With interest rates dropping, i was wondering how refinancing your home works. What exactly is refinancing, what are the benefits and what are the downfalls?
What is the minimum interest rate reduction that makes refinancing worth it?
Thanks for answering!
My boyfriend is changing careers and going into selling mortgages. What are some gifts I could get him for Christmas that would help him out or make the job simpler?
My property taxes went up just after my mortgage company made the annual tax payment to the county. They’ve since raised my monthly escrow payment by 1) the amount of the tax increase and 2) an additional 1/6 of the new escrow payment to cover the past 11 months of increased taxes as well as “future increases”. I know this is standard practice and legal, and I could see allowing it for a few months beyond paying for the past costs incurred, but how long can they take up again to charge me this additional amount? Seems like after several years, they would have banked potentially quite a bit at my expense.
Quicken Loans client Vicki from Missouri, discusses in this video testimonial how Quicken Loans helped her refinance her home. Vicki had called and talked with multiple mortgage companies to no avail. At random, one day, she selected up the phone and called Quicken Loans. In less than 20 minutes…
Mr Mortgage on Loan Mods, TARP & Home Sales