Home » Finance

Is It A Good Time For You To Refinance?

Aug 3, 2008
If you're like a lot of people nowadays, you may not be sure if it's a good time to refinance. Here are five signs to look for that may indicate that refinancing is right for you.

You have an Adjustable Rate Mortgage - As many people have discovered, a low "teaser" rate is only asking for trouble later on. If you have an adjustable rate mortgage that is getting ready to be increase, refinancing to a fixed rate mortgage will probably give you a better financial picture in the short term as well as in the long term. Even if your mortgage payments don't go down initially, your mortgage payments will be stable over the life of the loan, and you will be able to budget your money more effectively.

You Have Equity in Your Home - If you are among the people who didn't buy into the real estate market when everything was overpriced, you're probably sitting on a little bit of equity right now. You have probably been watching what people have been going through on the news, and maybe even among your friends and family. You know how careful you have to be when pulling equity out of your home. If you are selective with how much money you take out of your equity and use it wisely, you can avoid having regrets down the road.

You Have a High Interest Rate on Your Current Fixed Rate Mortgage - Right now, mortgage interest rates are low. If your fixed rate mortgage is two percentage points or more higher than current interest rates, refinancing in order to get the lower interest rate can make a huge difference in your monthly mortgage payment.

You Make a Decision to Stop Being a Slave to Your Credit Cards - If you are like a lot of people who have gotten stuck in the credit card trap, now that the cards are all maxed out, you can see how it works. The easy money of a credit card has turned into the payments stretching out for years. The payments you're paying today are for things that you probably don't even remember, and sometimes don't even own anymore. By refinancing, you can pay off your credit card debt and finally be done with it.

Your Child is Going Off to College - After a lot of hard work and a successful high school career, all that stands between your child and a college education is the money. Even with scholarships and grants, most college students need additional money for living expenses and transportation. By refinancing and using that money to help your child with college expenses, you can allow your child to focus on his studies rather than trying to carry a full course load and hold down a job at the same time. If you have built up equity in your home over the years, refinancing in order to help pay for your child's college education can end up being one of the best investments you ever make.
About the Author
You may be considering getting a home refinance right now. Well it's not something you go into uninformed. There are mortgage brokers out there that will happily take you money with no benefit to you. Get informed here: http://www.refinancingright.com
Rating:
Please Rate:
(Average: Not rated)
Views: 114
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources