Finally, make sure you pass up on the first offer that any one lender gives you. Make sure to talk to all 3 and to get quotes from each one. Then, go back to each and see if they can go a little better before you accept an offer.
Once you have discovered what fees you will have to pay to refinance, and how much your outgoing and incoming lender will charge, you will need to weigh up whether it is worth refinancing. You should also factor in any changes in your interest payable to determine whether you will save money by refinancing or whether you are better off sticking with your current home loan.
* Use the equity of your home for your benefit- as an alternative to a home equity loan, you can choose to refinance your home for an amount greater than the remaining balance of your mortgage.
Another reason to consider refinancing your home mortgage after a bankruptcy is that this will automatically start you on the path to repairing your credit. The refinance will show up as a new loan. The older loan, which due to the financial problems that brought about your bankruptcy may have had late payments or missed payments, is closed. The new loan will show no late payments or penalties.
In a case like this, the quicker you can get the refinancing done the better it will be. Take advantage of various refinancing options and it can prove to be a turning point in your life. If you have overwhelming small debts such as small bills, car loans etc that have quite high interest rate and find the payments are getting too much for you to handle then you can should stop struggling with it and refinance your home.
People that need cash usually resort to personal loans and mainly unsecured ones. Though an unsecured loan is probably the best solution if you are facing an emergency given the speed of the approval process, if you have enough time, there are other solutions that can provide cheaper financing and more chances of approval. Mortgage Refinancing is of all those other solutions probably the most inexpensive.
E-loan, Lending Tree, and other online mortgage shopping sites are great, but be careful! They are national mortgage shopping sites. That might sound nice because you get mortgage lenders from across the nation competing for your business, but be careful - any lender other than a mortgage lender who is familiar with lending in your home-state will not be familiar with local practices, and that could cost you in many ways. It might not only cost you that lower interest rate, but depending on your other circumstances, it could actually cause you miss that window of opportunity.