Staten Island Real Estate Lawyer: Top 5 Reasons Why You Should Refinance Your Loan

With today’s market the way it is with the prices of food, gas and other expenses which seem like are almost constantly rising everyone is looking for more ways to save money and lower their monthly expenses.

If you are a homeowner and have a mortgage a good way to maximize your money is to refinance your loan.
Here are just some of the reasons why refinancing may be the best option for you:

  1. You can lower your monthly mortgage payment
  2. You can consolidate your debt – some banks will allow you to consolidate your debt into one low monthly payment when you refinance.  Some times this is very beneficial because you can payoff credit cards that have been lingering over your head for years.
  3. You can keep your payments from rising – if you have an adjustable rate now is definitely time to consider refinancing with the rates as low as they are.  By locking into a mortgage that has a fixed rate you are guaranteeing that your loan will stay at a low mortgage rate no matter how high the rates go in the future.
  4. You may be able to take cash out – you can take cash out against your loan when you refinance and use the extra money to pay off high interest credit cards or make renovations to your house.
  5. You may be able to utilize government programs – there are certain programs such as the Home Affordable Refinancing Program which are designed to help those who are looking to refinance but their loan is higher than the value of their home at the time of the refinance.

If you are looking to refinance your New Jersey or New York home contact Steven T. Decker Staten Island real estate lawyer specializing in areas such as refinancing and loan modifications at 718.979.4300 ext. 37.  Steven Decker works everyday with banks such as Wells Fargo and HSBC everyday to help people with their refinances and mortgage modifications.

Steven T. Decker is an experienced real estate lawyer, author and speaker. With over 20 years of experience, Steven represents individuals and investors in the purchase of residential and commercial real property. Steven is the author of "The Five Myths that can Ruin the Purchase of Your Home" and he is the publisher of the "New York Real Estate Law Blog". If you are buying or selling a home or commercial property in Staten Island, New York City or New Jersey contact Steven T. Decker, Esq. to discuss the services that he offers and how his legal representation will assist you.

IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Steven T. Decker, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. The content of this website is subject to the Copyright of its author, Steven T. Decker, Esq.
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One Response to “Staten Island Real Estate Lawyer: Top 5 Reasons Why You Should Refinance Your Loan”

  1. [...] If you are considering refinancing your home but are not sure if refinancing is right for you, you can read more information about refinacing your loan by reading our article “Top 5 reasons why you should refinance your loan“. [...]

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