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What is the best company to refinance a home with in Las Vegas, Nevada?

Sep 03, 2008 by samsara | Posted in Renting & Real Estate

I'm asking for a relative who wants to lower the amount of his payments.

Before your relative jumps into a refinance, have them ask the current lender for a loan modification. Refinancing will cost thousands of dollars, so it is best to check with the current lender first.

Who is the best mortgage refinance company?

Aug 23, 2006 by get-r-done | Posted in Renting & Real Estate

We are looking to combine our first and second mortgage on our home. current first approx. $80,000 current second approx $60,000 house value @ $165,000 would also like to have a little cusion in the bank. With less than perfect credit who is our best choice of lender

here's the thing...

You're looking for a 90% Loan versus a value at 165k, right there you are going to be in a higher interest rate range. Remember interest rate = RISK... The higher the risk to the lender, the higher the interest rate is going to be. 2nd you state that you have "Less than perfect credit", that is another hit to the interest rate.

In cases like this, I most often find it beneficial to actually HELP people understand thier best path. Now, you've been paying on the two mortgages for several months I'm sure, being as you have a 2nd mortgage that is comparable in size to the first, so what's the rush???

You should find a professional who has been in the business for several years and can help direct you in the most financially beneficial direction. Personally, I would work with you on your credit for a month or two and get your scores up. Have you had any lates to the mortgage? If so, when? What other late payments have been made and when? What is your primary source of income? how long have you been on your job? Do you plan to move within the next few years? how old are you? do you have a retirement plan set up? when do you want to retire? I already know you don't have significant savings and that is a concern to you, how can we work together to tackle that issue? What type of lifestyle do you lead/what's important to you? do you have children? what are thier ages? Finally, what is the market like in your area? Are values increasing/decreasing/holding steady???

All these questions are a major concern to you at this point. The only reason I go through all this is so you can see that there is more to it than the simple "What's the best bank for a refinance for a person in my position?". The question should be, "Who knows what they are talking about and isn't just some kid sitting behind a telephone looking to make a quick commission?" Trust me, I used to be that kid until I found out that I wasn't going to be in this job for long if I didn't start liking what I was doing.

Find a reputable mortgage broker, one who wants to assist you financially, not just help himself financially. Stay away from large mortgage companies at this point.

How do you know the broker is reputable? Well, he'll ask you all those questions I just aked. If you want to talk further email me, I won't even ask for your business :)

David

What is the best way (or best company) to refinance my car?

Oct 22, 2007 by mirandarosen | Posted in Buying & Selling

I want to get some info on refi for my car. Any clues?

http://www.carbuyingtips.com/finance.htm

What is the best company to refinance my business property in Upstate New York?

Nov 10, 2007 by sandra s | Posted in Renting & Real Estate

Anyone know the best way/company to refinance house or car?

Oct 31, 2007 by mirandarosen | Posted in Personal Finance

My husband and I got ourselves into a VERY tight finacial situation and need to pay some things off. I need some extra cash, like yesterday. Any thoughts?

what is the best company to refinance my house with in cleveland ohio?

Jan 10, 2007 by Damon | Posted in Renting & Real Estate

The best company to refinance with is the local mortgage broker. He will get you the best rate possible with the credit scores you have.

What difference does it make about a mortgage company. As soon as you sign the loan docs and the loan close the person that got you the loan will sell your loan to a big investor.

The big investor will hire someone to service your loan for him.(That is collect the monthly payments for him) If the time come for this investor to earn additional money by selling your loan to another he will. You might or might not have the same person servicing your loan.

You might like Wells Fargo to do your loan, they, in your opinion might be the best, but mostly all they do is push paperwork after which the loan is sold to someone else.

You will never know who will buy your loan of if your loan is sold, no one will consult you about this transaction. All you will get is a piece of paper in the mail saying please pay your monthly mortgage to the following at the below address and perhaps some advertisement about refinance.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Which company is the best home mortgage lender to refinance with in california?

Aug 06, 2008 by spooky | Posted in Renting & Real Estate

I am interested in refinancing my current loan to a fixed rate 30-yr loan. I'd prefer to deal with a lender that is in california. any recommendations? i'd like to hear about your personal experience with the company recommended. thanks!

What is the best company to try to refinance a car with?

Mar 07, 2008 by blackenxthexsun | Posted in Buying & Selling

I dont have horrible credit, but it is sorta bad.

It all depends on your credit score. sometimes credit unions are a good deal, but if you reach a certain credit score (above 700) some private banks would give you a better deal, like bank of america, washington mutual, etc.

I am looking for the best mortgage company for a refinance. Two criteria, low interest rate and low fees.?

Jun 24, 2008 by * | Posted in Renting & Real Estate

Does anyone have any suggestion? Where to look, what to stay away from or tricks of the trade. Made a poor decision on our present mortgage and don't want to do a repeat. Am locked in on present note for 45 more days and then we want OUT. Looking for 15, 20, or possibly 30 year fixed. Am not interested in doing business with Coutrywide. Thanks for your help.

There is no best mortgage company to refinance your home with.

You should find a local mortgage broker by looking in the telephone book. They will offer you the best rates possible based on your credit report and your credit score.

You may be interested in the best rate or a no fee mortgage. You have to decide which is best for you based on your financial situation presently.

You can not address the past and what happen. You have to educate yourself and ask as many questions about your loan as you can think of.

You must ask the mortgage broker to explain each and every mortgage program you are qualified for. This includes the monthly payments, interest rate, any possible prepayment penalties and most important what this loan will cost you.

No one want to trick or cheat you, you have to then take this knowledge and make an intelligent decision that benefit you financially.

I take it you have an adjustable rate mortgage that was not properly explained to you.

Your fees and points should be explained to you on a Good Faith Estimate (GFE). Once you have allowed a mortgage broker to take a mortgage application and run a credit report they should be able to issue you a GFE. Don't get to excited about the first one, it might be a little off and the mortgage broker has a 3 day requirement to do this, so he might be just fulfilling the requirement.

Once you have your GFE now is the time to discuss what mortgage programs you are qualified for as well as discuss the points and fees you will be required to pay.

Keep a pleasant disposition, be open about what you want, make sure the mortgage broker understand your situation. Working with the mortgage broker will be a rewarding experience if you are both on the same page and know what each of you are looking for.

If there is something you don't understand, ask and get a full explanation before you move on to another subject.

Sometimes low points and fees and low interest rates are not spoken in the same sentence. You have to come to an agreement about this.

Make sure you understand the tax benefits of paying points and fees up front as oppose to a no fee no points mortgage.

Just remember no one work for free, not even you, so be prepared to pay for your loan. You have to decide if you want to pay up front or during the mortgage monthly payments.

A no fee no points loan normally mean the broke will increase the interest rate to compensate for the mortgage expense. Make sure you understand this.

Now about the mortgage business itself. The person you are getting your mortgage from will sell your mortgage the next day without fail, this is the nature of the business.

They sell this mortgage to the one that is looking for what is available for sale that day. One of the largest purchases of mortgage loans is Countrywide, so to say you do not want to do business with Countrywide might not be a choice you make.

Even if your mortgage is sold to Countrywide you might not know it as they might have someone called a service company that might service the mortgage for them, so you might not even know that countrywide has purchased your mortgage.

When signing the loan docs make sure these docs say the something you decided on a far as the interest rate, number of years the mortgage is for as well as other things you discussed about the mortgage you decided was best for you financially with the mortgage broker.

If the loan docs are not the same please don't sign them. You are the one that will pay the monthly mortgage so make sure they say exactly what you discussed when you decided on the program

It is too late to blame someone else after the loan docs are signed, so this is your time to make sure that you agree with the loan docs.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Will a mortgage company refinance a loan currently in forebearance?

Nov 21, 2007 by mochachreme | Posted in Renting & Real Estate

I've got a mortgage that is in a repayment status under a forebearance plan, but they want to modify the loan and put what I currently owe on the back of the loan. I want to know if another mortgage company will refinance me with the loan currently being behind (although payments have been made as agreed through the plan).

Thanks for your help!!!

Stressed in GA...

They will if your credit still qualifies. If you are in a repayment plan its most likely you have hurt your credit. It may not be high enough anymore.