Refinance Today? Is It Right For You?
Posted on | January 10, 2009 | 3 Comments
Most homeowners would agree that refinancing has come across their mind in the last three months. With rates dropping to as low as 4.5% in some markets, it is hard to NOT consider this financial decision. What you must understand before making this commitment of time and energy is that not everyone can get the mortgage interest rates advertised. Are you one of the Americans who cannot get these low rates?
Sadly, the answer to the previous question may be yes for many of you. Only elite borrowers who have homes in premier locations will get an appraisal value of anything close to what their home was worth three years ago. By premier locations, we are talking about areas where foreclosures and Real Estate Owned properties are few and far between. Unfortunately, your ability to gain a low mortgage rate has more to do with your neighbors inability to pay their mortgage then you think.
Overall, it is important that you look at your neighborhood objectively before you put in that application to your lender. Some of you have great homes in premier areas that will assist you in gaining access to these rates, but there are also a great amount that cannot. Do not get discouraged as you are not alone if you cannot get these extremely low mortgage rates.
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January 10th, 2009 @ 9:38 pm
[...] Random Feed wrote an interesting post today onHere’s a quick excerptMost homeowners would agree that refinancing has come across their mind in the last three months. With rates dropping to as low as 4.5% in some markets, it is hard to NOT consider this financial decision. What you must understand before making this commitment of time and energy is that not everyone can get the mortgage interest rates advertised. Are you one of the Americans who cannot get these low rates? Sadly, the answer to the previous question may be yes for many of you. Only elite bor [...]
January 14th, 2009 @ 3:36 pm
[...] Refinance Today? Is it Right For You? [...]
February 7th, 2009 @ 8:38 pm
[...] Refinance Today? Is It Right For You? [...]