Shopping for a mortgage online is one of the easiest ways to get the best deals on your home loan. This type of refinancing gives you the opportunity to compare rates and mortgage payments from multiple companies easily and quickly. This option also allows you to save money by avoiding extra fees. Here are five important tips to help you find the right lender and get your mortgage payments handled quickly and easily.

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When refinancing your mortgage, be sure to pay off your debts on time. A mortgage company will charge you an early-payment fee if you miss a single due date. Avoid missing any due dates or going over your due dates with a single company. This is especially important if you have a large tax bill to pay. You can pay your taxes at any bank or credit union, with one easy monthly payment rather than sending out six or more individual payments to various creditors.

 

Keep your mortgage payment information secure. Your mortgage provider will issue a security code to your loan number, but you should also have a unique security number for your loan account on file. It's possible that this number could be stolen. If you don't know what your security number is, ask for it at your next application meeting.

How To Avoid Paying An Extra Mortgage Payment

 

Contact your mortgage lenders in advance to find out their policies about transfers and servicing assignments. Find out how quickly you can have your cash transferred to your new mortgage lender. Some companies offer three to four weeks to complete transfers, others offer five weeks to ten days. Your mortgage servicers may also offer to transfer your balance without a fee. Tell your lender's what payment options you prefer. Find out if they also have the option of a short sale.

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Find out if your loan servicer charges a fee for early-stage loan transfers. Some companies don't charge fees for transfers until late in your case. Tell your loan servicer if you pay any fees for servicing. They must be separate from the mortgage payment you receive.

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Keep track of your payments and your balance. When you submit your mortgage payment, mail it to your loan servicer. Some companies send the payments automatically, but keep a record of the date when your payments are deposited. Make sure you keep your receipt for the full amount due. Some companies require a Nochex or other pre-approved credit card payment. Ask your new servicer for instructions.

 

Get copies of all loan documents. Get copies of your tax returns, property taxes, insurance policies, bills, and other documents. You'll need these to complete your loan current status, so keep them handy. Mail your tax statements to your mortgage lender and your loan balance to your loan current statement.

 

Your mortgage company will provide you with an application to fill out and start the loan process. You'll have to sign a contract once your new current account starts. Keep all your important documents for your loan current, including your tax statements and your mortgage payments. The earlier you start paying your mortgage payments on time, the better your credit will look to your new loan company. Your credit rating is a major part of your new loan approval.

 

Call your mortgage servicer. Ask the names of three mortgage servicers you might work with. Ask them for information on what they charge and for their services. Find out about your options for reducing your mortgage payments. If you think you can't do it alone, ask your mortgage servicer for help.

 

Set up automatic-pay functions in your email and computer. Your mortgage company may send you an email that contains a feature that enables you to automatically make mortgage payments (and even payments to other companies). Most of these features are easy to activate, but you'll still need to set up your auto-pay function. An auto-pay feature can help you avoid late payments, but it won't do everything for you if you can't afford to make the payments. If you have an emergency, you may want to check out the auto-pay feature first and then see if you can afford to make your other payments.

 

If you have missed mortgage payments in the past, contact your lender immediately. There are some common procedures you can follow to request extensions on your loan or other options to avoid late payments. If you still have problems, your lender may be able to provide you with different options to help you fix your finances. Your lender is more likely to work with you if you're willing to work with them on a budget and other terms.

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