Archive for September, 2010
September 21st, 2010 | 
Author: Refinancing your mortgage is typically a simple step to obtaining some extra cash or a lower mortgage rate in today’s fluctuating economy. But just because it’s simple and so readily available to most people, does that mean a mortgage refinance is the key to solving your financial problems. ..?
There are three significant reasons to make a change in your mortgage terms:
- Refinancing to reduce current debt load: This reason to refinance may keep a roof over your head and help you get back on track with your monthly payments. There are two options for this type of refinance: a longer amortization period (or term) and a lower monthly interest rate. Both will lengthen your payment schedule but reduce your monthly costs.
Living month-to-month, paycheque-to-paycheque may not be an appealing option for most people. The mortgage terms you signed up for when you purchased your house may not be benefiting you anymore. Perhaps you have other loans that you are footing the bill for monthly as well. Whatever the cause or reason, refinancing to reduce your current debt load may be the best choice for you.
- Refinancing to borrow against your mortgage: With the constant fluctuation in the economy, many houses are being purchased as “fixer-uppers’ or houses that are priced according to their aesthetics and condition in and outside of the house. After paying off your moving and purchase costs, people typically find themselves without extra cash for renovations, but surrounded by items that they may need or desire to change. This type of refinance would be called a “cash back” deal with the equity being removed from your mortgage and given back to you in the form of cash.
In order to secure this type of loan, you would have to have the equity already present in your house – money that you have already sunk into your mortgage that you are willing to remove for aesthetic purposes, necessary fixes or sundry items that are not affordable to you with your monthly cash flow.
- Refinancing to pay off your mortgage in a reduced time frame: This is perhaps the most ideal reason to refinance and the one that we strive to work towards. Refinancing to obtain a shorter term with heftier payments can catapult you to a type of financial freedom and the desired ‘mortgage-burning party’.
When choosing this route, you will be putting a larger sum of money towards your principal payment every month, or on a bi-weekly basis.
SHOULD You Refinance?
To refinance or NOT to refinance, that is the question. After considering the options for refinance, there are several factors that should ultimately determine your final decision.
- Current mortgage rates may entice you to switch from fixed to variable or vice versa, but the payoffs are never immediate. You may have to wait almost a year to see any savings.
- What are the penalties for renegotiating your mortgage? Do they outweigh the benefits or savings?
- Wanting to renovate or jet away to a foreign land may seem like a perfectly great reason to juggle your mortgage options, but may not be a good long-term option as it could raise your payments to a monthly premium you cannot afford.
Be sure to seek the help of a mortgage broker to help you assess your payback period and you reasons for refinancing. It could be a very wise decision that keeps the roof over your head, but it could also be a negative influence on your future financial situation.
Lilly Gordon is a freelance web author and publisher. She writes on a variety of topics including real estate and has currently been researching as a first time home buyer.
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In earlier decades, towns and cities were significantly smaller than they are now and finding a dentist was a matter of walking down the street to your neighbourhood dentist, or driving downtown to “see that fellow your sister recommended.” In the past three decades major cities, such as Edmonton, have exploded in size opening new doors for dental professionals everywhere. So how to you choose the Edmonton dentist that’s right for you and your family?
In a typical lifetime, you will have to see your dentist at east once per year for typical checkups; factor in incidentals (cavities, dentures, crowns, a root canal, etc.) and you’re there a lot more often. Add in some cosmetic dentistry (teeth whitening, veneers, etc.) and you’re taking the level of service from your dentist to new heights.
How To Choose
- Visit your local Dentist Association website for a list of recommended Dentists in the city.
- If you are moving to Edmonton from an area within Canada, check with your previous dentist to get his / her opinion on a new one.
- Ask your friends, neighbours, colleagues, etc. about the dentists they have used.
- After you have your search narrowed a bit, visit more than one dentist to see if you feel it’s a good fit.
- Ask the dentists if they have recall schedules for regular patient checkups.
- Ask for treatment options – good dentists will always give you all the options, not just the most expensive one.
- Ask your candidates if all treatments are explained fully before being completed and if they always have ready lists of advantages and disadvantages of specific treatments.
Why It’s Important to Find the Right Dentist
Your dentist is the person that will be responsible for your oral care for a very long period of time. You need to make sure that the dentist you choose has a specific list of services in all three categories of dentistry: Preventative, Restorative and Cosmetic.
Preventative dentistry refers to regular checkups, periodontal therapy, nightguards for teeth grinding and oral cancer screening, among others. These services should be offered on a regular basis to their patients.
Restorative dentistry are procedures that you may need throughout your lifetime. These procedures include: fillings, tooth extractions, dentures and partials, root canals, and dental implants.
Cosmetic dentistry is a rapidly expanding arm of dentistry and is now being offered at most dental offices. These services are aesthetic services and are generally performed to perform “smile makeovers.” These include: teeth whitening, porcelain veneers or Lumineers, bonding, and tooth jewelry.
Whether you’ve just moved into Edmonton or are unhappy with your current dentist, finding the Edmonton dentist that’s right for you is crucial to your oral and general health.
Lilly Gordon is a freelance web publisher and writer. She researches and writes on a variety of topics, including cosmetic dentistry in Edmonton, where she currently resides.