I received a notice yesterday from my county recorder’s office. It has something to do with my recent mortgage refinance. Here’s what it says: "KNOW ALL MEN BY THESE PRESENTS, that certain Deed of Trust described below provides that the holder of the Note secured by said Deed of Trust may appoint a successor Trustee […]
Mortgage Refinance Documents: OMG What Did I Sign?
I closed my mortgage refinance last month. I often hear the media saying that people who signed up for an adjustable rate mortgage (ARM) didn’t know their interest rate can adjust. Well, make no more excuses. I’m going to list all the documents I signed at closing and explain what they mean. This way anybody […]
Mortgage Refinance: Closing Process Explained
My mortgage refinance has been approved by the lender. Now it’s time to pick a date for signing the papers. Is any day of the week better or worse than others? Yes, if you want to avoid paying extra interest on a large sum of money. The federal law (15 USC 1635) says if you […]
"No Cost" Mortgage Refinance: Stepping Down the Ladder
I posted last week that I’m refinancing my mortgage. Now I can add more details. I lowered the interest rate on my 15-year fixed rate mortgage by 0.25% from 5.125% to 4.875% using a “no cost” refi. All closing cost will be covered by the lender. In exchange, my rate is higher than what it […]
I’m Refinancing My Mortgage
Among the stock market chaos, the bond market had a rally, which brought down the mortgage rates. I’m refinancing my mortgage. I already locked my rate but I don’t have time to write it up as a detailed blog post yet. If you think you might also benefit from a mortgage refi, you can read […]