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QUESTION: What does LTV mean? I keep hearing this term and want to know what it stands for.
January 16, 2019
QUESTION: What are the advantages and disadvantages to an interest only loan? I like the lower payments!
February 15, 2019

QUESTION: I purchased a home and then sold the home I was living in. I have a lot of cash to put down to lower my new mortgage now and wondered what is the best way to do so.

Answer:

If interest rates are about the same as when you made your new home mortgage, I would suggest checking in to see if your current servicier will do a re-cast of your loan. This means the servicer would take the large principle reduction and then reamortize the loan at the paid down amount for the remaining term of the loan. Much cheaper than a refinance and most servicers can do this.

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