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If you are in the process of mortgage refinancing, any number of problems can delay closing on the new mortgage loan. There are steps you can take to ensure closing on time; unforeseen delays could result in your interest rate guarantee expiring and paying more fore the new mortgage. Here are several tips to make sure mortgage refinancing goes smoothly and that you do not overpay due to unforeseen delays.

Mortgage refinancing has become an extremely popular avenue for borrowing against your equity and reducing your monthly payment amount, despite rising interest rates. Even if you cannot qualify for a lower interest rate than you already have, you can still lower your monthly payment amount. Because you are required to pay fees when mortgage refinancing, it is important to shop around from a variety of mortgage lender and minimize your expenses.

If youve decided mortgage refinancing is right the right choice for you, start by collecting the necessary documentation for your new mortgage lender. You will be required to provide proof of income and assets in the form of pay stubs, bank statements, and tax returns going back at least two years. You will need a recent statement from your existing mortgage lender, the payoff balance of your mortgage, your homeowners policy, and the most recent appraisal and survey of your home. Collecting all of these documents before applying for a new loan will eliminate 90% of the delays homeowners encounter during mortgage refinancing. You will want to stay in close communication with your loan representative in case additional information or documentation is required by the lender.

Mortgage Refinancing: Be Prepared to Pay Closing Costs and Points

Mortgage refinancing is just like applying for any other mortgage loan; you will be required to pay origination fees, possibly discount points, and closing costs to secure the loan. If you are unable to pay closing costs many lenders allow you the option of financing this expense with your mortgage; doing this will significantly increase your total finance costs and is usually not worth doing. You may also have the option of buying down your mortgage interest rate by paying discount points to the lender. Discount points are a fee you pay in exchange for more favorable terms or a lower interest rate. Before agreeing to pay points you should determine if the benefit you receive justifies the cost, and how long it will take you to recoup this expense from your potential savings. Having this information will allow you to make an informed decision if paying points is right for you.

Mortgage Refinancing: Watch out for Private Mortgage Insurance

If you plan on taking cash back from your equity when mortgage refinancing, be careful that you do not borrow more than 80% of your homes value. If you go over this 80% percent threshold, the lender may require you to purchase Private Mortgage Insurance and could delay your closing. This insurance does nothing to protect you and can increase your payment amount by hundreds of dollars. Private Mortgage Insurance only protects your lender from losses if you default on the loan; it would be in your best interest to avoid paying this expense.

You can learn more about your mortgage refinancing options, including costly mistakes to avoid by registering for a refinancing guidebook.

To get your free mortgage guidebook visit RefiAdvisor.com using the link below. Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. For a free copy of "Mortgage Refinancing - What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com. Claim your free mortgage refinance information guide today at: www.refiadvisor.com Mortgage Refinance Information Article Source: http://EzineArticles.com/?expert=Louie_Latour

There are many amazingly beautiful beaches in New Jersey that the only way to get to get as much fun and sun along the shores of New Jersey is by hiring a charter bus there! The charter bus can take you from one beach to another much faster than if you drove yourself or took a hired car. Heres what a typical day in New Jersey can be if you take a charter bus instead of driving yourself there.

The first place you should take the charter bus to is the amazing Fantasy Island Amusement Park a true gem in New Jersey because it combines the fun one would have on a beach together with rides and amusement park. Hop off the charter bus and come into a land that is created with the regal Victorian air that is absolutely unique. Its BOTH a theme park AND a beach! Well, even if youre not a fan of amusement parks, youll really love the bustling surrounding as you enjoy the myriad of games, rides, food and loads of other entertainment options.

Another place not to be missed in New Jersey is the Casino Pier and Water Works. This is an amusement pier with more than 35 rides that will, literally, leave you breathless. For those who are into a little bit of gaming fun, hop off the charter bus and head on to the casino. Good luck, there. After such an exhilarating day, were sure youre ready for a little bit of rest and, this, you can take a short nap inside the charter bus. Isnt it amazing since you dont need to worry about driving and finding your way around? Well, this is one of the perks of having a charter bus at your beck and call.

if you feel that youve had your fill of fun and sun in New Jersey, either direct the charter bus back to the hotel where all of you can unwind and relax for a bit before calling it a day or you can take the charter bus to a popular night spot in New Jersey. THAT should complete your fun-filled day!

UsCoachways is a leading US-based charter bus service provider with an impressive list of charter bus service clients. Check out http://www.uscoachways.com Article Source: http://EzineArticles.com/?expert=Marsha_Maung