18 Reasons to Refinance Your Mortgage

There are many reasons to refinance your mortgage, some obvious and some a bit more obscure and/or different. I figured I’d compile a list of the many reasons I can think of to refinance. Some of the situations are complete opposites of one another and will depend on your unique financial goals and/or risk appetite. [&hellip

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Why You May Want to Switch Mortgage Companies

Loyalty? Not in the mortgage business. That is, if you actually want to save money on your home loan. A few years back, an HSBC survey revealed that 52% of U.S. homeowners “switched providers” (sorry, they’re British) when obtaining subsequent mortgages. This was mainly driven (53%) by the desire to get a better deal, aka [&hellip

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Do Mortgage Payments Increase?

Mortgage Q&A: “Do mortgage payments increase?” While this sounds like a no-brainer question, it’s actually a little more complicated than it appears. You see, there a number of different reasons why a mortgage payment can increase, aside from the obvious interest rate change. But let’s start with the obvious and go from there. And yes, [&hellip

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Renting vs. Buying a Home: 55 Pros and Cons

It’s time for yet another mortgage match-up, so without further ado, here’s a biggie: “Renting vs. buying a home.” Or a townhouse for that matter… This is certainly an intimidating question, and one that’s difficult to sum up in one post, but I’ll do my best to cover as many pros and cons for each [&hellip

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Why Do Mortgage Companies Want You to Refinance So Badly?

If you already have a mortgage, there’s a good chance you receive junk mail on a regular basis urging you to refinance. You may receive solicitations from both your current bank/loan servicer and from a competing lender or mortgage broker looking to acquire your business. But why do they want you to refinance your mortgage [&hellip

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When Will the Next Housing Market Crash Take Place?

I’ve noticed a trend lately. Everyone’s a real estate expert. It seems the most recent crisis and recovery has turned just about every single person into a guru on all things to do with home buying and selling. I suppose part of it has to do with the fact that the massive housing bubble that [&hellip

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10 Reasons Why You Can’t Refinance Your Mortgage

With mortgage rates so low, just about everyone and their mother has at least inquired about refinancing their mortgage lately, whether it’s to obtain a lower interest rate and/or tap into their newfound equity. There are actually many reasons to refinance a mortgage, some you may have never considered, so it’s important to ensure you’re [&hellip

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Why Does Everyone Want Us to Pay Down Our Mortgages?

You may have come across one of those articles lately that talks about how a couple paid off their mortgage in five years. Or some other absurdly-fast timeline. While it also sounds super enticing and perhaps inspiring, it’s often just a feel-good story that may not actually make a lot of sense financially. At least [&hellip

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Do Mortgage Brokers Offer Better Rates Than the Competition?

In your endless search to find the lowest mortgage rates on the planet, you may be wondering which route will lead to the biggest savings. Should you go to your local bank, try your luck with an online mortgage lender, visit a credit union, or consult with an independent mortgage broker/banker? You’ve Got a Lot [&hellip

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Mortgage Impounds vs. Paying Taxes and Insurance Yourself

If you’ve been researching mortgages, or are in the process of taking out a home loan, you’ve probably come across the term “impounds” or “escrows.” When you hear these seemingly scary words, the loan officer or mortgage broker is referring to an impound account, also known as an escrow account. You may even be told [&hellip

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