Refinance Your Mortgage: 5 Really Good Reasons

Refinance Your Mortgage: 5 Really Good Reasons

There are times when it makes sense to refinance your mortgage. It’s important to have a clear financial objective in mind so that you’re more able to choose the most appropriate loan. Ultimately, the decision is up to you to decide when it’s best for you to refinance, based on your individual financial situation. Refinance from an Adjustable Rate Mortgage (ARM) to a Fixed-Rate It’s important to consider what mortgage rates are doing. Are mortgage rates rising or falling? If you have an adjustable rate mortgage (ARM), it may adjust to a rate that’s higher than a fixed-rate mortgage. Now might be a good time to consider refinancing to a fixed-rate loan. However, you must also consider the amount of time you plan on being in your home. If you’re only going to be in your home for a few more years, it may make sense not to refinance out of your ARM. If you’re going to be in your home longer than seven years, it might be a smart move to refinance to a fixed-rate mortgage. Refinance from a Fixed-Rate Mortgage to an ARM Again, you need to consider how long you plan on being in your home. Many people move within nine years so it may not make sense to pay a higher interest rate for a 30-year fixed-rate mortgage when you’re not going to be in the home that long. Doing so may be costing you money. Consider refinancing to an ARM instead – you’ll get a…

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Save Money, Cut Your Spending

Save Money, Cut Your Spending

“Where did my money go?” That’s a big question that comes up more often than we’d like. We spend money on many small things that seem inconsequential, but they do add up. To know where you need to trim your budget, it’s important to first know your own spending habits. For a two to four week period, carry a small notebook with you and keep track of every expense, no matter how small. Then evaluate your spending to see where you can make cuts. A great tool that takes the stress out of budgeting is Quizzle.com where you can get a full evaluation of your monthly spending. While you’re evaluating your spending, consider your biggest asset: your home. See if refinancing could help you cut your mortgage payment with our mortgage refinance calculators, then talk with a Home Loan Expert directly. Write down everything you spend. The waste in your daily spending will soon become apparent. Do you use an online budget planner like the one atQuizzle.com? Quizzle’s free, simple to sign up, and a great way to keep track of your spending. Pay off your credit card debt as quickly as possible. It’s much more difficult to get your finances in shape if you’re paying 18% interest rates on your credit cards. If you have to carry debt for a while, switch to a less expensive credit card. Take advantage of the introductory rate and use your monthly savings to prepay your debt as fast as possible. If you can’t pay in cash,…

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10 Ways You Can Avoid Bankruptcy

10 Ways You Can Avoid Bankruptcy

With unemployment at an all time high, and many families struggling through financial difficulties, it’s easy to view bankruptcy as a way out. But declaring bankruptcy may not only be damaging to your credit, it could also affect future purchases and opportunities. If you are considering filing for bankruptcy, here are ten ways to avoid bankruptcy.

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