Proactive Homeowner With Refinancing Advice
(Brighton, CO USA)
Ask Kate: Proactive Homeowner With Refinancing Advice Here's another homeowner success story with proactive refinancing advice. afterward, you'll find details on fixed rate mortgage programs. --Kate
Hi Kate, My husband and I purchased our home right before the housing market started to crash. We had originally signed a mortgage for an adjustable rate mortgage, with a very low introductory payment amount.
Within a month of closing, we knew if we wanted to keep our house, we would need to refinance for a 30 year fixed rate mortgage.
We contacted our bank, and they were very willing to consider the refinancing option. Our home had not lost any initial value from when we moved in, so re-writing and refinancing for a better rate was pretty easy.
While the payments are now much higher per month than the low introductory payment amounts were, we are locked in at a good interest rate for the next 30 years.
We need not worry about the housing crisis as much as others in our neighborhood. Rachael
Kate Answers: Proactive Homeowner With Refinancing Advice
Hi Rachael, Congratulations! So great to hear your success. Getting a fixed rate mortgage is sound refinancing advice.
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