Ask 5 Questions Before You Refinance to a Shorter Mortgage » Mortgage Masters Group

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Send each person a letter outlining your mortgage loan benefits and rates, and include two business cards, one to keep and one to give away. 2. Make the list in Step 1 the start of your client database. Keep all names and addresses on file to send out reminder postcards and mailings.

Refinancing can get you a competitive interest rate on your current mortgage or free up some extra cash, and while it can sometimes be more difficult for borrowers with bad credit, it is still a very.

Below are some insights on the top five ways to find a mortgage lender. These aren’t ranked in particular order, however the federal agency that regulates the mortgage industry – called the Consumer Financial Protection Bureau (CFBP) – regularly surveys consumers on how they shop for mortgages, and these methods are the most popular among mortgage consumers.

If you are age 55 or older and plan to retire in a decade or so, you need to evaluate your retirement funds and your desire to pay off your mortgage before signing that refinance application.. financial planners have mixed feelings about whether homeowners should retire their mortgages before retirement.

However, it will take 23 months before you break even. How long do you plan to keep the mortgage? You can easily lose money on a refinance. Mortgage refinancing can reduce your monthly payments, but it typically takes 3 to 5 years to cover the closing costs of the new mortgage. Sell too soon and you could be in the red, as far as your refinance goes.

Bankruptcy makes it hard to refinance your home loan, but if you’ve been discharged from bankruptcy you have options. While you’re still declared bankrupt it’s almost impossible to refinance your.

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At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our.