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Homeowner's Guide to Mortgage Refinancing

A Homeowner's Guide to Mortgage Refinancing

If the urge to refinance your mortgage has come over you, you're not alone. Millions of homeowners have cut their interest rates, monthly payments and will save thousands of dollars over the life of their loans.

Or so they think. The truth is that for at least some of those people, refinancing will cost them plenty in the long run. They might select the wrong mortgage for their needs, might not know what options are available, or simply don't know where to begin.

Just knowing that there's really no such thing as a "no-cost refi" can help you get the right mindset to locate the best possible deal.

"Mortgage Refinancing," another booklet in HSH's "A Homeowner's Guide To" series outlines the best steps to a successful refinance, whether it's to get a better rate and payment, lower your overall interest cost or to draw equity out of your home. The 12-page booklet helps homeowners understand the costs and risks associated with swapping an old for mortgage for a new one, and includes a monthly payment table and a chart to show when a "break-even" point for recouping costs has occurred.

If you're a homeowner, "A Homeowner's Guide to Mortgage Refinancing " is for you. The booklet is available for $4 (money orders only) from HSH Associates, 51 Route 23 South, Riverdale, NJ 07457.

This booklet is also available in combination with our Homebuyer's Mortgage Kit for an additional price of $2.

To order by mail, please send a money order (sorry, no personal checks) to this address:

HSH® Associates
Dept. RFI
51 Route 23 South
Riverdale, NJ 07457

Accredited media wishing to preview a copy should request a copy. Please include the name of your media outlet, your office address, and your e-mail address.

The booklets in the "A Homeowner's Guide To" series include:

More help from HSH.com

  • What is a rate and term refinance?

    Homeowners have a variety of reasons for refinancing and each reason can indicate that one refinance option or another makes the most sense.
  • When refinancing at a higher rate makes sense

    Trade your old mortgage for a new, higher-rate version? There are times when it actually makes sense.
  • Should I pay off a mortgage early?

    By making extra principal payments or refinancing your mortgage, you could pay a lot less interest and free yourself from your mortgage ahead of schedule. Here are the pros and cons of retiring your mortgage early.
  • How does a refinance in 2017 affect your taxes?

    After a mortgage refinance, there are some specific "dos" and "don'ts" you need to know prior to filing your income taxes, as well as a few pointers that can help you lower your tax bite.

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