Low interest rates and desire on behalf of lenders to originate loans make this an ideal time for property owners to consider refinancing. Many property owners are hesitant to refinance due to concerns regarding prepayment penalties. For all of our existing clients and prospects, Caramoor Mortgages prepares a complimentary analysis of the savings to be realized in connection with a refinancing. Many of our clients are pleased to learn that the low rates justify refinancing and that the costs of the refinancing can be recouped within 18 months or less after closing. The customer is then able to reap the benefits of the interest savings over the remaining loan term. Caramoor Mortgages has also been instrumental in negotiations with existing lenders a reduction or elimination of their prepayment penalty.
Posted on August 30, 2011