There are many reasons to start to refinance your existing finance now. Even if you have 6 to 12 months left on your tasty current fixed rate mortgage, there are some critical motivators in play right now:
1. Falling home prices may dramatically effect your home's value, decreasing your "loan to value" and making it more costly to refinance.
2. Lenders are tightening up their offerings, making it much more challenging to qualify for loans, even for people with perfect credit and good loan to values.
3. Market Saturation: This summer, the few banks that are left will be so overloaded with refinances and purchases, that they can use the pressures of supply and demand to actually Raise rates, even in light of the coming Fed rate cuts. You'll be caught in the maelstrom.
4. I'll save the rest of the reasons for the next newsletter or in a personal phone call with you to 415-485-1776. Sign up for my online newsletter at http://www.ptre.net/
Tuesday, January 08, 2008
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