| Homeowners who are planning to re-finance their | | | | to do this is to consult the Better Business Bureau |
| home may find the Internet to be a very worthwhile | | | | (BBB). The BBB may be able to provide the |
| resource. The Internet is useful because it can give the | | | | homeowner with valuable information regarding the |
| homeowner a wealth of information as well as the | | | | number of previous complaints against the company. |
| ability to compare different rates from different lenders | | | | A company who has a large number of unresolved |
| at their convenience. While these options have made | | | | complaints should be considered an unreliable |
| re-financing a more convenient process there is more | | | | company. However, homeowners should not assume |
| potential for danger. However, homeowners who | | | | companies without a significant number of complaints |
| exercise a small amount of common sense in using | | | | are reputable unless the company has been in |
| the Internet for re-financing often find they are not at | | | | existence for a number of years and is a member of |
| any additional risk. | | | | the BBB. |
| Comparison Shop at Your Convenience | | | | Homeowners should also take care not to be fooled |
| One of the most popular advantages to researching | | | | by fancy web design. A website which looks very |
| re-financing online is the ability to comparison shop at | | | | professional is not necessarily a website which is |
| the homeowner's convenience. This is important | | | | accurate and informative. Many skilled website |
| because many homeowners work long hours and | | | | designers can create websites which are both |
| often find they are not able to meet with lenders | | | | attractive and professional looking. These website |
| during regular business hours because of job restraints. | | | | designers can also optimize a website for particular |
| The Internet, however, is open 24 hours a day and | | | | mortgage related keywords so users find the page |
| allows homeowners to research their options, make | | | | easily when searching for these terms but this does |
| important calculations or receive online quotes at any | | | | not necessarily make the website designer |
| time of the day through the use of automated | | | | knowledgeable about the subject to re-financing. |
| systems. | | | | Confirm Loan Terms in Person before Committing |
| Homeowners can also take their time comparing the | | | | While shopping for re-financing options online is |
| quotes they receive from these lenders online instead | | | | certainly easy and convenient, homeowners should |
| of feeling pressured to provide an immediate response. | | | | consider completing the application process either in |
| While homeowners may have some additional time | | | | person or over the phone instead of relying on an |
| available to them, these same homeowners should | | | | automated system. While the Internet is good for |
| realize they do need to act relatively quickly to lock in | | | | research purposes, homeowners can take advantage |
| estimates they receive as interest rates are often time | | | | of face to face meetings or telephone conferences to |
| sensitive in nature and cannot be guaranteed for long | | | | ask all of their relevant questions. Asking all of these |
| periods of time. | | | | questions will help the homeowner to ensure he fully |
| Use Only Reliable Resources | | | | understand the loan terms as well as all of his available |
| Homeowners who are using the Internet to research | | | | options. |
| re-financing options and obtain quotes should carefully | | | | Completing the re-financing process in person or over |
| consider their sources when making important | | | | the phone can also prevent the homeowner from |
| decisions regarding the subject of re-financing. | | | | being surprised by any elements of the mortgage |
| Homeowners who stick with well known lenders and | | | | re-finance. This may include additional fees which are |
| established websites will not likely encounter problems | | | | tacked on during the processing of the application, |
| but those who select a new lender may be surprised | | | | rates which are only available in certain situations or |
| by the results of the re-financing attempt. | | | | other elements of the re-financing agreement which |
| Homeowners who are unsure about the reliability of a | | | | could significantly impact the homeowner's decision |
| particular resource or lender should do additional | | | | making process. |
| research on the company. One of the easiest ways | | | | |