Little Known Secrets to Refinancing a Mortgage

What if you could get reliable refinancing advice? Now you can! The secrets I am about to share with you have never been explained anywhere else. In a nutshell, they can be summed up by saying, Qualify your lender before your lender qualifies you!

Robin's Refinancing Choices

I'd like to tell you a story. My neighbor Robin called a mortgage broker who had helped her co-worker. Robin was pleased that he seemed quite friendly. Even better, he quoted the lowest interest rates she had heard in weeks.

Excited, Robin applied for her home loan. But when she called to see how her mortgage was proceeding, none of her calls were returned. Eventually the mortgage broker called back and told her interest rate turned out to be higher.

My neighbor wondered where she had gone wrong but she should not have blamed herself. It wasn't Robin's fault. There's never been an abundance of education for homeowners. They just don't teach this stuff in school.

Getting Your Best Mortgage Rate

Well, I have good news for you. Let me introduce myself. My name is Kate Ford. I'm a former mortgage broker. For over 20 years, I helped thousands of people just like you.

Early on in my lending career, I noticed one question that was asked over and over by mortgage applicants. "Kate, what's your best mortgage rate?"

What a question! It just made me cringe. It was like a sticky note had been slapped on their forehead saying Take advantage of me! But I knew it wasn't their fault. No one ever told them how to qualify their lender.

So I began developing a list of refinancing questions. You can find them at The Easy Path To Low Mortgage Payments right here on my website.

Qualify Your Lender

Maybe this term, qualify your lender, makes you chuckle. It might even sound a little strange. That's because no one has introduced you to this concept. But I assure you, if you use my list of questions, you will qualify your lender and get your best mortgage rate.

Louise Hart said,

Knowing what you want is the first step to getting it.

I say when selecting your lender,

Knowing what to ask is the first step to getting it.

Start now! Put my advice into action with The Easy Path to Low Mortgage Payments.

Ask Kate About No Cost Reverse Mortgage Refinancing

By Shelley S. from Redford, MI


I'm 62 with no debts but I need money so I'm thinking about a reverse mortgage. But my son is telling me the finances charges will be more than the loan or value of my home. Is this true?

I talked to a man from Liberty and he explained everything I thought quite well. Then I talked to Quicken who said Liberty was lying about having a no cost reverse mortgage.

Does every loan company charge a closing cost? Quicken said Liberty is hiding the cost and it's in the loan. Is this true?

Thank you, Shelley

Ask Kate answers: No Cost Reverse Mortgage Refinancing

Dear Shelley,

Whenever you refinance, you must obtain written good faith estimates from both companies and compare them carefully to determine which is the best deal for you.

As with any type of mortgage program, no closing cost loans are a bit of a misnomer because lending institutions must make money to pay their overhead. Generally, there are third party fees that must be paid also. So either you pay fees in cash, have them taken out of cash proceeds, roll them into the loan amount, or finance them by accepting a higher interest rate.

Go here to learn how to read good faith estimates.

Reverse Mortgage Counseling

Whether or not your lender requires it, I highly recommend that you consult a reverse mortgage counselor and other trusted professionals. There are too many myths, errors, and misconceptions floating around the finance world to not take a couple of hours to make sure you understand your obligations once you commit to a reverse mortgage loan.

Savvy Shoppers Compare Refinance Fees

Go here to learn how Savvy Shoppers Compare Refinance Fees. And while you're there, follow the links to even more information on my website.

Best wishes,

Kate Ford

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