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5 Mistakes You Must Not Make When Refinancing
I have a small apartment building in Baltimore Maryland that I have owned since March 2006.  Because it is a 5 unit building, it falls under that dreaded categorization of a commercial loan.  Rates are higher.  Down payments are higher.  The headaches are greater.  I have had the same loan since 2006 and it was fixed for the first 10 years.  Now it is an adjustable rate mortgage - and with the low interest rates we are all currently enjoying - I am loving the mortgage payment.  However, I am rather like an elephant.  I remember the 10% interest rates when I bought my first home in 1986 so I know that a great adjustable rate can turn into a nightmare in a heart beat.  So.... I have started collecting information about refinancing my mortgage.  I want to convert my wonderful low mortgage, which adjusts semi annually to a fixed rate mortgage - even if it is fixed at a higher rate - so that I don't have any unpleasant surprises.
If you’re someone who isn’t happy with their current mortgage—whether it’s because you heard of someone having a better rate, you realized the payments are too large or you want ... more

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