Lenox Financial | Technology & Workflow Management for the Mortgage Industry
Commonly Asked Questions Answered by Jon Shibley

Why Refinance?

Jon Shibley, President & CEO, Lenox Financial

Save Money or Pull Cash Out

The best way to see whether refinancing your mortgage makes sense is to assess your financial situation with one of our professional mortgage managers. If current interest rates are extremely high, you may not want to refinance for any reason. But if rates are low or you have a specific need, you may want to refinance to reduce your monthly payment, pull some cash out to renovate your house or build a pool, or consolidate your debts or a second mortgage. Or maybe you just want to pay off all those credit cards that have you stressed out! A refinance of the mortgage is one way of restructuring your debt so as to get it under control.

If the environment is right, you can really use refinancing to help.  And once you are in a position where there are good market conditions, you’ve taken care of your debt, and you are sitting around thinking how to improve your situation — this is when the mortgage management philosophy comes in to play.

Saving is the Same As Earning

Make no mistake about it—saving is the same as earning.

If you have a $400,000 debt that you can manipulate and refinance every single time the rates drop and save another $100, $150, $200, $300 per month, you have turned your largest debt into a money-making asset. 

We Manage Your Mortgage

With our mortgage management philosophy we actively manage your mortgage. That means we are going to jump on the market every time it benefits you. Why? Because if it benefits you, then it benefits us too. Every time we redo your mortgage, you save money and we make money. Once you subscribe to the mortgage management philosophy, you understand that you can now manipulate your debt, just like you would manipulate an investment account. How much time do you spend trading your investment or 401K accounts? You don’t have nearly as much power with your investment accounts as you do with your biggest debt: your mortgage.

Now you can manipulate your largest debt, for free, with no closing costs, every time it suits your personal needs or when the market fluctuates positively, so that you can save money every month. You have now turned your largest debt into a money-making engine, for saving is the same as earning.