If you’re thinking about refinancing your mortgage, you’re in luck. Today I’m answering some common questions about the topic.
Today I’m back to answer a few common questions that homeowners have about refinancing. First, Dan recently asked me, “If I refinance my home, is it going to increase my property taxes?”
The simple answer is no. When you refinance your home, it does not reassess your home or increase your property taxes. If it did, it wouldn’t be advantageous to do a refinance because the jump in property taxes would offset the savings from the refinance.
The second question comes from a lot of people who believe their home is in a trust, only to find out that it’s not. Why is their home no longer in a trust? What we’ve found is that sometimes when you refinance, the property isn’t always put back in a trust.
If you or your parents have refinanced in the past after placing a property in a trust, double check to make sure that the title is held properly. One simple oversight could be a big headache down the road if it’s not caught.
If you have any questions about refinancing, trusts, or anything else related to real estate, don’t hesitate to reach out and give us a call or send us an email.. We look forward to hearing from you soon.