Reducing Closing Costs When Taking Mortgage Refinancing

I believe that I have discussed with you what refinancing is in one of my previous articles, as well as I have discussed what expenses are and what they consist of. I hope you learned them all because in this article, I am going to discuss about reducing closing costs when taking mortgage refinancing.
If you noticed in my introduction above, the phrases refinancing and closing costs are mixed up. In fact, I made them as the title of this particular article! Yes, you heard me right. In this article, we will be discussing about the expenses when you are taking mortgage refinancing. I needed to discuss with you about the closing costs and mortgage refinancing so that when I release this article, you will not be confused.
Let's have a review of the two previous articles and let's start with the article about closing costs.
We learned from the article that closing costs are costs typically paid at the closing of a buying or refinancing transaction, incurred by either the buyer or the seller. They are categorized in to two: nonrecurring closing costs and recurring closing costs. We then defined each category. The non-recurring expenses as the things or items which the buyer has to pay just once and never pay again. While the recurring expenses as the things or items that the buyer like you has to pay again and again over the course of home ownership.
The article about the mortgage refinancing defined refinancing as a term that is used to refer to the replacement of a current debt/credit obligation with another debt/credit obligation, but under different terms. In my definition, it is the method used by borrowers/buyers to help improve their financial situation. Below are steps that will let a borrower/buyer like you reduce your expenses when refinancing a mortgage.
1. Negotiate with your lender. To reduce these, of course, you will need to negotiate it with your lender. Ask him if it there's any possible way that you can reduce your the expenses, and if he says yes, proceed to step number two.
2. Ask for a list of the expenses. if you can have a list of possible closing costs that your lender will charge you with as mortgage refinancing, you can prepare.
3. Understand your lender's policies and rules. You should know whether his policies are subject to change without prior notice or if they're willing to guarantee that the written estimate costs will stay the same up to the time you finalize your mortgage refinancing bid.