What the Bank Won’t Tell You About Mortgage Refinancing

Written by Paul Ashter

Continued from page 1

Along with understanding your own financial situation, understandrepparttar terms being offered byrepparttar 148868 bank. The bank does not want you to “readrepparttar 148869 fine print” because you might find something that you don’t like, and they would have to change it, or get a new customer. All aspects ofrepparttar 148870 new loan have to be made available to you. Again, allrepparttar 148871 information about your loan is made available. You, asrepparttar 148872 customer, just have to seek it. Most customers simply look overrepparttar 148873 terms of a new loan briefly, merely focusing onrepparttar 148874 interest rate. They then sign onrepparttar 148875 dotted line. Simply “skimming”repparttar 148876 terms of a loan is never a good idea. Banks won’t tell you, but it is always a good idea to understandrepparttar 148877 loan more intricately than evenrepparttar 148878 bank itself.

Refinancing a mortgage is a large financial commitment. It is important to be as informed as possible on all aspects of your own finances andrepparttar 148879 deal offered inrepparttar 148880 loan. Banks do not what you to know that they are required to provide allrepparttar 148881 information to you. Also, as your financial advisor, they are obligated to offer information, but not required. However, when asked directly, if they lie to you, they can be in a whole world of trouble. Knowledge isrepparttar 148882 single most important thing to have when refinancing. If you know what to watch out for when refinancing, and what banks have to tell you, then you will haverepparttar 148883 upper hand. Havingrepparttar 148884 upper hand will allow you to refinance your mortgage in a way that is best for you financially.

Paul Ashter writes about personal finance, and specializes in information concerning mortgage refinancing.

Get Wealthy With the Rule of 72

Written by Vincent R. Moloney MD

Continued from page 1

You think to yourself "I wish I could have twice as much". You may have figured out where this is going. Just START 7 YEARS EARLIER. Now atrepparttar end of 35 years you have $414,000, just for starting sooner. And if you start another 7 years earlier, imagine, $846,000. You accumulate $214,000 duringrepparttar 148867 fifth 7-year period and $432,000 duringrepparttar 148868 sixth 7-year period. Sixteen times and thirty-two timesrepparttar 148869 amount inrepparttar 148870 first 7-year period. All forrepparttar 148871 same 110 dollars a month!

Yes, I know. This would require beginning saving at age 23, a very difficult thing to do. I also realize that those people with marginal incomes just don't have money to save and also that younger people usual have lower earnings power and incomes. I'm trying to makerepparttar 148872 point that to whatever extent you can follow this start-early concept it will pay off handsomely byrepparttar 148873 time you reach retirement.

Albert Einstein wrote that he believedrepparttar 148874 most marvelous thing inrepparttar 148875 universe was compound interest. You can put it to work and double or triple your retirement savings. Save as much as you can, save regularly but most of all start as EARLY as possible.

Dr. Moloney retired from Family Practice several years ago but has retained his lifelong interest in music and teaching. He has written a book explaining and simplifying music. http:/www.musicsimplified.com/

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