The economy is back! Rates are low! Mortgage terms are the best they’ve been in years! And yet, according to an article in The Washington Post, millions of Americans are not choosing to refinance. Real estate professionals can use Easy HUD real estate title software to show potential clients how much refinancing will save them.
Too Good To Be True?
Part of the problem is that, after such a brutal economic downturn, homeowners are leery of risking their homes. Bad mortgages were so easy to get than consumers have become afraid of loan terms that are suspiciously good. As an example, look at HARP, the program that was supposed to rescue homeowners from onerous mortgages. In August of this year, FHFA Director Mel Watt had to assure Americans that the program was “not a scam” in an effort to convince more homeowners to try refinancing.
So how do you show a potential client that refinancing is the best choice? One way is to be able to produce hard numbers quickly showing how much they will save on the new mortgage, and how affordable the refinance will be.
Easy HUD – The Right Tool For Refinance Preparation
When you can sit down with a homeowner and use Easy HUD settlement statement software to illustrate in minutes the truth behind the refinance, you are more likely to pique a client’s interest in a new mortgage. Once you gather a little information from the client, you can print out a HUD-1a and GFE that shows in black and white exactly how much the refinance will cost. You can even play around with different loan terms and help the client understand how much each loan will cost up front, and how much it will cost each month.
Unfortunately, although most real estate agents, brokers and lenders are honest, there were enough snake oil salesmen around before the market crash to make the public gun shy. It’s not enough to make promises to a client. You have to be able to produce real data that demonstrates how beneficial the refinance will be, and Easy HUD lets you do that.
Put yourself in a position where you can show the benefits, and answer the hard questions homeowners will have about the refinance. With Easysoft’s HUD preparation software on your side, you are prepared to offer homeowners the refinance help they need.