My daughter and her husband have been in financial trouble since he lost his job. He’s a good guy and he’s trying to find a new job, but it isn’t easy. They’ve received notice of their bank’s intention to begin the foreclosure process on their home if they can’t get caught up on their mortgage payments, and she’s very worried. I suggested they consider an adjustable rate mortgage refinance and told her to go to Real-estate-yogi.com to get information about the process. She did, and when she called me back a few days later, she was full of praise for this user-friendly, no-cost website.
Andi (my daughter) could not say enough about how easy it was to move around Real-estate-yogi.com. She went from one topic to another within the site easily, and she’s not especially computer literate, so that’s saying something. She learned what a refinance of a loan is – a new loan pays off the original and you get better terms – and how to go from an adjustable rate mortgage to one with a fixed interest rate. She thought the refinancing procedure was going to be complicated but found out that it really wasn’t at all. All she and her husband had to do was fill out an application with their lender and provide proof of their financial hardship. They also brought in my daughter’s employment pay stubs and my son-in-law’s unemployment insurance receipts. They found the loan officer very helpful and were soon finished with the application. Now they’re waiting to hear back from the bank.
Andi has been making good use of the waiting period. Still navigating through Real-estate-yogi.com, she learned that, with mortgage rates low now, more people are refinancing their adjustable rate mortgages into loans with fixed rates. The major difference between the two is that an adjustable rate mortgage payment fluctuates as the market does, whereas one with a fixed rate stays the same for the life of the mortgage. The home buyers for whom it is most sensible to get an ARM (adjustable rate mortgage) are the ones who intend to live in the house for less than 15 years. In order to take full advantage of an ARM, a prospective home purchaser should consider the benefit of a low rate against the risk of higher rates in the future and take steps to ensure that he’ll have the money to pay the increased payment.
Real-estate-yogi.com is a full-service website whose aim is to help folks refinance an adjustable rate mortgage easily by providing guidance via the specialists who contribute their brilliance to the site. There are always knowledgeable staff members available to help, and the site is operational 24 hours a day, every day of the week. For your complimentary initial consultation, dial 1-800-987-1397.
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