County to delay refinancing loans The Birmingham News al.com (blog)
Shelby County has decided to hold off on refinancing $62.9 million in loans that were used to build a water treatment plant near the Coosa River.
The county took out loans through the Alabama Drinking Water Finance Authority in 2004, 2005 and 2007. Terms call for the loans to be repaid in 20 years.
Earlier this year, the county, looking to possibly free up some cash flow, invited financial firms to submit proposals on how the county might rework the loans.
County Finance Manger Butch Burbage said it will be better for the county to wait until 2014-15 to refinance. The 2005 loan has a call provision for 2015, according to Burbage, which means the county can refinance at the time without having to pay a penalty.
"It is not advantageous to the county to refinance until that date," Burbage said. "The other two issues (loans) do not have a call provision and can be refinanced at any time. We determined it would be best to wait until all are available to be called and refinanced at one time."
Guidelines to Refinance a Home Loan
With the current economic meltdown and the prolonged slump in the housing market, millions of consumers across the country are refinancing their mortgage each year. If you are also looking forward to refinance a home loan at a substantially lower interest rate, you must consider a few crucial factors first. Remember, if you have stellar [...]
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Getting the Best Refinance Mortgage Rates
For real information click HERE: best-refinance-home-mortgage-l oan-rates.com Getting the best refinance home mortgage loan rate, then, can be ...
Where is the best place to Refinance student loan?
I Would like to refinance my student loan and maybe consolidate it.
What are my best options and the best banks. By the way i have a personal loan .
Does anyone know?
Yes I do know a place, I just got a loan myself
What is the best way to refinance your car that you currently have financed through...?
a lender with a dealership. Is it a simple process to go to your local bank and have them refinance the loan or is it best to shop around online for better deals. Any experience or advice would be appreciated.
Credit Unions usually have the best deals. Depending on the credit union, usually just about anyone can join. I hear that Chase Bank is giving out really low rates if you have good credit.
Good luck!
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Mortgage refinance when is the best time ?
Refinancing mortgage is not an easy decision, when is the best time to refinance ?
Interest rates fluctuate together with economy. Depending on what they were at the time of closing the loan, you may have chosen an adjustable rate loan or a fixed rate loan. That means that you get the benefit of keeping low interest rates or modifying the rates to a lower value if you have an adjustable rate loan. If, on the other hand, they were to rise to abnormal values, there is a maximum or “cap” to limit the incidence of rates on the loan. Read more http://refimortgage-online.blogspot.com/
If you're looking to refinance just to refinance you'd be smart to invest most of it elsewhere. But go ahead take some money and go have fun. You've earned it.
I work for a title company and know that one of the biggest factors in refinancing is finding a good loan officer. I have seen many good and many bad ones. If you would like to be referred to a few that I would send my own family to, shoot me an email and I would be glad to share.
Stephanie
here are some suggestions
http://www.ehow.com/how_2002256_time-refinance-mortgage.h
Only refinance if you have an ARM and want to go to a fixed rate; or if you can qualify for a lower rate of 1-2 % points less than your current rate, and if you are going to remain in the house for at least the next 2-5 years. Figure out how much you will actually save per month by refinancing before you sign on the dotted line.
Don't fall for any advertised schemes that offer artificially low rates. Check the list of fees associated with the refinance loan.
Don't take equity out of your house to pay car or credit car debt. Most real estate markets are soft and may remain like this for several more years. If circumstances change and you need to sell quickly, you have the additional debt to repay. Only refinance for the remainder of the original loan. That is the smart way to go.
Where is the best place to refinance my car loan?
When I first got my car in March 2006 my interest rate was 17.9% I refinance in September 2006 with E-loan for a rate of 11.04% we recently bought a home and our finally establishing some credit. So I think it's time to refinance again. Does anyone recommend a great place to get a great rate?
Why not use E-loan again?
I've had good luck here...
http://auto.deal4-you.com
Have a nice day.
http://www.ratezip.com/auto.html
Where is the best place to refinance my auto loan?
When I first got my auto in March 2006 my interest rate was 17.9% I refinance in September 2006 with E-loan for a rate of 11.04% we recently bought a home and our finally establishing some credit. So I think its time to refinance again. Does anyone recommend a great place to get a great rate?
Thanks I really appreciate it!
Why not use E-loan again?
Realize that interest rates have risen during the past 2 years and with your mortgage, you may not be able to do better than 11%. Plus, your car has continued to depreciate and there may not be any equity remaining for a refinance. Just be happy with what you have and make timely payments until the balance is $0.
How can I find the best loan option in order to refinance our home?
We have put an addition onto our house through a personal loan from a family member and want to refinance in order to pay the loan off. I am interested in doing a no doc, or stated, type of loan.
Try Lending Tree on line. You can specify what you are looking for and then the brokers, banks and S & Ls will come to you.
Also, make sure when you are shopping, compare not only the GFE, or Godd Faith Estimates, but also the TIL, or Truth in Lending Disclosure. This way you can really compare apples-to-apples.
What is the best way to consolidate my debt? I have a mortgage and want to refinance,add my debt to new loan?
I have a $530,000 all-interest mortgage loan. I am interested in refinancing soon, (if it is a good time to do so?) Should I refinance and add my $15,000 of personal debt to my new loan? Or should I get a personal loan for $15,000 from my bank?
It might be hard refi-ing a jumbo loan these days.
Getting additional cash out might be impossible and a very bad idea to begin with.
personal loan= no bueno, looks bad on credit like BK
Rolling your debt into the mortgage is not a bad plan, IF, you are not going to run the debt up again.
If you can overcome those problems, then it's better to do it in a refi, or maybe a second. In both cases you would be able to claim the interest as tax deductible.
http://badcredits.awardspace.com/Loan-Consolidation.htm
Unlike bankruptcy, in which debts are cancelled and your credit rating collapses completely, debt consolidation loans are essentially a type of refinancing, where several-->old loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you’ll no longer have to deal with harassing phone calls and daily mail.
When is the best time to refinance a car loan?
I recently purchased a new car in November and the dealer told me that I can come back in year when my credit excels a bit to refinance with them. Is this true and do I have the option to refinance with another lender?
Yes, you can often refinance a car loan once you have been good with your payment history.
However, the dealership will not refinance you unless you are trading in for another vehicle.
To refinance you need to go to a bank or credit union. Credit unions are very good about refinance car loans if you qualify.
What is the best refinance plan to reduce my monthly mortgage payments?
I'm looking for the best plan as in:
- Not getting my face ripped off in closing cost
- Not increasing my current interest rate of 5.8 to something over 8%
- Not having to pay thousands in points
It seems I'm having the same dilemna as when I bought my house and rates were supposedly "low" 4 years ago. I know I can't win, but I simply can't afford my current mortgage payment of $1500+ a month on a house I mortgage $185K for.
How can I ensure I get the best rate on a home refinance?
We have stellar credit, but made the mistake of not gettng a fixed rate on our mortgage 5 years ago. What do we do to ensure that we get the best deal we can?
Thanks!
The easiest way in my opinion is to go to a few different brokers at least 3 or 4 and ask for a Good Faith Estimate. They'll take your info and determine what rate, etc they can give you. Then compare those and see who has the best deal. Don't hesitate to pit them against each other people do it all the time. If you like one person in particular but they have a lesser deal show them the other GFE and see if they can match it, sometimes they can, sometimes they can't but it's worth the shot. And finally, if you think somethings too good a deal (say 4.5% interest with no closing costs) it probably is. Finding a great broker is just as important as the rate because they will help you through the whole process and make sure you don't get hurt in the end. Good luck.
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