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Shelter will be euthanizing this pup on New Year’s eve - in order to free up kennel space

Problems That Can Occur When Refinancing Your Home

Refinancing has become a common practice in today's society since most homeowners do not hold their original mortgage for the entire term of the loan for a variety of reasons. Since this process is actually a new loan, there are problems that can occur when refinancing your home.

Credit Issues

Very often there are credit issues that appear on the homeowners credit report which they did not know about. In some cases, the lender can have these corrected provided that the borrower has the documentation that can be sent as proof to the credit agency. If a low credit score is the issue, then the borrower will probably need to work on improving their credit for a period of several months before trying to refinance again.

High Debt to Income

A high debt to income will disqualify a borrower for a refinance. When this occurs, the borrower needs to take steps to reduce their debt so that the DTI falls within the lender's guidelines. There may also be a lack of sufficient income that will create a high DTI.

In some cases, when mortgage rates increase, the debt to income can increase to a point that a borrower will not qualify. Here again, the borrower must reduce their regular debt in order to be approved.

High Loan to Value

This is another area of concern where a borrower may be disqualified for a mortgage refinance. Lenders will not refinance a mortgage where the loan is high or higher in comparison to the value of the property.

For some borrowers, those who have Fannie Mae or Freddie Mac mortgages, there is a special program available called HARP, the Home Affordable Refinance Program for underwater borrowers. To be eligible for a HARP refinance, the original loan must have been sold prior to June 1, 2009. This program is currently available until the end of 2015. For FHA mortgage holders, the FHA streamline refinance with no cash out is available and does not require an appraisal. The same type of refinance is available for VA loans.


A mortgage refinance does cost money and, in most cases, the borrower will add the costs to the balance of the loan. However, borrowers may find that the costs related to refinancing are too high. When this occurs, the borrower should shop around and compare the closing costs from multiple lenders since no two lenders are alike.

Unusual Occurrences

Never underestimate the fact that unusual occurrences can happen. When refinancing, homeowner's insurance must be updated and may cause an issue. If a borrower has had lender forced place insurance, they may find that they are unable to obtain regular insurance from an agency. Refinancing through a new lender will be impossible. Another unusual occurrence can be a lien showing up on the title of the property.

Since refinancing a mortgage is actually turning in the existing mortgage or a brand new mortgage, the same process and underwriting must take place in order to receive approval. Being aware and that anything can happen, from the simple to the unusual, is the best line of defence.

Shelter will be euthanizing on New Year’s eve - in order to free up kennel space because every friggin year people here go nuts with fireworks and Jan 2 is a HUGE INTAKE DAY with strays all over the damn place


Anyone lose this little morsel?

Picked up running loose in Nueces County area on December 24th so this teensy tiny lil tidbit spent Christmas alone in the shelter.

Stray hold by law is three “business” days so due to the Holiday Closures they will hold till December 31st after which time he can be adopted or sent to a rescue

Hoping owners call & reclaim !

Please contact (361) 387-5701 direct if this is your little doggy

For additional assistance feel free to contact (410) 608-2195

STATUS : Tagged by rescue - read comment for update from crossposter
How to Get the Best Mortgage

If you are planning to buy a house, you'll probably need to get a mortgage to pay for it. While some buyers can pay cash for their homes, most need a bank loan to finance this important purchase. Getting this crucial loan isn't as simple as obtaining a car loan. Bankers scrutinize borrowers closely to make sure they can pay back the money and that the house is a wise investment for the bank. Buyers need to do their homework to make sure they get the best interest rates and payments for their purchase. It's wise to follow these steps to obtain the best loan.

Preapproval Process
Step one in the mortgage process is getting preapproved for the loan. Before even looking at houses, it's smart to have a lender check over your application. Many realtors won't take buyers to look at houses until this important step has been completed. Sellers usually won't accept an offer unless they know the bank has preapproved buyers. In order to be preapproved, your lender will want to look at your credit score, your debt-to-income ratio, and your employment history. You'll need to have a decent credit score to get a loan with the best interest rates. You'll also need a stable employment history that shows you've been with the same employer for at least two years. Once you've been preapproved, you can find the house of your dreams.

Interest Rates
Interest rates change all the time but once you begin the mortgage process, you can lock in your rates. You can also buy down your rate by paying additional fees called points at closing. Doing the math on various options will let you know if this is a wise choice. The better your credit score and employment history, the more likely it is that you'll get the lowest rates on the market. Check the Internet to compare rates between different lenders, as different banks offer slightly different rates. Remember that the lower the interest rate, the lower your payment will be.

Length of Loan
You'll also need to decide whether you want a thirty-year or a fifteen-year mortgage. A thirty-year loan will give you the lowest payment but you'll pay lots more interest over the life of the loan. If you can possibly afford to, opt for the fifteen-year loan if you plan to stay in your house for a while.

The mortgage rates and length of loan will play a huge part in your financial wellbeing. This important loan is on your most important asset: your home. Be sure to choose a lender with a good reputation, that has been in the business for a while, and that offers great rates.

If you're looking for a good grand rapids mortgage, seek the help of a trustworthy bank like Founders Bank & Trust.