Refinance Mortgage Loan – Tips on Refinancing Your Home Mortgage

Written by Carrie Reeder


Refinancing your home mortgage can come with some great perks. If you do it with no money out of pocket, you can skip one to three mortgage payments. You can save money on your payment or pay off your entire mortgage faster when you have better terms. Here are a few things to pay attention to when you refinance your mortgage loan, to make sure that you don’t overlook anything that you might regret, or that can cause you problems later:

1. Apply for a pre-approval to many different lenders to make sure you are gettingrepparttar lowest rate possible. When you do this, make sure that withrepparttar 135095 initial pre-approval application,repparttar 135096 lender is not pulling your credit history. You will want to reserve your credit pull forrepparttar 135097 lender that you are most likely to work with. You can decide that after you have gone throughrepparttar 135098 preliminary pre-approval process with a few lenders. Each time your credit is pulled, it docks your credit score just a little. If you have too many inquiries, it could keep you from refinancing your mortgage loan withrepparttar 135099 lowest rate possible. When you pre-apply for home mortgage loans online, most lenders or mortgage service companies will not initially pull your credit. Check for information about this on their website. They will usually tell you whether or not they are going to pull your credit. Also, if onrepparttar 135100 application you do not give them your social security number, they cannot pull your credit. If, onrepparttar 135101 application, they ask you to describe your credit, they are probably not pulling your credit.

2. Make sure that your original mortgage does not have a pre-payment penalty or early payoff penalty of any kind. Sometimes people will get into their mortgage withrepparttar 135102 mortgage having a pre-payment penalty and they will not even know about it. Pre-payment penalties usually range from 6 months to 3 years with a penalty for an early payoff. The penalty is usually aboutrepparttar 135103 amount of 6 months worth of your mortgage loan interest, but this varies. You would have to be able to have some significant payment and interest savings on your refinance loan to justify refinancing a mortgage loan with a pre-payment penalty.

Repairing Your Credit is as Easy as 1-2-3

Written by Don Blackhurst


1. Review Your Credit Report For Errors.

After you have received a copy of your credit report, you need to look through it very closely. If you do not yet have a copy, TrimYourDebt.com has negotiated with one ofrepparttar credit bureaus to offer consumers a free look at their credit report and credit score. It is a 30-day free trial offer, so you getrepparttar 135094 information right up-front and you can cancel free of charge within 30-days. To check your credit report for free, visit http://www.TrimYourDebt.com/GetYourCreditScore.aspx?src=art to find out now.

It is important to first review allrepparttar 135095 personal identifying information in your credit report such as name, address, social security number, birth date, and so on.

You should then evaluate each account that is reported about you torepparttar 135096 credit bureau. Determine whether any of this information is in any way inaccurate, incorrect, erroneous, misleading, or outdated. If you find that any ofrepparttar 135097 information in incorrect, then you should move on torepparttar 135098 next step.

2. Disputerepparttar 135099 errors withrepparttar 135100 credit bureaus and your creditors.

You should dispute inaccurate information with bothrepparttar 135101 consumer credit reporting agency andrepparttar 135102 furnisher (creditor). Disputing with both allows you to cover all of your bases to ensure thatrepparttar 135103 corrections are consistently made by both sources. You should follow up with these companies to ensure thatrepparttar 135104 inaccurate or incomplete information is removed in a timely manner. You should then continue to monitor your credit information on a regular basis by ordering and reviewing your consumer credit reports fromrepparttar 135105 major credit reporting agencies on a regular basis.

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