Home Mortgage Rate Shopping - Why Some Shoppers Give Up And Others Dont

About 29% of current homeowners and a much larger percent of consumers with income levels above $50,000 feel it best to stay as far away from offers to finance or refinancing their home as possible. And this seemly for good reason. Trying to get a great deal on a mortgage loan or shopping for low rate refinancing can be a pain in the neck and a complete and total hassle for most of us. What's worse, when we think we've found a great offer we're made to feel like a heel when we start asking questions about rates, points and fees. But of course their making us feel like a heel is all a part of the game, right?

The fact is many large transactions make it to the closing table under duress, an urgent need to relocate or the pressure to relieve oneself of heavy debt obligations. Aside from these factors most of us just aren't motivated to make changes on a financial basis even if means risking sustaining our present way of life.

Ignorance Is Bliss Until...Often the real reason behind not being motivated to make major home improvements or lower ones mortgage rates to something more reasonable may very well be the bliss of ignorance. That is to say the bliss of simply not knowing how. Not knowing how to finding the right loan. Not knowing how to find the right lender. Not knowing how to lower ones rates or how to eliminate all the unnecessary red tape. Not knowing how to tell a predatory lender from a lender who actually has your best interest reflected in his closing documents. Not knowing how to accelerate the loan process. It's no wonder we don't know how to approach these issues, most of the news articles and periodical we read don't address these needs and issues with enough depth to achieve the desired results.

The sad thing is when we finally decided to look into doing something about it all we get fed is a bunch of hot air from folks who can't wait to get their grimy hands on our money or worse hour home. So we sit and we wait until the pretence that we are protecting our assets runs thin. While we wait and do nothing we are confronted with the fact that while everyone else's home is appreciating ours may actually be depreciating not to mention the need to address all the mounting credit card debt and those bills that seem to be piling up daily. Yes ignorance is bliss until the roof caves in or the termites take a bite out of that untreated deck.

Knowing Is The Best MotivatorWe must admit at some point in time that protecting our assets can be better accomplished when we know exactly who and what we're protecting them from in the first place. And that would be our creditors, the termites and above all ignorance itself.

Getting to know our financial situation better as well as our options for improvement may actually help us protect and maintain what we value most - our way of life.

From Borrower To InvestorAccording to The Mortgage Loan Search Network, an online informational resource at www.bcpl.net/~ibcnet the key to protecting our assets is allowing their value to reach it's full potential. That is to say, when our money and other assets increase in value and start to make money we are in a better position to maintain what we've worked so hard to acquire.

That said, when one must opt for a home equity loan or cash out refinance loan in order to make necessary improvements in the home or invest in a business or pay college tuition costs the borrower in fact becomes an investor. The money borrowed is being used to bring in a greater return. With that in mind a site called LowMortgageRates at www.lowmortgagerates.cc. lists a number of ways to borrow cash, reduce mortgage rates while lowering mortgage payments, increasing ones home value and creating an income stream to offset debt and eventually eliminate most if not all debt over a shorter period of time.

Getting To The Bargaining TableStill the questions looms, how do you find the right loan, the right lender, lower your mortgage rates, eliminate unnecessary red tape, avert predatory lending schemes and accelerate the loan process? According to one mortgage rate shopping site much of this can be handled in the following ways:

1. Work with your current lender. All your loan documents are already on file accelerating the loan process.

2. Get recommendations of good, reputable, credible lenders from respected trusted sources such as family members, friends and co-workers.

3. Ask recommended lender for references from satisfied customers.

4. Get several low mortgage rate quotes using online tools.

The low mortgage rates network at www.lowmortgagerates.cc presents foolproof methods of screening lenders and getting the rates you want quickly and painlessly. For example, the site suggests that when you're ready to step over to your current lenders bargaining table bring along low mortgage rate offers from other lenders such as those found online. This will motivate your current lender to meet or beat your best offer.

Ignorance is only bliss until the unforeseen overtakes us. After that we either kick ourselves for not knowing or we smile warmly and proudly for having taken the time to learn how to protect our valued assets and way of life.

Mark Askew is the founder of the LowMortgageRates Network, a mortgage and home refinancing information resource for low mortgage rate shoppers located on the web at http://www.lowmortgagerates.cc

Investopedia (blog)

Mortgage Refinance Applications Hit 18-Year Low Investopedia (blog) Mortgage refinance applications hit their lowest level since December of 2000 as mortgage rates have increased through most of 2018. According to data from the Mortgage Bankers Association (MBA), for the week ending July 6, mortgage applications ... and more »

The Citizen Daily

Mortgage Refinance Company lists Sh12bn bond The Citizen Daily Dar es Salaam. Tanzania Mortgage Refinance Company Ltd (TMRC) has listed a Sh12.5 billion bond at the Dar es Salaam Stock Exchange (DSE), giving investors another investment avenue. This is the first segment of the Sh120 billion corporate bond ...

The Citizen

Mortgage Refinance Company Sh12bn bond exceeds target by 4.3pc The Citizen Dar es Salaam. The Sh12 billion bond issued by the Tanzania Mortgage Refinance Company (TMRC) Ltd has been oversubscribed by 4.3 per cent as the sale closed. The financial institution which has a sole purpose of supporting mortgage lending in the ...

Business Daily (press release) (blog)

Mortgage refinancing key to unlocking affordable housing Business Daily (press release) (blog) This is why I find the latest effort by the National Treasury to establish a window for a mortgage refinance company highly laudable. The announcement by the National Treasury, back in April 2018, of the creation of Kenya Mortgage Refinance Company may ... and more »

National Mortgage News

Mortgage refinance candidates cut by half in the past four months National Mortgage News The number of mortgage borrowers for whom it made sense to refinance declined by nearly half since the end of last year and is at its lowest since November 2008. Approximately 2.3 million mortgagors are candidates for a refinance, a decline of 2 ... and more »

CNBC

Mortgage refinance applications surge 9 percent as rates fall back CNBC Interest rates on home loans are now significantly lower than a year ago, and that may be bringing more homeowners back to their lenders to refinance. Total mortgage applications rose 4.7 percent last week from the previous week. The increase in the ... and more »

Bankrate.com

4 ways to get the best mortgage refinance rate Bankrate.com When mortgage rates are low, you can cut your monthly house payment by refinancing into a better interest rate. If you can shave at least one-half of 1 percentage point off your current mortgage rate, it can be worth your while to trade in your ... and more »

HousingWire

Mortgage refinance share jumps 5% despite rising interest rates HousingWire Mortgage refinance share jumps 5% despite rising interest rates. Expected to soon sink back down. February 23, 2018. Kelsey Ramírez. KEYWORDS Ellie Mae FHA mortgage rates Refinance. House. The refinance share of mortgage activity increased a full ... and more »

HousingWire

MBA: Mortgage refinance apps increase from week before HousingWire Mortgage applications increased 0.7% from last week, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending February 2, 2018. On an unadjusted basis, the index increased 4% from last week. and more »

Business Daily (press release) (blog)

Mortgage sacco to be established Business Daily (press release) (blog) Francis Kamande, the chairman, said the mortgage sacco business model will see Nachu facilitate the country's 23,000 saccos to get mortgage guarantees from Kenya Mortgage Refinance Company, enabling them to fully participate in the government's ...