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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 Tue. November / 30 / 2021
New mortgage refinance programs from Fannie Mae and Freddie Mac are expanding to reach more homeowners - CNBC
New mortgage refinance programs from Fannie Mae and Freddie Mac are expanding to reach more homeowners CNBC
Current mortgage and refinance rates for November 30th, 2021 – Majority of rates rise - Bankrate.com
House hacking: Live for free in a house you own (Podcast) The Mortgage Reports
Today's Mortgage Rates Drop Below 3.6% | November 30, 2021 Crossroads Today
Here's Why VA Loans Could Get More Expensive Motley Fool
Learn More About Mortgage Refinancing Credible News
How to refinance your mortgage, a step-by-step guide The Seattle Times
Today's mortgage refinance rates hold at historic lows for 3 out of 4 terms | August 23, 2021 - Fox Business
Today's mortgage refinance rates hold at historic lows for 3 out of 4 terms | August 23, 2021 Fox Business
15 of the best mortgage refinance companies for 2021 Fox Business
Is now the right time to refinance your mortgage? The Washington Post
Survey finds 74% of homeowners haven't refinanced despite low mortgage rates - Pittsburgh Post-Gazette
Survey finds 74% of homeowners haven't refinanced despite low mortgage rates Pittsburgh Post-Gazette
What Is a Mortgage Refinance? Motley Fool
Fannie Mae’s refinance program for lower-income homeowners starts next week. Here’s what to know - CNBC
Fannie Mae’s refinance program for lower-income homeowners starts next week. Here’s what to know CNBC
How Long Does It Take To Refinance A House? Zing! Blog by Quicken Loans
Best mortgage refinance lenders in 2021 Bankrate.com
Lenders don’t want to refinance my $53,000 home loan. What can I do to save money on my mortgage? - Fox Business
Lenders don’t want to refinance my $53,000 home loan. What can I do to save money on my mortgage? Fox Business
Tap the Value of Your Home | Mortgage Refinancing ConsumerReports.org
7 Best Mortgage Refinance Companies of October 2021 KXLY Spokane
After Losing Her Home in a Fire, This Teacher Needed a Fresh Start. A Mortgage Refinance Helped Her Do It - NextAdvisor
After Losing Her Home in a Fire, This Teacher Needed a Fresh Start. A Mortgage Refinance Helped Her Do It NextAdvisor
What are the hidden costs of refinancing a mortgage? Fox Business
Refinance Terms & Rates | Refinance | Chase.com Chase News & Stories
Should You Refinance Your Mortgage to Pay Off Debt? Credible News
Mortgage refinance rates continue hitting record lows – here’s how to get the best deal now - Fox Business
Mortgage refinance rates continue hitting record lows – here’s how to get the best deal now Fox Business
How to refinance a mortgage after forbearance ends Fox Business
5 ways to identify mortgage refinancing scams Fox Business
Is it worth refinancing to save $100 a month? The Mortgage Reports
A record 19.4 million homeowners can now save big on a mortgage refinance, as rates hit another new low - CNBC
A record 19.4 million homeowners can now save big on a mortgage refinance, as rates hit another new low CNBC
Refinancing for home improvements: how does it work? Fox Business
Should I refinance my adjustable-rate mortgage now? Fox Business
Everything You Should Know About The New Mortgage Refinancing Fee That Goes Into Effect Dec. 1 - Forbes
Everything You Should Know About The New Mortgage Refinancing Fee That Goes Into Effect Dec. 1 Forbes
What is mortgage refinancing and how does it work? Bankrate.com
Thinking of refinancing your mortgage? Do your homework before you jump in. - The Philadelphia Inquirer
Thinking of refinancing your mortgage? Do your homework before you jump in. The Philadelphia Inquirer
9 Ways to lower your monthly mortgage payment | 2021 The Mortgage Reports
How To Refinance A Second Mortgage Zing! Blog by Quicken Loans
Refinancing for a Home Renovation | Mortgage | Chase Chase News & Stories
Which Type Of Mortgage Refinance Is Best? Zing! Blog by Quicken Loans
Ally Home launches RefiNow™ to provide greater access to mortgage refinance options for homeowners - PRNewswire
Ally Home launches RefiNow™ to provide greater access to mortgage refinance options for homeowners PRNewswire
10 Tips for Getting the Best Mortgage Refinance Rates Business Insider
Should I Refinance To A 15-Year Mortgage? Zing! Blog by Quicken Loans
How to get a low-cost mortgage refinance Bankrate.com
Mortgage refinance: Everything you need to know Fox Business
Refinancing a jumbo loan: What to know Fox Business
Refinancing your mortgage? Don’t make this mistake Fox Business
VA Refinance: 3 Ways to Refinance a VA Loan Credible News
How do I get the most out of my mortgage refinance? Fox Business
The Formula I Used to Decide on Refinancing My Mortgage Business Insider
The Best Mortgage Refinance Lenders of November 2021 Business Insider
How to Refinance Your Home | Home Lending | Chase.com Chase News & Stories