From everyone at RefiAdivsor.com, happy holiday wishes for you and your family. Just remember to pay your mortgage next month. It seems mortgage delinquencies spike after the Christmas holidays as many homeowners overdo their holiday indulgences and don’t have enough cash on hand come January to pay the bills. Here’s an article from MortgageLoan.com with a gentle reminder of the consequences that come from delinquent payments, especially if you’re considering mortgage refinancing in the New Year.
Have yourself a Merry Christmas and a wonderful holiday season – but don’t do it at the expense of your mortgage.
Another common trap to get caught up in is tapping your Home Equity Line of Credit pay for the holidays. Homeowners that abuse their home equity lines can quickly find themselves underwater and unable to take advantage of low refinance mortgage rates. If your goal for the New Year is to refinance your home mortgage with a lender like Amerisave, it’s important to pay all of your bills on time, not just your mortgage.
Remember the refinance rates you see lenders advertising are based on having a credit score of 820 or better. Having delinquent accounts on your credit can kill your credit scores and any chances of qualifying to the rates you’re looking for when mortgage refinancing.
You can learn more about qualifying for the lowest refinance mortgage rates without paying unnecessary fees by checking out my free Underground Mortgage Refinancing Videos.