There are many reasons to refinance your home mortgage loan. Refinancing allows you to have lower monthly Mortgage Payments. This can be done by refinancing into a new, lower-rate home mortgage loan, a fixed ARM combination, or an adjustable rate mortgage. You can obtain fixed monthly payments by refinancing your loan into a new fixed rate loan. You have the option to consolidate debts from your home's equity by refinancing your mortgage loan. There are several mortgage calculators available to help you make the right decisions.
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CARTERET MORTGAGE CORPORATION - Oakland, CA
Senior Loan Officer
Julius,
Yes, sometimes refinancing does help, even if you're nearing foreclosure. The reason I say this is because sometimes people get behind because of a temporary situation. Say for instance, a loss of job, temporary unemployment or illness. Of course you pay a higher interest rate, but at least you don't loose your home to foreclosure. Refinance later with a better rate.
Jul 27, 2007 05:58 PM
CARTERET MORTGAGE CORPORATION - Oakland, CA
Senior Loan Officer
Michael, I guess you didn't take the time to look at the mortgage calculators.
Jul 27, 2007 06:00 PM
Rainer
3,648
3,648
Audrey James
Senior Loan Officer
Comments(2)