Ask the Dolans: Is now a good time to refinance my mortgage?
Filed under: Banks, Borrowing, Budgets, Home, Real Estate, The Dolans
Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.
Dear Ken and Daria,
With the current low interest rates, is now a good time to refinance a mortgage? If I have a refinance in the works, can I negotiate a new rate if they are cut again?
John
Ken and Daria Dolan can help you negotiate a smart mortgage and save hundreds on your payments! Learn more at Dolans.com.
Recent Posts
- Ask the Dolans: Should I re-address my estate planning documents when I move? (8/29/2008)
- Urgent safety matter: popular bassinet kills two infants (8/29/2008)
- Smithsonian's Museum Day - hundreds of local museums to offer free admission Sept 27th (8/29/2008)
- Are you ready for pay as you go car insurance? (8/29/2008)
- Fantastic Freebies: Love your mom and get a free movie rental (8/29/2008)

Reader Comments (Page 1 of 1)
6-10-2008 @ 6:04PM
Wireless Phil said...
Well, the advice it a bit late.
Darn near everyone is in foreclosure, jobs are being lost, gas (fuel) is over $4.00 a US gallon and the food prices are still going higher!
Oh... wait a second, I forgot, just in the news today, Wisconsin lost a earthen dam!
Everything is flooded and old Wis. is a dairy state!
There goes the price on dairy, through the roof!
Yes sir, $5-6 a gallon for milk doesn't sound too good to me and neither does high-priced cheese or meat!
There are only so many things you can stock-pile without the proper conditions, so don't buy to much or the wrong items!
Reply
6-10-2008 @ 6:09PM
Wireless Phil said...
One more thing if I may.
When strangers are beating on your door and you're afraid to open it up and they break in anyway?
Look to your Anti-gun people to save your ass cuse no one else will!
Reply
6-25-2008 @ 6:04AM
Diana Hillary said...
Yes, you should ask your mortgage specialist whether or not it would be beneficial for you to refinance at this time or whether it may be more beneficial to wait. If the interest rate that would be paid on remortgages is at least 2 percentage points lower than the current mortgage rate. Remortgage costs are usually around 2 percent, but can be negotiated down.
Reply
6-25-2008 @ 6:10AM
Christen Richardson said...
Also if you decided to refinance your mortgage, one of the main considerations is ARM - adjustable rate mortgage, and the question is if refinancing it could convert to a fixed rate remortgages (more about it here http://www.badcredit-mortgages.org.uk/bad_credit_remortgages.php ) and know what the interest rate will be for the life of the loan. This should also be considered if the next rate increase is greater than 2 to 3 percentage points. Again, consider how long the home will be lived in and calculate the savings vs. the new costs.
Reply
7-27-2008 @ 7:17AM
Michael Ferrari said...
"MORTGAGE BROKERAGE 100 PLUS LENDERS TO GET YOU BEST OPTIONS"
I am approved with all the "Major Lenders" such as Wells Fargo, CitiBank, Chase, Countrywide, plus many other to get you the best options for your rate and payment.
Don't be caught up with "DECEITFUL" loan officer's who start you off telling you one thing at the beginning as in your closing costs are $2,000.00 and then "DECIEVE" you as your nearing the signing with higher closing costs of $6,000.00 MORE than what was originally agreed upon.
You can feel "ASSURED" that what my Good Faith estimate reflects will be in the same neighborhood at signing!
I will immediately email you a Good Faith Estimate with all closing costs at beginning of the process, in which I am bound by real estate law to "HONOR" what I send to you. Many dishonest loan officers will never even mention anything or offer to email you a Good Faith Estimate, that is your "Red Alert Signal" that he may be a deceitful loan offficer.
The only basic information I need to email you is the following:
1. Loan Amount and appraised value of home approx.
2. Is this a rate and term or cash-out (If cash-out current lien amount)
3. Approx. fico score
4. What type of program are you looking for ex. 30 Year Fix, 15 Year Fix, 5 Year Arm, 30 Year Fix Interest Only
5. Are you self-employed or a wage-earner?
I will email you same day I recieve your information
Michael Ferrari
My Email is: MortgageLoansUSA@aol.com
Direct (714) 865-1536
LICENSED IN 48 STATES
Reply
8-06-2008 @ 12:46PM
Kalvin said...
Loan Modifications can stop foreclosure. It's also alot
cheaper than a refinance. My friend works for
Lender Modification dot com and says that he is helping
quite a few people. They work with all the banks and
take the guesswork out.
Reply
8-06-2008 @ 1:34PM
kalvin said...
Loan Modifications can stop foreclosure. It's also alot
cheaper than a refinance. My friend works for
Lender Modification dot com and says that he is helping
quite a few people. They work with all the banks and
take the guesswork out.
Reply