Myths of Refinancing

"When I was in the process of refinancing, quite a few people tried to give me advice that I found out later on just wasn't true. I still hear today, things I heard ten years ago about refinancing that make me cringe because I know someone might be giving up a great opportunity to refinance because of false hearsay. Don't let someone convince you of anything without reading various sources and finding the facts yourself. Here is the myth I want to address right away:
'Refinancing Never Makes Sense'

Tom, my college boyfriend at the time I was considering to refinance my student loans, told me he had heard bad things about refinancing and not to do it, whether it be for your home mortgage, student loans, or anything else, and that his uncle had to foreclose on his home thanks a refinance fraud.

Fortunately for me, my friend Sally had already told me of the great rewards she was receiving thanks to refinancing. She also told me that unknowledgeable people would try to dissuade me, but that if I study the mortgage rates and speak to various lenders, I would be able to make a really smart decision to refinance. Sure enough, she was right!"

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