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Affordable ReFi Recommendation?
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vaden
Mueller Community

Posts: 36
Joined on July 8th, 2008
Affordable ReFi Recommendation?
by vaden on July 18th, 2012

Has anyone had a good experience with refinancing their affordable? I turned in all my paperwork and was told that my new rate was locked in, only to find out a week later that they don't accept my home insurance company (which is Liberty Mutual). But they did happen to have the name of a different agent I could switch my home insurance to. So I'm thinking I should switch refinance companies. Any recommendations would be very much appreciated.
 
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kerry
Mueller Community

Posts: 106
Joined on September 3rd, 2007
Affordable ReFi Recommendation?
by kerry on July 18th, 2012

I used Ian Carmichael to refi my affordable last fall. He was very easy to work with and has helped quite a few Mueller folks.

Ian Carmichael
Mortgage Planner/Production Partner
Envoy Mortgage
NMLS # 223454
Phone 512-306-8502
Fax 512-306-8503
icarmichael@envoymortgage.com
907 Ranch Road 620 South, Suite 301
Austin, TX 78734
 
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vaden
Mueller Community

Posts: 36
Joined on July 8th, 2008
Affordable ReFi Recommendation?
by vaden on July 19th, 2012

Thank you very much Kerry!
 
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Mike Carroll
Mueller Community

Posts: 68
Joined on April 7th, 2010
Affordable ReFi Recommendation?
by Mike Carroll on July 19th, 2012

Quote:
Has anyone had a good experience with refinancing their affordable? I turned in all my paperwork and was told that my new rate was locked in, only to find out a week later that they don't accept my home insurance company (which is Liberty Mutual). But they did happen to have the name of a different agent I could switch my home insurance to. So I'm thinking I should switch refinance companies. Any recommendations would be very much appreciated.


I know mortgage companies and banks can be rough, but what they did there is flat out wrong. A lender cannot require you to purchase insurance coverage thru any particular company. A lender also cannot require you to purhcase an amount of insurance that is more than the replacement cost of the dwelling you are refinancing or purchasing. This information can be found at TDI's website http://www.tdi.texas.gov/rules/bor-home-english.html

Now a lender could require you to use a carrier that is AM Best rated A, A- or better, for example to make sure it's a reputable company. Which, by the way, all of Liberty Mutual's writing companies....including SafeCo (one of the many carriers we represent) are rated A by AM Best. http://www.libertymutualgroup.com/omapps/ContentServer?pagename=LMGroup/Views/LMG&ft=4&fid=1138356794580&ln=en

The Texas Department of Insurance takes this kind of complaint very seriously and you should consider filing one. You can do that here https://wwwapps.tdi.state.tx.us/inter/perlroot/consumer/complform/complform.html

 
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vaden
Mueller Community

Posts: 36
Joined on July 8th, 2008
Affordable ReFi Recommendation?
by vaden on July 19th, 2012

Hi Mike,

Thank you for your responses both here and through private message. I will certainly look into your recommendations. I always appreciate your thoughtful and helpful comments regarding our community and, in this case, my home insurance questions in particular. Thanks again neighbor!

Jon
 
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paulsjv
Mueller Community

Posts: 191
Joined on September 5th, 2008
Affordable ReFi Recommendation?
by paulsjv on July 19th, 2012

Mark is amazing. I don't know how he does it but he usually beats everyone by at least a quater of a point. Amazing. Strongly recommend you give him a call!


Mark Abernathy, Sr. Loan Officer
6836 Austin Center Blvd #110
Austin, TX 78731
(512) 459-2404 direct
(512) 459-8310 fax
e-mail: mark.abernathy@capstarlending.com
http://www.capstarlending.com
 
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David Neider
Mueller Community

Posts: 28
Joined on July 14th, 2011
Affordable ReFi Recommendation?
by David Neider on July 20th, 2012

I have a very high regard for Mark as well.
 
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