4 Reasons to Refinance Your Home
- 6 years ago
4 Reasons to Refinance Your Home The opportunity to refinance was born out of the 2008 Housing Crisis. Rates were dropped to historical lows to combat the recession. But interest rates are about to rise again.
There are still 6.7 million homeowners that
have not yet cashed in on potential savings, according to myfinance.com Here are some
reasons to consider
refinancing your home. 1. Your financial
situation has changed Depending on your situation, you could either
lower your monthly payments or cut your
repayment period down significantly. 2. You have other types of debt. Refinance with a cash-out option or snag
a home equity loan to consolidate your payments. 3. You were affected
by The Housing Crash. HARP helps people with little or no equity refinance at a better rate. 4. You want to make a big
purchase or return to school. When it comes down to it, refinancing is better than taking out another loan at a higher interest rate.
There are still 6.7 million homeowners that
have not yet cashed in on potential savings, according to myfinance.com Here are some
reasons to consider
refinancing your home. 1. Your financial
situation has changed Depending on your situation, you could either
lower your monthly payments or cut your
repayment period down significantly. 2. You have other types of debt. Refinance with a cash-out option or snag
a home equity loan to consolidate your payments. 3. You were affected
by The Housing Crash. HARP helps people with little or no equity refinance at a better rate. 4. You want to make a big
purchase or return to school. When it comes down to it, refinancing is better than taking out another loan at a higher interest rate.