Today I suggest we talk about the so-called “no-cost” refinancing. First of all, this commonly used name for a refinancing option one can find very useful under certain circumstances is in fact rather misleading, because:

• No-cost does not mean free from any costs;
• No-cost refinancing helps you only with the Non-Recurring Closing Costs;
• No-cost refinancing still leaves you to pay at least Property Taxes, Interest, and Insurance.

Now that you’ve been warned, let’s take a closer look and find out about the circumstances under which this option can be useful.

Read the rest of this article »