Mortgage Refinance in California?

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During these times of crises, let´s be more practical.  Feeling stuck in one´s comfort zone or being paralized by fear of taking risks will lead to nothing.  Something must be done with your home mortgage or something unpleasant might be already happening and later go out of control.  Or let´s put it this way:  you want to live more comfortably or less anxiously and be less concerned with mortgage issues that have been haunting you.  Well, I have been through this sojourn and indeed, it is not easy.  So, let me suggest some practical steps you might need urgently. First, save more.  Right? Your monthly payments will be lighter if you get a lower interest rate or when the term of the loan is extended. Yet, with the term extension, you will end up paying more in interest for your loan.  Second, you want to ease up on you and your family by paying down

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your mortgage the quickest way possible.  Why should you prolong your agony when you should have been avoiding it and investing in something else? You can cut the duration of your mortgage by shortening the term of the loan. Although your monthly payments increase, you will be able to save more in interest payments. And you will be relieved from debt sooner.  Third, you need extra cash to pay off credit cards. If you have enough equity in your home, you can refinance and borrow beyond the current loan balance. Once you have the extra money, you can pay off high interest debts. Fourth, you want to consolidate two loans into a single mortgage.  Obviously, your monthly payment on the new loan will be lower than the two payments.  Finally, you can convert an Adjustable Rate Mortgage (ARM) into a Fixed Rate Mortgage (FRM) to prevent the lender from increasing your monthly interest payments.  It will then hold your monthly payments on the same level.

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