There are many different scenarios to consider when refinancing your home. They include:

• Interest Rates – lower interest rates can reduce your monthly mortgage payment
• Debt Consolidation – consolidate your existing debt into one monthly payment
• Cash for large purchases – use the money gained from lower interest rates for large purchases

Before making a decision, it is important to know how refinancing will change your financial situation. For example, consider the fact that interest paid on your mortgage may be tax deductable. Therefore, lowering your monthly mortgage payment may also reduce your tax deductions. Always consult with a trusted lender before making the decision to refinance your home.

Once a decision is made and you are in agreement with your lender, Monroe Title LLC will provide you with a quick, concise title search and closing. A new title search is necessary because your previous title insurance applied to your original lender. Once your original lender is paid off and you refinance your home, your new lender will also require title insurance. This process and the documents signed will be similar to the first time you closed your home.