Don’t Be Afraid to Ask
Don’t hold back from asking anything that confuses or bothers you. Taking out a second mortgage, after all, is no small deal and if you end up with the wrong mortgage, you could be indebted for life.
Clarify all the points in your loan brochure or contract. Asking won’t cost you or the mortgage company a dime so get as much information as you need about your refinancing options.
You Are Not Obliged to Commit
Many experienced mortgage brokers can be extremely convincing. They are especially good at making you feel guilty just by talking to them and asking about what they’re offering.
Don’t fall for their tricks, though. Asking questions and making them give you the best mortgage refinance quotes they can offer does not oblige you in any way to apply for a second mortgage with them. You are merely exploring your options. That’s not a crime, is it?
In the midst of consulting with a mortgage broker, you might be required to submit sensitive information about yourself. Before disclosing anything, make sure that your mortgage provider ensures complete privacy and confidentiality for whatever data you share with them. This is just a precautionary measure against identity theft and as such, your mortgage provider shouldn’t take it personally.
Use these tips when searching for the best mortgage refinance quotes and you’re sure to come home with the ideal second mortgage and with lots of extra cash to spare!