Arizona Home Talk

Q: What if I need to refinance but have no equity?

While each of these has its advantages, the bad part about any of the options is that you usually have to call your lender three or four times before you get someone on the phone who even knows what you’re asking for.  Often customer service representatives won’t know what you want or how to help you.  Don’t be surprised if you get passed around or if you seem to hit a dead end—be diligent and call back. 

Eventually, you will get someone who knows what you are talking about.  Just remember: Don’t sign anything without reading it completely.  Because of pressures from the market and the government, most banks are on the up and up right now, but there’s still a chance that the language could be misleading or that a prepayment penalty has been added. 

If you need help interpreting the paperwork, don’t hesitate to send it to me for review—this is what I am here for.

Carrie Neidorf