No-Cost Student Loan Consolidation

Written by Vanessa McHooley


No-Cost Student Loan Consolidation A no-cost student loan consolidation – doesn’t that just sound too good to be true? Think about it. You have just accrued thousands of dollars in debt through student loans after 4 years of college, or possibly even more. Then, a company offers to take all of your loans off of your hands, put them into one central loan, and do it all for free! Well, while it might not be too good to be true, it all depends around your particular situation, which could make this a “free” process, or could still work out torepparttar benefit ofrepparttar 111849 consolidation company that you are working with throughoutrepparttar 111850 process.

How A Student Loan Consolidation Works Here is howrepparttar 111851 student loan consolidation works. You have used up thousands of dollars in student loans to pay your way through college, obtain housing throughout college, and pay for other odds-and-ends while attending college. A student loan consolidation then takes all these different loans, pays for each of them, at which time you then payrepparttar 111852 student loan consolidation company forrepparttar 111853 total amount of loans taken out during college.

Example of Student Loan Consolidation If you were to have outstanding loans of $5000 to one company, $6000 to another, and $9000 to a third,repparttar 111854 student loan consolidation allows you to owe $20000 to one company, rather than to three. This can save you money inrepparttar 111855 long run, as these companies also may be able to offer you a competitive interest rate, which means you will be paying less overall for your student loans in a shorter amount of time and to only one company.

The Winter Report

Written by Gregg Winter


We're all aware ofrepparttar "time value of money". Well we should also comparerepparttar 111848 strategic value of a simple action taken atrepparttar 111849 right time, vs.repparttar 111850 value ofrepparttar 111851 same action taken too late inrepparttar 111852 game. The difference can (and usually does) amount to an easy task that has now been transformed into a pressure-cooker, error-prone, last minute nightmare. Whenever possible, userepparttar 111853 fallow time (between accepting a lender's offer and receivingrepparttar 111854 commitment) to your best advantage, clearing as many obstacles out ofrepparttar 111855 way as possible.

Anticipaterepparttar 111856 Obvious:

While no one can ever anticipate every possible contingency or problem that might arise duringrepparttar 111857 financing process, it's fairly simple to anticipate a number of routine occurrences and requirements, and to sweep as many of them outrepparttar 111858 way as early inrepparttar 111859 process as possible. Clearly, once you have accepted an offer from a lender and you're waiting forrepparttar 111860 commitment to be issued, it's usually a good idea to pullrepparttar 111861 trigger and orderrepparttar 111862 title searches. Most real estate attorneys can orderrepparttar 111863 title work from a company that they regularly use which is willing to assumerepparttar 111864 risk that ifrepparttar 111865 deal does not close, there will be no fees forrepparttar 111866 searches.

Since title work is still one ofrepparttar 111867 more primitive and time-consuming parts ofrepparttar 111868 process,repparttar 111869 earlier you start,repparttar 111870 better. That way there will be plenty of time to deal with delays and to resolve pesky violations or other issues that may arise beforerepparttar 111871 stress-laden pre-closing days arrive.

With regard torepparttar 111872 survey, atrepparttar 111873 very least, make sure you're aware ofrepparttar 111874 new lender's requirements. For example, if your new lender will require an ALTA survey, andrepparttar 111875 old survey was not prepared to those specifications, order it once you've accepted an offer rather than waiting forrepparttar 111876 commitment asrepparttar 111877 survey could easily take 4 - 6 weeks. Many surveyors are currently quite busy and not famous for quick turnaround, so by all means don't leave this untilrepparttar 111878 end.

Assignment of old mortgage - 1) God-given right, or 2) professional courtesy typically extended?:

"What do you mean, I'll have to pay $154,000 in mortgage tax?!!!!"

No one wants to pay any more mortgage recording tax than absolutely necessary. Remember that ifrepparttar 111879 property is in New York City,repparttar 111880 borrower will have to pay mortgage recording tax for loans above $500,000 of $27,500 per million. Clearly you will want to minimize this tax by having your new lender take an assignment ofrepparttar 111881 old mortgage. Let your new lender's attorneys review, comment upon and approverepparttar 111882 old mortgage and note early, rather than late, inrepparttar 111883 process. This is one more simple step that you and your attorney can take to minimize stress inrepparttar 111884 days leading up to your closing.

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