refinance

3 steps to refinance your mortgage

Document your assets
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Do: Document all your assets

You'll have to provide information about your assets anyway. But you must be especially thorough if you owe more than the house is worth.

"Let your loan officer know about all the assets you have," says Michael Becker, mortgage consultant for Green Pastures Mortgage & Finance in Lutherville, Md.

"This includes retirement accounts, mutual funds, stocks, bonds, trust funds, and monies in savings and checking accounts. I have found it hard to get an approval on a high loan-to-value loan without a good amount of reserves."


 

 

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