Archive for March, 2009
Thirty Percent of People Renew There Mortgage with No Questions Asked
Posted by Top Home Loans in General Banking, Mortgage Advice, Mortgage News, Mortgage Rates on March 31st, 2009
Renewing your mortgage is something that happens to everyone once every several years. In most cases, it becomes a responsibility that gets pushed to the side and gets forgotten about. For most people, this is not a major responsibility in their life. It is much easier to check a box beside a product and mail in the piece of paper, then it is to actually do a bit of work and find out what you are missing out on.
What you are Being Offered
When mortgage companies send you a renewal document, they are generally providing you the worst interest rates on the market in hopes that you do exactly what they want you to do, check a box and mail it in; however, by making one simple phone call to the bank, you can usually get a much lower interest rate then what is listed on the form that they send to you. You can usually get a rate that is up to one percent lower than what they have offered.
Some mortgage companies even go to extreme lengths by charging you a fee to renew your mortgage citing it as a renewal fee. Another pitfall is for people that do not renew their mortgage, the bank will potentially take the liberty to renew you into the same exact product that you already have on the renewal date. This is usually horrible because the rate is usually higher, and you now would have to pay a penalty to break your term to get a lower interest rate.
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Get the Best Rate for your Mortgage Renewal
The best way to ensure that you are getting the lowest possible interest rate on your mortgage renewal is by using the following steps:
- Mark your mortgage renewal date on your calender, even if it is 5, 10, or 25 years in the future, you should be aware of when it is. You can do this by marking it down on your online calender or by sending yourself an email.
- Within 4 months of your mortgage coming up for renewal, start checking and comparing rates between banks on a bi-weekly basis. Keep in the know when it comes with mortgage rates. Negotiate your rates early and often.
- Speak with a mortgage to see what they have to offer in comparison to what the bank is offering you.
- Don’t be afraid to switch your mortgage to another bank. Banks are in the business to make money, and if another bank is willing to give you a better deal, then take the better deal. At the end of the day, your pocket book is what matters.
- Schedule time to deal with the mortgage and to speak with a mortgage broker over the phone.
Mortgage Renewal Service
Now we offer a mortgage renewal service where a mortgage professional will contact you close to when your mortgage is renewing. They will provide you with the knowledge and tools for what you need to know and do to renew your mortgage and save the most amount of money. They will also assist you with any financial needs you may have at that time. For example if you are thinking of moving, renovating, investing, clearing up debts, education, or anything else, then they will provide you with the expert advice to assist your needs while saving you the most money. Please enter your details below to get started.
Don’t Sign Away Thousands
Instead of letting stress get the better of you next time you receive a mortgage renewal paper. Instead throw it in the trash and speak with a mortgage professional before proceeding with any renewal. Better yet, sign up and have a professional contact you when your mortgage is coming up for renewal.
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March 31, 2009: Wall Street Recap and Financial Updates
Posted by Top Home Loans in Economy, General Business, Investing, Mortgage Rates on March 31st, 2009
March has been the best month in the stock market since 2002. The market as a whole has rallied quickly and strongly. The Federal Reserve and the Obama administration have made a series of successive moves that have brought institutional investors back to the table with financial companies. The next step in helping the financial companies recover is to temporarily suspend the mark to market ruling. With this ruling being suspended, financial companies will be expected to report better than expected earnings throughout April. This in turn will help the broader market rally throughout April; however, there is a potential downside.
As GM and Chrysler struggle to find a way to fix the damaged companies, they appear to dish out more and more negative news. Finding a fix for these two desperate companies will not come overnight; however, they have two months to find a fix to the failing industries.
With the broader market looking pretty healthy over the next few years and rates at all time lows, I am going house shopping.
GM and Chrysler’s Days are Numbered; Could be Facing Bankruptcy Soon
Posted by Top Home Loans in Economy, General Business, Investing on March 30th, 2009
Today, President Obama had came to a point with the auto industry of no return. He has requested the CEO of GM to step down from his position. The FED had also elected a CEO to take over the company. Obama has given the company a maximum of 60 days for these companies to generate feasible company strategies that will allow for the companies to be on the road to being prosperous once again.
Many potential car consumers fear that purchasing an American built vehicle could have consequences in the future. For example, if the company goes into bankruptcy, then they may not be able to get the auto parts they need in order to make the repairs, or the warranty could become voided.
The auto workers now are starting to understand that they need to make changes to their pay or they could end up unemployed like many of the people that had faced a pink slip. The workers have not fully committed to changes yet; however, they understand the severity and understand that they must make changes to survive.
GM and Chrysler need to make changes to survive, but with only 60 days left, can they make it?