What Kind Of Questions Do You Ask When Refinancing?

[sunnydazed]

My friend is going to refinance her house tomorrow. She needs to know what type of questions to ask before she does this. Anyone know?

[Kelsey1224]

Is she getting a fixed rate.
Will she be charged points and an origination fee.
What will the total cost of her loan be.
Will her loan be sold to another lender.

[sunnydazed]

Thanks! I don't think I even asked those questions when we refinanced. I think she is going for a fifteen year. She asked what type of questions we had asked, and I didn't even remember! (Stress tends to wipe out my memory! ;) ) Anyone else think of any other questions to add to this? :confused:

[scifiwoman]

I think you can request the loan not be sold. But it has to be put in writing in the contract. And it is a good idea. My mortgage was just sold and Im having all kinds of trouble now. :( Wish I had known this at the time.

[sunnydazed]

I never even thought about our loan being sold. And we already signed our contract. What kind of problems are you having scifiwoman? And I love your name! Why did you choose it? Fan of sci fi? Do you like the classics, or the new stuff?

[scifiwoman]

They changed the way they do business for one thing. They dont have a payment book like before. They dont give you any slack. Where my old holder would work with me if I had a problem this one just doesnt care. They just want their money. And they went up on my late fee.

Ty.. Yes I am a fan of sci fi. I like the old and the new. :) pretty much everything. lol