The Refinancing Conundrum

30-year mortgage interest rates are at historical lows, and it seems that all homeowners are looking to refinance their property. Just the thought of refinancing can be overwhelming…with the application, the document gathering, the phone calls, etc., etc.. Who has time for that? Well, even though it may feel like a hassle, the prospect of saving money, in some cases lots of money, may be well worth it. To prepare you for the refinance process Jesse Stein of Mortgage Master, one of our business partners, provides the following refinance primer:

Before calling your lender, answer the following questions:

-What county is your home located?
-Do you own a single family, multifamily or condo?
-What is the approximate value?
-What is your current mortgage interest rate? Is it fixed or adjustable?
-How much is your current principal and interest payment?
-How is your credit? Do you know your credit score?

You should also gather the following documentation:

-Copy of driver’s license (or equivalent) and social security card;
-W2s for the past two (2) years;
-Paystubs for the past month;
-Bank statements (for all accounts) for the past two (2) months;
-Most recent insurance bill;
-Most recent real estate tax bill;
-Most recent mortgage statement.

Jesse says that most of this information and documentation can be faxed or emailed to your lender to get the process rolling.

Jesse Stein is a senior loan office at Mortgage Master and can be reached at (617) 875-6479 or jstein@mortgagemasterinc.com.

For more information about the legal process, please contact your attorney.

Firm Partners to take Disadvantaged Children to the Bruins Game

Patrick F. Dwyer & Associates is pleased to announce that it has partnered with the Cambridge Salvation Army, the Cambridge Community of Realtors and TD Banknorth to bring a group of deserving children from the Cambridge Salvation Army to a Boston Bruins Game as part of the TD Banknorth Kids Clubhouse program (Kids Clubhouse). The Kids Clubhouse is a TD Banknorth initiative that provides children from non-profit organizations all over Massachusetts, Maine and New Hampshire with an opportunity to attend a Bruins or Celtics game.

On January 6th, 2009, the children will be in attendance at the TD Banknorth Garden as the Boston Bruins face off against the Minnesota Wild. The children will be chauffeured to the game in a limousine and treated to dinner at the Garden. They will also be spotlighted on the Garden video scoreboard and during the television broadcast.

This partnership was spawned at the Cambridge Community of Realtors Holiday Party in December, which benefits the efforts of the Cambridge Salvation Army. The Cambridge Community of Realtors is a non-profit organization comprised primarily of Cambridge real estate professionals dedicated to helping raise awareness to the homeless. At the event, Attorney Adam Goncalves saw an opportunity to partner both the Cambridge Salvation Army and the Cambridge Community of Realtors with TD Banknorth. Adam contacted Pier Bruno, TD Banknorth’s Boston Business Banking Officer, with the idea. Mr. Bruno was impressed and touched by the efforts of the organizations and was immediately on board.

If you would like to learn more about the organizations mentioned above or would like information about the Kids Clubhouse or one of the organizations please see the links below.

http://www.salvationarmy.org/

http://www.cambridgecommunityofrealtors.com/
http://www.tdbanknorth.com/