Here are ways to save money by refinancing -- by paying a loan off "early" with a new, better loan.
1. Know when refinancing a mortgage makes sense. According to the Consumer Action Handbook published by the Federal Citizen Information Center, "Consider refinancing your mortgage if you can get a rate that is at least one percentage point lower than your existing mortgage rate and if you plan to keep the new mortgage for several years." Also consider the extra fees for the new mortgage.
This may seem obvious. Good candidates for a first time home buyer loans are those who have never owned a home. Some program offers allow people who have not found a home within the last three years to take advantage of these special loan programs.
Genuine banks and organizations will NOT contact you by e-mail to request confidential and personal information. If a bank or organization sends you a genuine request for some information, they should address you by name and not refer to you as "account holder" or "customer".
Here are suggested actions recommended by the Federal Trade Commission and Equifax that you should take immediately if you suspect you are a victim of identity theft. Keep a detailed record with the details of your conversations and copies of all correspondence.
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