Posts tagged as:

refinance

Fantastic! I am “Skipping” a Mortgage Payment.

May 18, 2009

Why am I skipping a mortgage payment?  This is a frequent question at the settlement table and one that deserves a detailed answer. The first mortgage payment on your new loan is typically due the first day of the second month after you have signed the mortgage papers.  For example, your refinance settlement takes place on [...]

Read the full article →

I Want My Money Now, Not Three Days From Now!

March 18, 2009

If you are refinancing your primary residence, no funds will be disbursed until three business days have elapsed, during which time you are able to cancel your transaction.

Read the full article →

Escrow Accounts – How They Work

January 22, 2009

If you are fortunate enough to be able to refinance your mortgage loan into a lower interest rate, you should know how your escrow account with the new and current lender will be handled.  The mechanics of escrow accounts are complicated, and many borrowers want to know: What is escrow, and where does the money [...]

Read the full article →