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Four Tips to Lower Your Mortgage Payment When Refinancing

If you’re considering refinancing your mortgage there are a number of reasons for taking out a new home loan. Some people choose to refinance because of a financial hardship, others want to borrow cash against the equity in their homes; however, the most common reason is to get a lower monthly payment. Here are several […]

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Should You Refinance Your Option Adjustable Rate Mortgage?

If you purchased your home with an option adjustable rate mortgage because you needed the lowest payment possible you should be very concerned about all the trouble brewing in the mortgage industry. When your option ARM begins resetting coupled with the declining values of homes across the country it could become extremely difficult for you […]

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Interest Only Refinance

If you are considering refinancing your mortgage with an interest only mortgage there are several things you need to know to minimize your risk and avoid paying too much. When used correctly interest only mortgages can give you a lower monthly payment; however, with any Adjustable Rate Mortgage there is always the risk of payment […]

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How to Avoid Adjustable Rate Mortgage Payment Shock

If you’re concerned about your mortgage payment amount when the lender resets your Adjustable Rate Mortgage, there are several ways to protect yourself from payment shock. What is payment shock? Imagine waking up one day to a statement from your mortgage lender showing that your payment amount has gone up $650 and you can no […]

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Refinancing With an Option Adjustable Rate Mortgage Loan

Option ARMS are mortgage loans with the flexibility of choosing how your payments are structured. This “twist” combines the lower introductory interest rate with the ability to pick your payment amount. These loans feature a minimum payment amount that could be as low as one percent, an interest only payment, a payment based on thirty […]

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