Refinancing Your Mortgage Pros and Cons

When it comes to paying off your mortgage, there is more you can do in addition to sending in your payments. If you aren’t satisfied with your current plan, refinancing is an option that might be available. Refinancing is when a homeowner transfers their mortgage to a different organization or account. There are two kinds of refinances to consider. The first is an external refinance, or when you move your loan to another financial lender. The second is an internal refinance and occurs when … [Read more...]

8 Steps in the Mortgage Loan Process

The mortgage loan process is the process by which borrowers get approved for a home loan and lenders mitigate their risks by catering to only qualified borrowers. It involves the processing of extensive documentation and requires several quality control checks to ensure that all information presented is accurate and complete. Mortgage processing involves several key steps. Here are a series of 8 basic steps that accurately describe the entire mortgage loan approval process from pre-approval … [Read more...]