This opens the way for the borrower to shop around and identify the most suitable lender.

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You will gain little or nothing at all, because the mortgage company is behind your back.

Depending on the type of refinance loan you want and how you plan to use, you can save a lot of money.

However, if you plan to move in a few years, it may be best to just go to the payment rates and you sell to get your money.

Pointing to your current lender that you really want to make good on your mortgage payments, they are often more willing to work on something.

They also raise your average mortgage interest rates and you may star but if you plan to sell quickly may be worth it.