Tips for 2013 Refi-ers

Get Tuned in to HARP – The Home Affordable Refinance Program (HARP) allows underwater home owners to refinance.  This wildly popular and successful program is set to expire at the end of 2013.  Despite current efforts from a few senators to extend and expand the program, our strong real estate market (combined the dysfunctional nature of politics) will make it likely 2013 will be the end of HARP.  Find out ASAP if you qualify.  Either give me a call or fill out the short questionnaire at my web site www.UnderwaterRefiCA.com

Find Out Your Home’s Value – For those that don’t qualify for HARP, a refinance loan will require you have at least some equity in your home.  With home prices rising so dramatically last year, many homeowners will now find the opportunity to refinance.  As a combined mortgage broker and real estate agent, I have the added knowledge and insight to estimate your home’s appraised value prior to pursuing a refinance (and paying $450 for an appraisal!!).  Give me a call or select Home Value Request on our web site and I can research your home’s possible value.

A Penny Saved is a Penny Earned – As our population ages (Baby Boomers, I’m talking to you), more and more homeowners are looking to move their investments to safer alternatives than the stock market. If this sounds like you, consider refinancing and paying down your mortgage at the same time.  Doing so will dramatically lower your mortgage payment, thus providing you with lower housing expenses in retirement.  Furthermore, your lump sum investment towards paying down the mortgage essentially gives you a guaranteed rate of return equal to the interest rate on the mortgage.  Try earning a guaranteed 4% rate of return on a CD or other form of safe investment.  Remember, a penny saved is a penny earned!