In these days of bank home foreclosures resulting from the subprime mortgage loan fiascoes many property and home owners feel "under the gun" , when it comes to mortgage renewals. It's no easy time in 2010 after all the sub-prime home financing. It may be that your mortgage is coming up for renewal or it may be a situation for a home upgrade or improvement loan - say for a necessary upgrade on your home heating and air-conditioning system to a newer high efficiency furnace system for your home, condo or property .
First of all - live within your means. Sure you may have met many personalities who in extent brag about defrauding the system, live well beyond their means, and in essence are bragging that they are much smarter than others. It seems that they seem to pride themselves that they are way smarter than almost everyone else - that are getting a free or subsidized ride at other hard working people's expense and effort. Remember two statements that your grandmother may have taught you - nothing is for nothing and always tell the truth. Add to that statement two truisms that "There is no such thing as a free lunch" and if it's too good to be true it is not, and it won't last long. So there!
It can be said not to leave things for the last moment. Leaving your mortgage renewal discussions and negotiations for the last minute - does not put you in good stead or placement for negotiating good terms and interest rates. You are behind the 8 ball and the vendor knows that. On top of that by leaving your research and decisions to the last minute you are limiting and hampering your options - not increasing or enlarging them. True you may get lucky and get a loans officer under pressure themselves - say from their boss, or perhaps a sales contest - but firstly why take that odd chance, secondly if that is the case by being prepared with alternative financing from other banks and savings and loans on your plate - you are in an even better position to negotiate a better deal for that interest rate or term.
It was once said by a wise physician that "Lassie it never hurts to ask". In the same way if you are unsure of what terms in the financial and loans field mean - ask. Remember that you are the paying customer. There is no shame in asking, only foolishness and even ignorance in not asking questions. If the officer plays the "trust me I am your friend mode" - well these are high pressure tactics. Tell them "either answer the question or I will ask your supervisor the same questions and expect answers". Simple as that.
Lastly just to restate. If you are unsure of answers to your queries when it comes time for your mortgage, mortgages for your home, real estate or properties it is your right to have answers to the questions that either are vague to you or that you do not fully understand or comprehend. Consciously inquire about which products offer the best interest rates, and lowest overall sum total payments over time. The person on the other side of the desk or counter has the obligation and obligations to provide you clear and detailed information as to both the risks and benefits of the mortgage products being offered to you. It's your nickel and your signature on the bottom line of the mortgage financial documents so to speak. - 30462
First of all - live within your means. Sure you may have met many personalities who in extent brag about defrauding the system, live well beyond their means, and in essence are bragging that they are much smarter than others. It seems that they seem to pride themselves that they are way smarter than almost everyone else - that are getting a free or subsidized ride at other hard working people's expense and effort. Remember two statements that your grandmother may have taught you - nothing is for nothing and always tell the truth. Add to that statement two truisms that "There is no such thing as a free lunch" and if it's too good to be true it is not, and it won't last long. So there!
It can be said not to leave things for the last moment. Leaving your mortgage renewal discussions and negotiations for the last minute - does not put you in good stead or placement for negotiating good terms and interest rates. You are behind the 8 ball and the vendor knows that. On top of that by leaving your research and decisions to the last minute you are limiting and hampering your options - not increasing or enlarging them. True you may get lucky and get a loans officer under pressure themselves - say from their boss, or perhaps a sales contest - but firstly why take that odd chance, secondly if that is the case by being prepared with alternative financing from other banks and savings and loans on your plate - you are in an even better position to negotiate a better deal for that interest rate or term.
It was once said by a wise physician that "Lassie it never hurts to ask". In the same way if you are unsure of what terms in the financial and loans field mean - ask. Remember that you are the paying customer. There is no shame in asking, only foolishness and even ignorance in not asking questions. If the officer plays the "trust me I am your friend mode" - well these are high pressure tactics. Tell them "either answer the question or I will ask your supervisor the same questions and expect answers". Simple as that.
Lastly just to restate. If you are unsure of answers to your queries when it comes time for your mortgage, mortgages for your home, real estate or properties it is your right to have answers to the questions that either are vague to you or that you do not fully understand or comprehend. Consciously inquire about which products offer the best interest rates, and lowest overall sum total payments over time. The person on the other side of the desk or counter has the obligation and obligations to provide you clear and detailed information as to both the risks and benefits of the mortgage products being offered to you. It's your nickel and your signature on the bottom line of the mortgage financial documents so to speak. - 30462
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