Seek Recommendations When Re-Financing
Homeowners who are re-financing their home for the first time may
need a great deal of instruction to support them during the process.
While homeowner can certainly research the process of re-financing
by themselves, this can be a cumbersome task which is difficult, if
not impossible. While it might be possible for a homeowner to
educate himself enough to make informed decisions, it is
unreasonable to expect a homeowner to be up to date on the most
current information in the re-financing industry. It would also not
be reasonable for homeowners to learn enough to make a definite
decision regarding re-financing. The homeowner may still require
some direction regarding which options are best suited for the needs
of the homeowner.
Fortunately there are two easy steps homeowners can take to tips the
odds of obtaining the most favorable re-financing in their favor.
These simple steps include consulting with friends and family
members who have recently financed and turning to industry experts
for assistance.
Consult Friends and Family when Re-Financing
Believe it or not consulting with family and friends is one of the
first steps a homeowner should take in the refinancing process.
Those reading this article might be fairly confused by this
suggestion because in the previous section we stressed how it would
be virtually impossible for a homeowner to thoroughly educate
themselves on the re-financing process. Surely, we are not implying
every homeowner has a friend or family member who is capable of
given detailed financial advice in regard to re-financing. However,
friends and family members can be helpful in a different capacity.
Friends and family members who newly re-financed their own home
possibly did a great deal of research and legwork before making
their decision. They also likely formed useful opinions, either
negative or positive, about the lender they used in the process. It
is this information which can be very useful to homeowners who are
considering their own re-financing. Homeowners can obtain
information such as which lenders are currently offering the best
rates as well as which lenders are easy to work with and responsive
to the needs of the homeowners as well as which lenders do not take
a vested interest in helping the homeowner to succeed.
Ask Experts for Advice when Re-Financing
One piece of advice which cannot be neglected when re-financing a
home, is asking an expert in the re-financing industry for
recommendations. These experts may have costly consulting fees
associated with their assistance but most homeowners would agree
these fees are certainly worthwhile especially if the result in a
significant cost savings for the homeowner.
We previously stressed how the issues associated with re-financing
can be quite intricate and difficult for those outside of the
industry to fully understand, however, those in the industry spend
their days devoted to learning more about re-financing, keeping up
to date with changes in the industry as well as new developments and
figuring out how to best serve the customers. All of these
characteristics make it clear that homeowners should really consider
employing the services of a financial planner with a great deal of
experience in re-financing when they are making decisions regarding
the best re-financing option for their situation.
Again, friends and family members who had earlier consulted with an
industry professional can supply honest opinions about those they
met. This can save the homeowner a great deal of time by eliminating
potential candidates who friends and family members thought
performed poorly.
ABOUT THE AUTHOR
Bob Schwartz, is a Certified Residential
Specialist, CA licensed real estate broker with
www.Brokerforyou.com. Bob
has over 27 years of residential real estate experience, authored a
number of published articles and served as an expert witness for
San Diego lawyers. You can contact
Bob via e-mail at bob@brokerforyou.com or visit his highly popular
San Diego real estate website at:
http://www.brokerforyou.com
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