

I need to do a Rapid Rescore for my credit. I am not refinancing so no mortgage broker. Who do I call? If I had a mortgage broker, I could have him/her do it since many of them are able to arrange contacts with the credit bureaus to update my credit file. But I am not refinancing and firms that do Rapid Rescore appear to only work with mortgage brokers. I am trying to find a way around this. I want to act quickly to take advantage of credit opportunities that have a time limit on them. I have to correct an error and the credit bureaus' standard procedures take too long. So, in short, I need to find a company that does Rapid Rescore for the general public. I need a phone number, a website, address, etc. Also I would like feedback on someone's successful story in having done it him/herself. Thank you.

Is it true that refinancing mortgage can decrease my monthly payments?

What is the best way to go about refinancing your home mortgage? I generally know that I would try to find a bank or lending place that will offer me a lower rate than I currently have, but was wondering how to make sure the new terms are to my advantage. For example, my realtor helped me go over my mortgage materials originally and do not want to agree to something that isn't a good idea, i.e., hidden fees.

What is home equity and how does it relate to refinancing your mortgage? Thank you.

Mortgage Finance Experts: How will the market affect homeowners who will be refinancing next year? My parents bought their home 4 years ago at a 4% rate, which is due to change next year when their loan rate. With the market crunch and the new strict lending that's bound to occur as a result of this, they are worried about what refinancing has in store for them. The good news is that they have flawless credit (they successfully removed their PMI, and they are early every month on their mortgage payments ---and they pay an extra couple of hundred dollars than they should. Not to mention their credit card debt is very low (only a couple of thousand dollars). They've both been at their great paying jobs for over a decade; but they are still worried about whether they will be able to secure a decent fixed rate when their mandatory refinance is up. Any hope?

Can anyone explain the points system in refinancing a mortgage? I understand loan officers charge certain amount of points to do the loan, and i know a buyer can purchase discount points. But why do they have those points and why do they sometimes charge points out the back? and how does their amount of points help the Loan officers profit or commission? i would really apreciate a response, thank you!

How does refinancing mortgage lower my expenses?

Where can I find the best mortgage rate for refinancing? I am not sure whether to refinance with debt consolidation, cash out or a home equity loan or line of credit.

is it possible to refinance a heloc without refinancing your first mortgage? I have a good rate with my first mortage at 4.25 fixed for 15 years. I also have a heloc that is adjustible and is at about 8.5 percent right. I would like to refinance the heloc without loosing the rates on the 1st. Is there such a thing?

What important points should I consider when refinancing my home mortgage? I'm looking for important tips as I'm about to refinance. I would like to know what should I pay attention to when choosing a financial institution.

Mortgage Refinancing Process? I have 2 missed payments and now I am receiving phone calls and letters from banker saying they will foreclose if not paid in full within days. I have not received a certified letter yet, so I am not in foreclosure. I started talking to a broker to refinance my mortgage. Can my current mortgage lender foreclose if I am at the early stages of a refi? So when exactly during the refinance process can my current mortgage lender no longer foreclose on me? During escrow? Once I signed the application? During underwriting? Another question, who notifies my current lender that I am in the process of refinancing so that they dont foreclose my house? Should I called them?

What should I think of when choosing a mortgage for a refinancing of my home?

In a divorce can I take my wife off my mortgage with out refinancing? The curent morgage rates are at least 1.5% higher than my curent rate of 6.25%.

What to do if I am refinancing and my mortgage company goes out of business in process of my loan? They took my application/appraisal fee on my credit card and then 2 days later said they are closing up. They didn't do the appraisal yet.

Can someone explain the difference between using a mortgage broker, mortgage lender, & a bank for refinancing? What are the benefits and drawbacks to each? We are refinancing our home.

Can you refinance a first mortgage without refinancing your second mortgage?