Financial Fitness

Of course, one of the best ways to save money is often to refinance your mortgage.

But some folks make serious, costly mistakes when they refinance that can negate the benefit to their bottom line!

Here are a few that I see all the time: 

• Comparing apples to oranges.  Many people simply don't understand the differences between the loans they are comparing.  It's hard to tell which one is the better deal when they aren't both the same type of loan. If you call me I can go over the options with you so you can understand all the jargon and compare the right loans.
• Adding years to their payments without realizing it.  If you refinance, pay attention to the length of the new loan and make sure that you're not adding more time to your loan than you'd like. 
• Taking the first offer they find.  I'm amazed at how many people still just walk into their bank and ask for a loan!  Listen, almost 100% of the time I can beat that rate if you'll take a minute and shop around.  
• Putting it off or not doing it at all.  Many people don't realize that they can refinance at no cost to themselves and without too much hassle, so they just leave money on the table.  I now offer a free rate monitoring service -- I'll make it easy and contact you whenever it makes sense to refinance!  To sign up give me a call at 800-272-6688 or use the contact form on the website to e-mail me.