Questions & Answers
Get the answers on home selling and buying.
Refinancing - Q & A
Q:
When is the best time to refinance?
A: The traditional answer to that
question is when interest rates fall 2 percent below your current
mortgage interest rate. However, in recent years some experts have
argued that refinancing may be appropriate with a smaller point
spread.
Some weight is often given to the length of time the owner anticipates
holding on to the property. If the owner expects to keep the property
for at least three or four years, then refinancing may be worthwhile.
While refinancing can involve upfront costs,
in many cases it is possible to roll the costs of the refinancing
into the new note and still reduce the amount of the monthly payment.
Q: Where do I get
information on refinancing?
A: For information on refinancing,
the following booklet may be helpful:
* "A Consumer's Guide to Mortgage Refinancings;" Federal
Reserve Bank of San Francisco, Public Information Department, P.O.
Box 7702, San Francisco, CA 94120; call (415) 974-2163 to order.
Q: Can I refinance
after bankruptcy?
A: Refinancing may be prudent but
could be difficult after a bankruptcy. If you're considering bankruptcy,
you may want to go to your current lender first and explain the
situation. If you have been current on your payments, the lender
may be accommodating and refinance your loan, easing your financial
situation.
Copyright 1999 Inman News Features
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Refinance
Home Loans |
Are you looking for
a better interest rate?
Or, are you looking to make some needed home improvements?At Flamingo
Trust Mortgage Corporation we can help you get the finest rates
available to refinance your home. |
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Frequently
Asked Questions |
| Our comprehensive list
of frequently asked questions might be just the thing you need to
help you with you loan descisions. Be sure to take a few minutes
and browse through them. If there aree any questions you can not
find the answer to then either send us an email or give us a call
1.877.386.2386 |
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Condotel
Financing |
| Flamingo Trust Mortgage Corp. offers a number
of different loans for condo-tel financing. Flamingo Trust Mortgage
Corp. is able to obtain up to 80% loan to value for purchasing or
refinancing condo-tels. |
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Loan
Programs |
| We offer multiple loan programs to fit every
individual situation. Fixed rate, Adjustable rate, Construction Loans,
Jumbo & Super Jumbo Loans, Debt Consolidation, Home improvement
Loans and many more. |
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Apply
Online |
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Flamingo Trust Mortgage Corporation makes
it simple to apply for a new loan or to refinance by offering you
the availability of applying online. See how quickly we can get
your loan approved!
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