Review of Refinance Mortgage

Well folks, it's time to start thinking about a refinance again. So, how do you go about finding a Dallas refinance mortgage? There are a couple of different ideas and reviews in my other posts. So, stay tuned and I will post more thoughts around how you may go about getting a refinanced mortgage.

Rates for Mortgage Refinance in Dallas

I decided to do this blog to try and help others through the thought process of getting a refinanced mortgage. More specifically, a Dallas mortgage. So, what should you look for? Rates are usually the first thing to consider. But, what about points? Do you put some points down? If you pay upfront points, it will usually lower your overall rate. There are some Dallas refinance mortgage companies that require you to do this if you have average to low credit. But, it may not be a bad idea in the long run.

Dallas Refinancing Services

What I find interesting about companies that specialize in Dallas refinance mortgages, is that they all have their angle on their service. For the most part, almost all mortgage companies do not have anything different to offer than their competitors. Since most mortgages are underwritten by a few firms, or the government, then really, you are buying services. That's where Dallas refinancing comes in. Most of these firms have really good service since when you need to refinance, most of the action is service to find the best refinance option.

Obama - HAMP Home Affordable Modification Program

There are is a government sponsored program started by President Obama called HAMP. HAMP stands for Home Affordable Modification Program. The purpose of this program is to speed up the review process for load modification programs. Many of the Dallas Brokers will be able to help you with this process.

Studies have shown that there was a large failure rate of the HAMP (program). This was mainly due to homeowners utilizing the program to avoid foreclosure. There have been others who have had success in using HAMP to avoid foreclosure.

One of my suggestions and advice is to consult with people familiar with the HAMP. Each homeowners circumstances are different and a professional is better to ask your specific questions to. The more thorough the question and answering sessions you have about HAMP and mortgage refinancing in Dallas, the better your results will be.