Business and Personal Mortgage Issues
In a tight lending environment, it is more critical than ever that all supporting financial documents to proposed lenders be developed to reveal the strength of the project and the correct and proper financial position of the entity seeking the mortgage. One reason a mortgage may be declined is that tax returns do not express the ratios some lenders require even though the project is adequately capitalized. Many commercial properties also are too unique for traditional banks, although the project would qualify on its fundamentals. Know what strategies make sense for your deal before you approach your credit sources.
Is now the right time to refinance the mortgage on your home?
Jim Cramer from Mad Money thinks so!
Jim Cramer (host of CNBC’s Mad Money) “knows a lot about picking the right stocks, but he also knows a thing or two about the real estate market and saving money. As an owner of multiple properties, Cramer himself was in the process of saving $800 a month on his mortgage and he stresses to any homeowners that now is ‘still a great time to refinance.’”
“Shop around…Lenders will reduce rates and points, and drop fees, just to earn your business”- Jim Cramer