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Real Estate & Mortgage Forum > Mortgage Questions & Answers > Mortgage Information (Moderator: Ann) > 

how we can save money by refinance mortgage?

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Author Topic: how we can save money by refinance mortgage?  (Read 1111 times)
catchvino
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« on: May 11, 2009, 09:30:08 AM »
Hi i want to know what is refinance mortgage and how we can save money by refinance mortgage and whether it is worthy? 
zoeann
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« Reply #1 on: May 13, 2009, 01:19:34 PM »
A refinance is when you have a mortgage already with a higher interest and u get a new one to pay your old/current one. Every situation is different. You have to run the numbers and make sure that it makes sense for you because often time refinancing can cost thousands.
Zoe Ann
Ann
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« Reply #2 on: May 17, 2009, 12:39:04 PM »
You have to calculate how much your monthly saving is. That times 12 will get you the yearly savings. from this you can tell home long it will take you to get back your closing cost. Anything beyond that time is gravy.
Amy
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« Reply #3 on: October 20, 2009, 06:03:32 PM »
Find a lower interest loan to payoff your higher interest loan. No rocket science here Wink
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heidrek
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« Reply #4 on: November 16, 2009, 01:41:12 PM »
Hi Catchvino,

There are plenty of ways refinancing can help people depending on their situation.  There's an article on refinancing here that discusses exactly this question.  Hope it helps.
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mort
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« Reply #5 on: November 29, 2009, 02:05:46 PM »
Hi heidrek thank for that link information  Grin
mortgage refinance | mortgage refinance for you reference
refinance90
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« Reply #6 on: January 13, 2010, 02:40:31 AM »
I think you can get best information about Refinance Mortgage from  wikipedia  because this is best site to read any information.
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