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Home Mortgage Rate Shopping - Why Some Shoppers Give Up And Others Don't
About 29% of current homeowners and a much larger percent of consumers with income levels above $50,000 feel it best to stay as far away from offers to finance or refinancing their home as possible. And this seemly for good reason. Trying to get a great deal on a mortgage loan or shopping for low rate refinancing can be a pain in the neck and a complete and total hassle for most of us. What's worse, when we think we've found a great offer we're made to feel like a heel when we start asking questions about rates, points and fees. But of course their making us feel like a heel is all a part of the game, right?
The fact is many large transactions make it to the closing table under duress, an urgent need to relocate or the pressure to relieve oneself of heavy debt obligations. Aside from these factors most of us just aren't motivated to make changes on a financial basis even if means risking sustaining our present way of life.
Ignorance Is Bliss Until... Often the real reason behind not being motivated to make major home improvements or lower ones mortgage rates to something more reasonable may very well be the bliss of ignorance. That is to say the bliss of simply not knowing how. Not knowing how to finding the right loan. Not knowing how to find the right lender. Not knowing how to lower ones rates or how to eliminate all the unnecessary red tape. Not knowing how to tell a predatory lender from a lender who actually has your best interest reflected in his closing documents. Not knowing how to accelerate the loan process. It's no wonder we don't know how to approach these issues, most of the news articles and periodical we read don't address these needs and issues with enough depth to achieve the desired results.
The sad thing is when we finally decided to look into doing something about it all we get fed is a bunch of hot air from folks who can't wait to get their grimy hands on our money or worse hour home. So we sit and we wait until the pretence that we are protecting our assets runs thin. While we wait and do nothing we are confronted with the fact that while everyone else's home is appreciating ours may actually be depreciating not to mention the need to address all the mounting credit card debt and those bills that seem to be piling up daily. Yes ignorance is bliss until the roof caves in or the termites take a bite out of that untreated deck.
Knowing Is The Best Motivator We must admit at some point in time that protecting our assets can be better accomplished when we know exactly who and what we're protecting them from in the first place. And that would be our creditors, the termites and above all ignorance itself.
Getting to know our financial situation better as well as our options for improvement may actually help us protect and maintain what we value most - our way of life.
From Borrower To Investor According to The Mortgage Loan Search Network, an online informational resource at www.bcpl.net/~ibcnet the key to protecting our assets is allowing their value to reach it's full potential. That is to say, when our money and other assets increase in value and start to make money we are in a better position to maintain what we've worked so hard to acquire.
That said, when one must opt for a home equity loan or cash out refinance loan in order to make necessary improvements in the home or invest in a business or pay college tuition costs the borrower in fact becomes an investor. The money borrowed is being used to bring in a greater return. With that in mind a site called LowMortgageRates at www.lowmortgagerates.cc. lists a number of ways to borrow cash, reduce mortgage rates while lowering mortgage payments, increasing ones home value and creating an income stream to offset debt and eventually eliminate most if not all debt over a shorter period of time.
Getting To The Bargaining Table Still the questions looms, how do you find the right loan, the right lender, lower your mortgage rates, eliminate unnecessary red tape, avert predatory lending schemes and accelerate the loan process? According to one mortgage rate shopping site much of this can be handled in the following ways:
1. Work with your current lender. All your loan documents are already on file accelerating the loan process.
2. Get recommendations of good, reputable, credible lenders from respected trusted sources such as family members, friends and co-workers.
3. Ask recommended lender for references from satisfied customers.
4. Get several low mortgage rate quotes using online tools.
The low mortgage rates network at www.lowmortgagerates.cc presents foolproof methods of screening lenders and getting the rates you want quickly and painlessly. For example, the site suggests that when you're ready to step over to your current lenders bargaining table bring along low mortgage rate offers from other lenders such as those found online. This will motivate your current lender to meet or beat your best offer.
Ignorance is only bliss until the unforeseen overtakes us. After that we either kick ourselves for not knowing or we smile warmly and proudly for having taken the time to learn how to protect our valued assets and way of life.
Mark Askew is the founder of the LowMortgageRates Network, a mortgage and home refinancing information resource for low mortgage rate shoppers located on the web at http://www.lowmortgagerates.cc
MORE RESOURCES updated Sun. December / 10 / 2023
Mortgage Interest Rates Today, December 10, 2023 | Rates At Lowest Point Since Late July - Business Insider
Mortgage Interest Rates Today, December 10, 2023 | Rates At Lowest Point Since Late July Business Insider
Mortgage Interest Rates Today, December 9, 2023 | Latest Jobs Report Points to Lower Rates in 2024 - Business Insider
Mortgage Interest Rates Today, December 9, 2023 | Latest Jobs Report Points to Lower Rates in 2024 Business Insider
Mortgage Refinance Rates: Compare Current Rates Business Insider
VA Refinance Rates - Current VA Loan Refinance Rates Today Business Insider
Mortgage Rates Chart | Historical and Current Rate Trends The Mortgage Reports
Mortgage refinancing: What is it, and how does it work? CNN Underscored
Mortgage Interest Rates Today, December 6, 2023 | Rates Down Ahead of Next Week's Fed Meeting - Business Insider
Mortgage Interest Rates Today, December 6, 2023 | Rates Down Ahead of Next Week's Fed Meeting Business Insider
How much does it cost to refinance a mortgage? CNN Underscored
Mortgage refinance demand spikes as rates fall Greater Baton Rouge Business Report
Best Student Loan Refinance Companies of December 2023 Business Insider
Refinance Appraisal: How It Works And What To Expect Bankrate.com
How soon can you refinance a mortgage? CNN Underscored
Is Now a Good Time for a Mortgage Refinance? NerdWallet
US Mortgage Refinance Demand Surges 14% as Interest Rates Hit Lowest Point since August - Coinspeaker
Does refinancing a mortgage hurt your credit? Yahoo Finance
A strategy to buy a home and set up a future refinance Community Voice
Refinance mortgage applications hit two-month high Mortgage Professional
Mortgage Rate Forecast for 2024 USA TODAY
Today's FHA refinance rates Business Insider India
Can You Refinance a Car Loan? Kelley Blue Book
Mortgage rates are falling at fastest pace since the 2008 crash Business Insider
The Great Pandemic Mortgage Refinance Boom - Liberty Street Economics Liberty Street Economics -
Current national mortgage and refinance rates, November 27, 2023 | Majority of rates rise - Bankrate.com
Current national mortgage and refinance rates, November 27, 2023 | Majority of rates rise Bankrate.com
Mortgage refinance: What is it and how does it work? Yahoo Finance
15-Year Mortgage Refinance Rates: Compare Current Rates Business Insider
MBA: Mortgage Applications Increased in Weekly Survey Calculated Risk
Current VA refinance rates today Business Insider India
Will Mortgage Rates Go Down in 2024? What Homebuyers Should Expect Business Insider
How To Choose The Right Kind Of Refinance For You Bankrate.com
VA loan refinance: What is it and how does it work? Yahoo Finance
When Should You Refinance Your Mortgage? Bankrate.com
The best mortgage lenders for refinancing in December 2023 CNN Underscored
Mortgage Interest Rates Today, December 3, 2023 | Rates Remain Low After Dropping Last Week - Business Insider
Mortgage Interest Rates Today, December 3, 2023 | Rates Remain Low After Dropping Last Week Business Insider
What Credit Score Do I Need To Refinance? Bankrate.com
Best Mortgage Refinance Lenders In 2023 Bankrate.com
Compare today's mortgage and refinance rates, November 24, 2023 - Majority of rates increase - Bankrate.com
Compare today's mortgage and refinance rates, November 24, 2023 - Majority of rates increase Bankrate.com
Mortgage Interest Rates Today, December 1, 2023 | Rates Fall Further, Boosting Affordability - Business Insider
Mortgage Interest Rates Today, December 1, 2023 | Rates Fall Further, Boosting Affordability Business Insider
How Long Does It Take To Refinance A House? Zing! Blog by Quicken Loans
How Soon Can I Refinance My Mortgage? | Mortgages and Advice | U.S. News - U.S News & World Report Money
How Soon Can I Refinance My Mortgage? | Mortgages and Advice | U.S. News U.S News & World Report Money
Cash-out refinance: How does it work? CNN Underscored
Current Student Loan Interest Rates in December 2023 Business Insider
Should you refinance your home after divorce? Here's what happens to your mortgage after untying the knot - CNBC
Should you refinance your home after divorce? Here's what happens to your mortgage after untying the knot CNBC
2 Reasons Why a Free Mortgage Refinance Could Be Right for You The Motley Fool
CFPB Mortgage Report Finds Jumps in Closing Costs and Denials for Insufficient Income, Growing Proportion of Cash ... - Consumer Financial Protection Bureau
CFPB Mortgage Report Finds Jumps in Closing Costs and Denials for Insufficient Income, Growing Proportion of Cash ... Consumer Financial Protection Bureau
Mortgage Interest Rates Today, December 2, 2023 | Rates Are Down, and They Should Drop More in 2024 - Business Insider
Mortgage Interest Rates Today, December 2, 2023 | Rates Are Down, and They Should Drop More in 2024 Business Insider