You're considering a home refinance loan, not because it
seems like the thing to do, but because you've identified
refinancing as the financial strategy you'll employ to
reach your financial objectives. Now how do you go about
choosing the right mortgage broker?
After all, your broker is a critical piece of the puzzle
that will determine whether your refinancing efforts are
successful or not.
Because your mortgage broker plays such an important role
when you refinance, you need to be sure that he or she is
the right person for the job.
Don't be afraid to ask the hard questions, and at same
time, expect the right answers before you entrust personal
financial information to them.
Think about it. Your broker is going to have in his or her
possession your entire financial life, from Social
Insurance Number or Social Security number (depending on
where you live), and how much you make, to how long you've
worked for your present employer. Before you pony up this
information, it's imperative that you find out that they're
trustworthy.
Before selecting a broker to handle your refinancing needs,
check them out with former clients - ask for references.
This is a good way to shake the bad apples out of the tree.
If they're reputable and as good as they say they are,
they'll be glad to put you in contact with previous
clients. Whatever you do, don't take no for an answer.
Don't settle for excuses, and don't be put off. If your
mortgage broker won't give you the references you
requested, then head for the door as quickly as
possible.Any mortgage broker worth doing business with will
have a list of former clients.
Call several of them and ask them these 5 questions:
1. What was their overall experience like with this
mortgage broker?
2. Were they happy with the final outcome he or she
provided?
3. Were their concerns handled quickly and directly?
4. Were calls answered or returned promptly?
5. And of course one of the most important questions, would
they recommend his/her service to a friend?
When you're refinancing your home you want to know that
you're dealing with a true professional. There's really
only one way to find out. Do your homework, make a few
calls, and put your mind at rest. Your refinancing
experience will be much more pleasant and memorable if
you're dealing with a good broker.
----------------------------------------------------
Darrin Roseborsky is a Refinance Specialist with OMAC
Mortgages, seminar speaker and president of
HomeRefinanceCoach.com. Darrin shows people how to MAXIMIZE
their equity PROPERLY and how to choose options that make
the MOST SENSE for their situation! An example of exactly
how this works, is at: http://www.homerefinancecoach.com
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