Many people took advantage of last year’s low interest rates and refinancedtheir homes. If you didn’t do it last year, the Federal Reserve promised to keep rates low this year, so there’s still time. However, according to a quote in The New York Times from Frank Nothaft, chief economist at Freddie Mac, interest rates might start to go up a little in the spring.
If you’re planning on refinancing this year, take action now. Begin to gather all of your documents, like pay stubs and W-2s, and check your credit report. And find an appraiser qualified to determine the value of your home. The appraiser you work with should be familiar with your area and know the rules from the Home Valuation Code of Conduct intimately. An appraisal that comes in too high or lower than you expected can derail your refinancing pla
ns, so be sure that your appraisal is as accurate as possible. If you’re planning on refinancing in 2012, contact us today!
Present Value LLC is a worldwide international appraisal and advisory company that provides a range of professional services such as Certified Machinery and Equipment Appraisals, Inventory Appraisals, Asset Verification Services, Business Valuations, and Real Estate Appraisals. Contact us today!
By: Present Value