Monday, January 19, 2009

Of course lowering your interest rate will lower payments, but

many clients are realizing an added bonus when their escrow payment calculations are recast based on a new, lower property taxes. Obviously the recent drop in interest rates have homeowners anxious to lower their payments, we have seen an influx of past clients and typically those with excellent credit. We are locking loans left and right at 4.875!
In addition, many families are surprised to learn that their property taxes have been reduced significantly, with the additional homestead, and declining property value assessments. When refinancing, the escrows are set up based on the previous years' tax bill. Now that 2008 tax figures are available, these bonusing borrowers are loving the icing on the cake!

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