Before we understand the important role we play in the area of mortgage refinancing, it would be useful to have a reasonably good understanding of this in the first place. Put in simple words it is nothing but replacing an existing debt with a new debt with a slightly or vastly different terms and conditions. There are many reasons why such refinancing takes place. It would be to take advantage of falling rates or consolidate all debts and keep it under one hand, just to name a few.
The demand for mortgage refinancing is quite robust and we have an important role to play in helping customers out for their refinancing needs. We are very ethical and honest in our business dealings and never ask our customers to go in for refinancing even if they come up with such requests. We always keep our customers’ interest on our minds when we offer such refinancing options to our customers. Though it is quite likely that customers would be negotiating with banks for such refinancing on their own, we are ready to offer our consultancy services in our bid to educate our customers.
We always insist that customers should go in for mortgage refinancing only there is a tangible monetary benefit associated with it. Just because there is some money on the table for the borrowers through such mortgage refinancing, we firmly believe that this might just be a temporary solution to a long lasting problem. At the end of the day we are the ones who firmly believe that any refinancing should results in reduced interest cost, consolidation of high cost debts into a comparatively low cost debt and increased cash flow to the borrower which can be used for other savings instruments and option.
Apart from the commercial aspects of such mortgage refinancing there are a number of operations issues that need to be addressed before going in for such mortgage refinancing. There could be a need for relooking at the finances of the borrower and also taking into account various other factors. There could be the need to redraft the entire mortgage refinancing agreement with the bank. Though banks have their own format, we as representatives of customers make it a point to ensure that the agreements are fair to both the stakeholders and there are no hidden surprises, especially those that could be hiding in the fine print. Hence, for any mortgage refinancing needs it always makes better sense to be in touch with us.